After days of waiting and numerous phone calls to the sellers of parcels 2 & 4, as well as their Realtor, the final contract should be ready to sign tomorrow. The sellers wanted to close in 2 weeks but I they agreed to push it to Feb 15, which would be 3 weeks. I think it will take that long to get the paperwork and funds available.
The sellers had received another offer from the St. Mark’s Church, but it was with financing and so they accepted our contracts. The realtor told me tonight that St. Mark’s had changed their offer to a cash offer. The realtor just called me and told me they have accepted the contract and are signing it now. It should be ready for me to sign and deliver a $5000 deposit tomorrow.
The sellers want to rent both houses for $3500 for up to 90 days. I’ve fine with that. That will pay our carrying costs for 3 months. Hopefully by that time, we’ll have a definite plan in place for developing the land.
I have pledges for $525,000 from 8 investors and one more had expressed an interest but not yet pledged. We need to raise another $145,000 to close. I will widen my publicity outside of our local church and publicize everywhere I can think of. All help in this endeavor will be welcome (please help).
A real estate attorney, Gordon Schiff, was recommended to me by an architect friend who has been advising me, Gerry Curts. Unless there are any objections, I will contact him tomorrow to discuss the project and begin the Trust, promissory notes, and mortgage on the property. I will also contact the title company, American Home Title of Tampa Bay, to find out how the closing funds should be delivered.
I am trying to create a blog space where we can share ideas and questions only among ourselves. I also want to create a record of communications. This is new for me… just one more technological skill to learn.
I’ll keep everyone informed of evolving events.