--- In AsburyPark@yahoogroups.com, "justifiedright"
<[EMAIL PROTECTED]> wrote:
>
>
> There's no way the Court will be able to sell that building unless
the
> bank agrees to take a loss.
>
The COURTS (the system), as Tommy knows, is problem in trying to
determine value. I just got back from Bankruptcy Court, in Trenton.
Good thing all those attorneys in the court room were able to bill.
Then to say, come back again, with more proof that you should be paid
for doing YOUR job, like getting money INTO the bankrupt estate. For
some reason, sales contract, listing agreements, judges order,
closing statements aren't enough.
Great system.
That will became the fate of 601 Bangs as well and a few others. Toss
out the appraisal and view the building, actually offer to PAY the
brokers IF they sell the building and view the parking situation
there as a major stumbling block - and the cost to bring that
building up to date and, tom pointed out, a sweetheart lease that a
new owner would have to eat.
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