pier sold

[RUGMAN]

Was walking my dog on the weirs boardwalk this morning,rsn into a women who said that the people from flight craft bought the pier, I am new to area and only see flight craft on rte 104. anyone hear any more on this. She also said someone bought the building at the end by the drive In. maybe something new will help rebuild this area.

[LIforrelaxin]

Was walking my dog on the weirs boardwalk this morning,rsn into a women who said that the people from flight craft bought the pier, I am new to area and only see flight craft on rte 104. anyone hear any more on this. She also said someone bought the building at the end by the drive In. maybe something new will help rebuild this area.

I don't have any information on this....

However this would give flight craft a presence on the water... so I wouldn't be surprised.

[Woodsy]

Pier sold to ECF is definitely true.... they have some pretty nice plans for the place! Gas & store should be back next year! Stay tooned!

I haven't heard anything about the old waterslide property selling....

Woodsy

[nhyitbos]

The waterslide is staying an open space/park for now (still working on plans of what to build there)..however, the ugly yellow building is being redone as a restaurant with an outdoor patio per my discussion with the owners. One of the owners is an architect so I trust it will fit into the landscape.

As for the pier, I'll believe it when it actually closes. Heard Abdulla's were allowing the "buyers" to start basic repairs ( Lord it needs it) like electrical and plumbing..who's to say that the owner's won't pull out of deal after buyers pay for the work needed....hope I am VERY wrong... Just saying.:rolleye2:

[LIforrelaxin]

The waterslide is staying an open space/park for now (still working on plans of what to build there)..however, the ugly yellow building is being redone as a restaurant with an outdoor patio per my discussion with the owners. One of the owners is an architect so I trust it will fit into the landscape.

As for the pier, I'll believe it when it actually closes. Heard Abdulla's were allowing the "buyers" to start basic repairs ( Lord it needs it) like electrical and plumbing..who's to say that the owner's won't pull out of deal after buyers pay for the work needed....hope I am VERY wrong... Just saying.:rolleye2:

If the Buyer is starting to do repair work before the deal.... The should have a contract with the current owner, allowing them to do so... and that contract should stipulate that should the Current owner pull out of sales agreement, that they must reimburse the buyer.

[nhyitbos]

If the Buyer is starting to do repair work before the deal.... The should have a contract with the current owner, allowing them to do so... and that contract should stipulate that should the Current owner pull out of sales agreement, that they must reimburse the buyer.


Based on results and a long resident of the Weirs, if the owners had the money for repairs; they would have done so; which is my point. You can't collect from an empty back account..and a long drawn out suit is the only way to rectify.

There is nothing you can do to ensure that the seller won't let you make the repair then turn around and sell it for a higher price to someone else. You don't have any legal rights to the property. Again, you might be able to create a separate contract with the seller, but, if they breach that, again you now have the problem of trying to collect - bottom line, you have no rights to the real estate; the seller needs to get a SHORT TERM loan to do the repairs.

Of course, the pier MIGHT (doubt it) have lowered the price to compensate for repairs. The buyer needs to CYA all the way around.

[Descant]

nhyitbos "There is nothing you can do to ensure that the seller won't let you make the repair then turn around and sell it for a higher price to someone else."

Business deals are not like selling a house where there is a standard contract and everything happens in 30 days. (A house seller can't just walk away from a contract either.)
In a deal of this size, I'm sure both buyer and seller have had adequate legal advice. They are both bound by whatever contract they agreed to and default by either party would have consequences, including a cloud on the title that would stop some other buyer. The seller cannot just walk away and sell to somebody else, whether there are repairs or not.

[nhyitbos]

nhyitbos "There is nothing you can do to ensure that the seller won't let you make the repair then turn around and sell it for a higher price to someone else."

Business deals are not like selling a house where there is a standard contract and everything happens in 30 days. (A house seller can't just walk away from a contract either.)
In a deal of this size, I'm sure both buyer and seller have had adequate legal advice. They are both bound by whatever contract they agreed to and default by either party would have consequences, including a cloud on the title that would stop some other buyer. The seller cannot just walk away and sell to somebody else, whether there are repairs or not.


Please take this in the spirit it's intended...as a retired commercial broker and land developer in the fourth largest city in the nation...there is a difference between binding and enforceable...hopefully it has both...always a way to "get out" for either parties...I was commenting that I fear more for the buyers in this deal....again...they don't own the property...would be interested in seeing the legal language that protected the buyer from the seller implementing (just my) the scenario that I stated. Oh, don't ever say never, one of my property owners called to say that his house was going do the road on a flatbed semi...as I was 250 miles from him, suggested he call the police..then the insurance company. lol
:)

[Lakeboater]

What is the fourth largest city in the country? Just curious.

[secondcurve]

What is the fourth largest city in the country? Just curious.

I believe it is Houston.

[Descant]

nhyitbos, I sent you a pm. I hope we'll see more of you on the forum.

[RUGMAN]

Anyone with any smarts wouldn't think of starting work on a piece of property they don't own. It would be crazy to start any work before the closing. Going back after would be expensive. Can't get blood out of a stone, no matter how you hard you squeeze.

[garysanfran]

Why do people assume these buyers are morons and wouldn't have thought of not rehabbing someone else's property without legal guidance? Are handshake deals of such magnitude still being done in New Hampshire?

Another question...Did they buy the entire Winnipesaukee Gardens pier? I hope so, and I hope they succeed. But a boring showroom and offices?