Homebuilder-Bankruptcy.com

The bankruptcy court entered an order yesterday authorizing Heritage Highgate, the bankrupt New Jersey home builder, to sell homes free and clear of lien. Nothing in the order binds the purchaser (the deposit holders) to go forward with the closing. For those of you interested in the list of Heritage Homes lots for sale, email [...]

There were two recent Feb’09 filings of home sales by bankrupt home builder, Whitney Lake:
PROPERTY TO BE SOLD: Unit 174, 1719 Brittlebrush Lane, Charleston, SC
PRICE: $188,760
PROPERTY TO BE SOLD: Unit 181, 1735 Brittlebrush Lane, Charleston, SC
PRICE: $195,000
The home builder also covered $4,000 of the Buyer’s closing costs and pre-paid items.
These are sales made free and [...]

In December 2008, Caruso Homes (which filed for Chapter 11 in Jun’08) decided to pursue an auction sale of real property in connection with the following Projects as the means to obtain highest and best returns to their estates and their creditors.
These properties were sold at an auction mostly to lenders at the following prices:
Buyers [...]

Heritage Highgate and Heritage Residential, developers in New Jersey, recently filed for bankruptcy on Jan 20. In first day motions, the companies sought authorization to sell certain properties free and clear of liens, i.e., seeking authorization for the ability to deliver clean title to buyers.
What is interesting is that the developers and their main lender, [...]