How do you find a cheap home for sale in the bargain pile from financially distressed builders? Looking into bankruptcy filings, we use John Laing Homes as an example of what buyers might expect from buying from a distressed builder, should it go into bankruptcy.
Jun’09 Update: Properties on Fire Sale
John Laing Homes is undergoing impending [...]
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Village Homes of Colorado filed for Chapter 11 in Nov’08. One of the first few significant actions is to continue selling homes in the ordinary course of business. The home builder had 142 homes in inventory, 11 being completed homes under contract with a buyer, 79 being completed homes not under contract and the remainder [...] |
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