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  • June 11, 2008 at 6:46 PM #13015
    bsrsharma
    Participant

    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?

    June 11, 2008 at 10:33 PM #221561
    PadreBrian
    Participant

    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

    June 11, 2008 at 10:33 PM #221665
    PadreBrian
    Participant

    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

    June 11, 2008 at 10:33 PM #221680
    PadreBrian
    Participant

    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

    June 11, 2008 at 10:33 PM #221709
    PadreBrian
    Participant

    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

    June 11, 2008 at 10:33 PM #221730
    PadreBrian
    Participant

    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

    June 12, 2008 at 12:06 AM #221596
    patb
    Participant

    i imagine the buyers are unsecured creditors.

    unless the deposits are in actual escrow they are scrwed

    June 12, 2008 at 12:06 AM #221697
    patb
    Participant

    i imagine the buyers are unsecured creditors.

    unless the deposits are in actual escrow they are scrwed

    June 12, 2008 at 12:06 AM #221713
    patb
    Participant

    i imagine the buyers are unsecured creditors.

    unless the deposits are in actual escrow they are scrwed

    June 12, 2008 at 12:06 AM #221744
    patb
    Participant

    i imagine the buyers are unsecured creditors.

    unless the deposits are in actual escrow they are scrwed

    June 12, 2008 at 12:06 AM #221765
    patb
    Participant

    i imagine the buyers are unsecured creditors.

    unless the deposits are in actual escrow they are scrwed

    June 12, 2008 at 6:49 AM #221631
    Coronita
    Participant

     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!

    June 12, 2008 at 6:49 AM #221732
    Coronita
    Participant

     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!

    June 12, 2008 at 6:49 AM #221748
    Coronita
    Participant

     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!

    June 12, 2008 at 6:49 AM #221780
    Coronita
    Participant

     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!

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