JUL
Beach Fanatic
There is that great little place on 98 on the left going toward the mall from 30A...
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Nature Walk
- Thread starter Babyblue
- Start date
There is that great little place on 98 on the left going toward the mall from 30A...
I think Miss Kitty said it best.
The main portion of NatureWalk was purchased at least 5-6 years ago, wasn't it? And it was a fraction of the cost of the $16 million for the Villas, if I remember correctly. It seems hard to believe the income from the Villas is covering that mortgage plus all the expenses.
In hindsight, the former Villas owners did very well for themselves. Timing is everything.
The main portion of Natureswalk was not bought for a portion of what the Villa's was. It was actually purchased for $21,000,000 give or take a few dollars. Add that to the Villas purchase as well as the 2 gulf front homes that were originally bought for anticipated beach access and you have around $40,000,000 just for the dirt.
Snapper Grabber
Beach Comber
Is there any definite news yet concerning the current status of Nature Walk? I own property in Seagrove and try to keep up with what is happening there even though I spend most of my time in Birmingham.
sell30a
Beach Comber
Not quite a foreclosure:
7/5/07 - Failure to Pay 40M commercial bill results in Certificate of Dishonor by default:
http://clerkofcourts.co.walton.fl.u...px?Request=navResult&IID=20934063&RecordID=38
9/19/07 - Court issues temporary injunctive relief:
http://clerkofcourts.co.walton.fl.u...px?Request=navResult&IID=20954676&RecordID=22
So doesnt look like the bank has foreclosed the property, but this 40M commercial Bill default looms over the property
7/5/07 - Failure to Pay 40M commercial bill results in Certificate of Dishonor by default:
http://clerkofcourts.co.walton.fl.u...px?Request=navResult&IID=20934063&RecordID=38
9/19/07 - Court issues temporary injunctive relief:
http://clerkofcourts.co.walton.fl.u...px?Request=navResult&IID=20954676&RecordID=22
So doesnt look like the bank has foreclosed the property, but this 40M commercial Bill default looms over the property
Babyblue
Beach Fanatic
jlweathers
Beach Lover
strange that a notary public created the document entitled "Certificate of dishonor by Default".....i don't pretend to comprehend the legalise but for a $40 million note I think i would go through an attorney.
Beaudroix
Beach Lover
nathanthebanker
Beach Lover
Olsen & Associates
yep, seems that the gods of seagrove are looking out. That property was never meant to be bought to do what they were going to do with the community. Nature protects itself sometimes
Olsen screwed me once with promises of building up a community that I bought some land on and never did anything with it and now I am stuck when i bought it in anticipation of everything they were going to do and what I was told. I'm going to have to suck up the lose on that one but people sometimes get what they deserve.
Matt J
SWGB
yep, seems that the gods of seagrove are looking out. That property was never meant to be bought to do what they were going to do with the community. Nature protects itself sometimes
Olsen screwed me once with promises of building up a community that I bought some land on and never did anything with it and now I am stuck when i bought it in anticipation of everything they were going to do and what I was told. I'm going to have to suck up the lose on that one but people sometimes get what they deserve.
Hence the developers boiler plate:
ORAL REPRESENTATIONS CANNOT BE RELIED UPON AS CORRECTLY STATING REPRESENTATIONS OF THE DEVELOPER. FOR CORRECT REPRESENTATIONS, MAKE REFERENCE TO THIS BROCHURE AND TO THE DOCUMENTS REQUIRED BY SECTION 718.503, FLORIDA STATUTES, TO BE FURNISHED BY A DEVELOPER TO A BUYER OR LESSEE.