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Updated about 8 years ago on . Most recent reply

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15
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Mason Lopez
  • San Angelo, TX
2
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15
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Home built 9 feet too close to the curb makes local news

Mason Lopez
  • San Angelo, TX
Posted

I came across this post today. I was wondering what solutions anyone had if you were in this guy's shoes? The home is under contract to buy and had been been sitting on it for 19 months paying interest to the bank. Is he really paying interst only? Or was I reading that too literally?

What would be the solution to this builders problem? It is financed at this point for $300,000. Is it better to demolish or to adjust what has already been built to fit compliance?

click the link to see the rest of the details...

http://sanangelolive.com/news/business/2017-03-07/...

Most Popular Reply

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2,667
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Deanna McCormick
  • Minneapolis, MN
1,760
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Deanna McCormick
  • Minneapolis, MN
Replied

Builder was lucky the variance was granted..House stays as is and can be sold.

So not sure what your question is..

He probably couldn't close or market the property if he had a buyer until the city council had decided his case.

He may have had interest only note due that he used to finance the project.. until sold. 

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