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Covenant Violated

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mikepsu

Junior Member
What is the name of your state? Pennsylvania
My wife and I purchase a pre-developed plot in a gated golf course community about 6 years ago. There were no utilities and no sewer or drainage ditches anywhere in development at that time. Three years later we noticed on our golf course lot that they built a water drainage ditch right in the middle of our property coming down off the mountain but they decided to move the drainage over which we thought was off our property. We recently had our lot on market for resale and actually had a buyer but they measured the dimmensions and notified us that the drainage ditch is well within our property. We have since lost our buyer and we measured and they definitely violated the covenant and I believe our lot has depreciated in value because of this easement which we did not give permission . The General Manager tells us we are correct and will get someone to correct or if they cannot(due to fact the entire road needs to be ripped up to divert drainage system) he would offer another lot on golf course worth a lot more money. One, we dont believe this to be true and two, we want the lot which we originally purchased.
At this point, we would just like our money back for price we paid plus our interest or do we have the right to ask for fair market value of lot . We just want what is fair and not trying to gauge anybody
 


I AM ALWAYS LIABLE

Senior Member
mikepsu said:
he would offer another lot on golf course worth a lot more money. One, we dont believe this to be true and two, we want the lot which we originally purchased.

At this point, we would just like our money back for price we paid plus our interest or do we have the right to ask for fair market value of lot.

My response:

These are three, totally divergent, concepts. What do you want - - a lot of better value, your original lot, or your money back?

IAAL
 

mikepsu

Junior Member
PA
Thanks for replying so quick. We just want our money back. We paid $26,900 6 years ago and have been making payments with interest. The General Manager now tells us the one lot on same fairway, they are selling in the $70,000's. Hard to believe. What are our rights
 

I AM ALWAYS LIABLE

Senior Member
mikepsu said:
PA
Thanks for replying so quick. We just want our money back. We paid $26,900 6 years ago and have been making payments with interest. The General Manager now tells us the one lot on same fairway, they are selling in the $70,000's. Hard to believe. What are our rights

My response:

"Hard to believe" from 6 years ago? Pal, have you seen the real estate market lately? When was the last time you more than doubled your money in 6 years?

If I were you, I'd take him up on his offer.

IAAL
 

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