SOBU Homeowners All signed Purchase and Sales agreements are needed to be turned in to the SOBU Assemblage LLC Before 29 Feb 08. If we do not have all 100% of homeowners signed on purchase and sales agreements we will terminate all contracts, for the property is not fully marketable. This Thursday we have a 2nd meeting with a group that has expresses interest. Only with 100% participation will they move forward with an offer.
The continued deterioration of the condo market, and the amount of money needed to convert back to rentals, has made it hard for perspective buyers to get the “numbers” to work. The skinny is we need everyone to sign or we can not move forward with the party that has expressed interest.
On another note, Chris Tilley, Thank you for your time, and all the help keeping things together the past few months.
Sobu Flats Assemblage has moved to www.sobuflats.info
Please visit www.sobuflats.info
4 comments:
Thanks for all of your hard work Annie & Josh. Realistically, the remaining 5 have said they will never sell, so I have lost all hope. Thus, would you represent me to sell my property on the regular market?
lets put the screws to these people. Maybe they are renting there place out illegally or something? We must find some way to lean on them.. maybe another meeting or something to get face time with them to explain how miserable life will be in a building where you screwed everyone out of a great opportunity.. cant hurt to try
Annie & Josh- Is there any way to list Sobu Flats internationally?
With the weak U.S. dollar, perhaps, a foreign investor could get more bang for his/her buck?
I think that we need to have another meeting in which the hold- outs are present. During this meeting we should entertain their concerns in an effort to determine why they are allowing a perfectly good opportunity to wither. It could be that these individuals know something about the markets( and economy) of which the rest of us are not aware. Alternatively, the individuals that are holding out are simply not informed. If the latter is the case, we should provide them with a Suzy Orman style information session that will logically and analytically explain the good, the bad and the ugly economics of not following through with this opportunity. In this way, we might persuade them that signing the contract is really a good thing. Of course, if the individuals holding out see this as a cash cow (aka lottery) opportunity or are incognizant enough to believe that they can sell real estate based on future value then it is likely that they will never be persuaded positively. In any event, we owe one more chance to this opportunity to attempt to get everyone on board.
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