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Thread: Strange demolition: bank repo townhouses and a holdout

  1. #26
    Cyburbian UrbaneSprawler's avatar
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    The plot thickens. I'm wondering if county assessor records (still) reflect the same info since the original pics?

  2. #27
    Super Moderator kjel's avatar
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    It's an interesting conundrum for sure. I am surprised that the owner even got a building permit in the first place to do work on it. I have a similar situation with two of my properties that were acquired from REO as part of our NSP project. We own two out of the three units but they all have a common sewer lateral to the main sewer line in the street and naturally it's damaged. The third unit is quite derelict and has a tenant which uses water and the toilet which causes sewage to back up into the basements of all three units. We've tried unsuccessfully to get the owner to the table to negotiate a share of the repair or outright purchase. Now it's in the hands of code enforcement to try and flush the owner out of the woodwork or get the building condemned. I'd like to tear my two units down and build new but if I do that the remaining unit would probably look something like the one pictured as there is no telling how they were constructed 80 years ago.
    "He defended the cause of the poor and needy, and so all went well. Is that not what it means to know me?" Jeremiah 22:16

  3. #28
    Cyburbian Cardinal's avatar
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    I don't see how the bank could prevent him from repairing the walls without incurring liability for any damage that might be caused when it created exposure through its own demolition of the neighboring properties. I wonder if it isn't the bank that is footing the bill.
    Anyone want to adopt a dog?

  4. #29
    Cyburbian Luca's avatar
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    Amazing-looking beach. Pity about all the ugly buildings.
    Life and death of great pattern languages

  5. #30
    Cyburbian fringe's avatar
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    Thanks for sharing.

    Looks like the "smartest guys in the room" are in charge here.

    No wonder financial services drove our economic car into the ditch.

  6. #31
    NIMBY asshatterer Plus Richmond Jake's avatar
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    Slowly but surely, they are making progress in securing the property. It could be livable at some point. From this morning:




  7. #32
    NIMBY asshatterer Plus Richmond Jake's avatar
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    They continue to make progress. I took these yesterday morning.




  8. #33
    Cyburbian Tarf's avatar
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    What a sore for sighted eyes.
    In the beginning the Universe was created. This has made a lot of people very angry and been widely regarded as a bad move. (Douglas Adams)

  9. #34
    Cyburbian Coragus's avatar
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    I've got to know. What bank did this? I'll put money on Bank of America.
    Maintaining enthusiasm in the face of crushing apathy.

  10. #35
    NIMBY asshatterer Plus Richmond Jake's avatar
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    Quote Originally posted by Coragus View post
    I've got to know. What bank did this? I'll put money on Bank of America.
    A small southeastern financial institution: a subsidiary of Regions Bank.

  11. #36
    Cyburbian mgk920's avatar
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    I'd hate to say bit, but that sand looks a lot like snow in that second image.



    Also, it almost looks like one could immediately attach a set of wheels to it and haul it right away to their favorite nearby trailer park. Yikes!



    Mike

  12. #37
    Cyburbian Streck's avatar
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    One possibility is that there was a total of only four condo owners, and the building needed so much in repairs that the other three decided to sell out to the remaining owner (at a a good price). The remaining owner as sole owner could now disolve the condominium and demolish the other three, which might be cheaper than repairing them. He now has control of the full lot and doesn't need access permission to improve his outer walls.

    The disolution would be a private contract which would not necessarily be public knowledge. He might need a demolition permit. He would probably need a building permit. All this could be perfectly legal. This would just be helpful in figuring out what is going on, if it is any of our business - or just a curiosity thing.

    Anyway, he now has a "single family residence" on a lot that has plenty of room for a nice (covered ?) deck at a presumably prime water-front location on the "Red Neck Riviera" (? someone said), and he could have made a really good deal!

    Interesting.

    I would like to see what the finished product looks like.

  13. #38
    NIMBY asshatterer Plus Richmond Jake's avatar
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    He's getting close.

    This is from this morning.




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