Legend Homes Bankruptcy

[bsrsharma]

Legend Homes, an Oregon based builder with a large project in Murietta area in Riverside county has declared Chapter 11.

http://www.oregonlive.com/business/oregonian/index.ssf?/base/news/121315650624890.xml&coll=7&thispage=1

What caught my eye is:

About 30 buyers have paid earnest money for homes with sales that have yet to close. The company plans to petition the bankruptcy court to allow those deals to close.

When a home builder goes belly up, where does the buyer stand in the bankruptcy precedence? Can a buyer lose his earnest money?

[PadreBrian]

wow, that’s out in the middle of no where. I bet the city of Hemet thanks those developers for a free new 4 lane parkway that connects right up to 215. lol

[PadreBrian]

wow, that’s out in the middle of no where. I bet the city of Hemet thanks those developers for a free new 4 lane parkway that connects right up to 215. lol

[PadreBrian]

wow, that’s out in the middle of no where. I bet the city of Hemet thanks those developers for a free new 4 lane parkway that connects right up to 215. lol

[PadreBrian]

wow, that’s out in the middle of no where. I bet the city of Hemet thanks those developers for a free new 4 lane parkway that connects right up to 215. lol

[PadreBrian]

wow, that’s out in the middle of no where. I bet the city of Hemet thanks those developers for a free new 4 lane parkway that connects right up to 215. lol

[patb]

i imagine the buyers are unsecured creditors.

unless the deposits are in actual escrow they are scrwed

[patb]

i imagine the buyers are unsecured creditors.

unless the deposits are in actual escrow they are scrwed

[patb]

i imagine the buyers are unsecured creditors.

unless the deposits are in actual escrow they are scrwed

[patb]

i imagine the buyers are unsecured creditors.

unless the deposits are in actual escrow they are scrwed

[patb]

i imagine the buyers are unsecured creditors.

unless the deposits are in actual escrow they are scrwed

[Coronita]

 Wow…

Actually, i find this too bad. I actually was looking into an investment property in Oregon built by Legend Homes, and unlike some other builders, I'd say they're pretty decent for a tract home. 

[img_assist|nid=5962|title=selfportrait|desc=|link=node|align=left|width=100|height=80]

—– Sour grapes for everyone!

[Coronita]

 Wow…

Actually, i find this too bad. I actually was looking into an investment property in Oregon built by Legend Homes, and unlike some other builders, I'd say they're pretty decent for a tract home. 

[img_assist|nid=5962|title=selfportrait|desc=|link=node|align=left|width=100|height=80]

—– Sour grapes for everyone!

[Coronita]

 Wow…

Actually, i find this too bad. I actually was looking into an investment property in Oregon built by Legend Homes, and unlike some other builders, I'd say they're pretty decent for a tract home. 

[img_assist|nid=5962|title=selfportrait|desc=|link=node|align=left|width=100|height=80]

—– Sour grapes for everyone!

[Coronita]

 Wow…

Actually, i find this too bad. I actually was looking into an investment property in Oregon built by Legend Homes, and unlike some other builders, I'd say they're pretty decent for a tract home. 

[img_assist|nid=5962|title=selfportrait|desc=|link=node|align=left|width=100|height=80]

—– Sour grapes for everyone!

[Author]

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