John,
Smart of your attorney to do so. At least your deposit isn't spent.
--- In AsburyPark@yahoogroups.com, "John C. LiDestri" <[EMAIL PROTECTED]>
wrote:
>
> Tommy,
>
> That is very interesting.
>
> My attorney made one of the conditions of the contract that I
would
> not have the deposit money go into a bond, but rather stay in an
> attorney escrow account. He recommended we stay away from the
bond
> because he had a client who was involved in a failed
precontruction
> deal and his client had his money in bond......it was very
difficult
> to get the deposit money back.
>
> Good work in getting your client out.
>
> John
>
>
> --- In AsburyPark@yahoogroups.com, "justifiedright"
> <justifiedright@> wrote:
> >
> > John,
> >
> > I had a client with a contract on an Esperanza unit. About 2
> months
> > ago I took her out of the contract and got her $65,000.00
deposit
> > back.
> >
> > The reason I counseled her to get out of the contract was that
> Metro
> > could not show me a deposit bond protecting the deposits.
> >
> > They tried to convince me they had one. They kept sending me a
> > sample, and I kept telling them I wanted proof that one was
> > purchased. They gave me several excuses, but no bond, so I took
> my
> > client out and got her money back.
> >
> > Just curious: Did you or your attorney ever get a copy of a bond?
> >
> > Thanks- Tommy.
> >
> > --- In AsburyPark@yahoogroups.com, "John C. LiDestri" <john@>
> > wrote:
> > >
> > > --- In AsburyPark@, "oakdorf" <oakdorf@> jrcote:
> > > >
> > > > "release me and let me go..."
> > > >
> > > > Song by many...
> > > >
> > > > "release my money, mr metro, and let me go
> > > >
> > >
> > > nicely done!
> > >
> > > nothing from metro yet.....hopefully this will not drag out
too
> > long
> > > for the sake of the people who believed in AP and Metro enough
> to
> > > put deposits down on the Esperanza or the citizens of AP who
> have
> > to
> > > live with the eyesore of an inactive contruction site. This
is
> a
> > > huge turn of events for the AP waterfront and I feel the final
> > > outcome is going to be highly dependent on how the banking,
> > retail,
> > > and housing markets rebound......everyone seems to be sitting
> back
> > > and waiting. As they say....timing is everything, very bad
> timing
> > > for Metro.
> > >
> > > If this project is not a viable one for Metro, how could it be
> for
> > > others? I guess if it is forclosed on a new developer could
> come
> > in
> > > and try to "steal" the property from the bank for pennies on
the
> > > dollar? You would think whoever is financing Metro is going
to
> > take
> > > a major hit? Once the project is foreclosed on, if that is
its
> > > fate, the new developer is most likely going to have a
difficult
> > > time getting the same 70 contracts signed.....70 out of 224 at
> > this
> > > stage of contruction and in this market would seem to be a
> > > reasonable number. On a cost per square foot basis they were
> also
> > > getting a pretty high number, especially the units with an
ocean
> > > view.
> > >
> > > I am personally still committed to the area and the main draw
> for
> > me
> > > has been what has been done away from the waterfront with the
> > > arrival of entrepreneurs who have opened unique shops and
great
> > > restaurants, as well as the people that have come in to the
> > > community and have bought or rented homes and have restored
them
> > to
> > > their original beauty.
> > >
> > > What is scary for me is if the economic slow down will create
a
> > > siutation where things could actually move backwards in
> > AP.....this
> > > is one hesitation. As Dan S has pointed out, AP partners also
> > plays
> > > a big role in the viability of the redevelopment and
> unfortunalty
> > > with them still in the picture this also makes me nervous. I
> wish
> > > they would just sell out at a reasonable profit and move on!
We
> > > should start wearing t-shirts saying Stop being Pigs Partners
or
> > > something like that. Them actually trying to be pigs is
> actually
> > > working against them as it is inhibiting the growth and
activity
> > in
> > > the area. What a shame.
> > >
> > > John
> > >
> > >
> > > >
> > > > "Release Me"
> > > >
> > > > Hey please release me, let me go
> > > > And for I don't love you anymore
> > > > To waste our lives would be a shame (my money...)
> > > > And release me and let me love again (love = buy)
> > > > Oh I have found a new love dear
> > > > And I will always want her near
> > > > Her lips are warm while yours are cold (north beach)
> > > > And release me my darling let me go (my money, dean)
> > > >
> > > > Please release me, let me go
> > > > And for I don't love you anymore
> > > > And to live our lives would be a shame
> > > > And so release me and let me love again
> > > >
> > > > So please release me, let me go
> > > > And for I don't love you anymore
> > > > And to live our lives would be a shame
> > > > And so release me and let me love again
> > > >
> > > > Hey please release me
> > > > And for I don't love you anymore
> > > > To live, excuse me, would be a shame
> > > > And so release me and let me love again
> > > > So release me and let me love again
> > > > Let me go, let me go
> > > > (return my money, my money, my money..)
> > > >
> > > >
> > > > Way to much time in pennsylvania...
> > > >
> > >
> >
>
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