John Laing Homes’s CRO declared that the expected rate of return on investment on distressed homes is around 18-20% and that such residential properties are routinely sold in bulk to speculators at 20-25 cents on the dollar.
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John Laing Homes’s CRO declared that the expected rate of return on investment on distressed homes is around 18-20% and that such residential properties are routinely sold in bulk to speculators at 20-25 cents on the dollar. *For up-to-date information, download property descriptions & valuations in Quarterly Reports on Properties from Distressed Home Builders Heritage Highgate and Heritage Residential (both filed for Chapter 11 in Jan’09) stated that they have offered and continued to offer all home buyers warranties. They would fund all warranty items arising in the initial one year period following closing and, beyond that, a national warranty company steps in. The court has authorized Mercedes Homes to continue to honor obligations related to Customer Programs, including warranty claims. Two limitations: Dunmore Homes revealed in its Disclosure Statement that it had significant contingent liabilities, including homeowner warranty obligations. Some of these warranties were insured by Premier Indemnity Co, but homeowners would claim directly against the home builder. There were about 150 homes covered by this kind of warranties. Note, however, that Dunmore Homes owed approximately $700,000 [...] |
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