Sorry, No More Garages
Bankrupt home builder, Whitney Lake, filed its Disclosure Statement on Dec 17. Among others, the home builder unveiled a list of townhome sale and purchase agreements which it was prepared to assume. Buyers who have put down deposits – have you found out whether you fall within this class yet? Email adria@homebuilder-bankruptcy.com for a copy of the list.
What’s the twist? Whitney Lake also stated that the provision of detached garages in Phases 1b Infill will not be assumed. Some garages had been sold “in error” as the Master Plan did not allow enough room for the detached garages in Phase 1b Infill.
Whitney Lake will not be the first or last home builder in bankruptcy who might be making modifications to the master plan or the development after buyers have signed the sale contracts.
