[TheForge] long time to read

[terry l. ridder]

hello kim;

how goes it?

The property next to the cliff and which has been falling in over the
past several months is a legal nightmare. basically, a retired
policeofficer purchased the home from a developer/builder for somewhere
around 145,000.00 GBP. The retired policeofficer failed to make any
observations concerning the subsidence problems in the area, i
personally think she had "stars" in her eyes and completely ignored the
visual warnings. The developer/builder seller failed to disclose the
subsidence issues to the buyer. The house basically breaks in half and
falls down to the beach and partly info the ocean.

Given the legal nightmare the lower slope may not be stablized by an
"uninterested" 3rd party. Basically, I would have to guaranty that
nothing that we would undertake to stablize the slope would make matters
worse for the all ready damaged house and property. I am not willing to
take on that legal olibigation. If it would stablize you are a hero . if
the lower slope does not stablize and continues the march to the ocean
you are the devil incarnate. Both the developer/builder/seller and
retired policeoffice/buyer would be suing you.

The cost of the steel plates and cables stablization of the Tor house is
gicen as 100,000.00 GBP minimum to a maximum of 150,000.00 GBP. if the
stablization of the Tor house were to succeed, the home, garden, ocean
view, etc would easily sell for 500,000.00 to 750,000.00 GBP. It is a
gamble, no doubt about it. could lose the auction price of the property
and any steel and cable work cost if the cliff cannot be stablized even
with the steel plates and cables. Basically, you are trying to build a
very large retaining wall with a very large deadman weight. None of
which has ever been tested.

so I could lose 175,000 GBP or make a profit of 750,000.00 GBP - 175,000
GBP == 575,000.00 GBP on the high end
500,000.00 GBP - 175,000 GBP == 325,000 GBP on the low end.
than there are the taxes and fees and lawyers and solictors.

It all comes down to how much are you willing to risk?


On Wed, 10 Jul 2013, Kim George wrote:

> The queston is not that it can be done ,it's how much it will cost and
> will you have to stabilize the lower slope first. If the lower slope
> has to be done first you will never get your money out.
>
>

-- 
terry l. ridder ><>