Wednesday, January 25, 2006

The Real Estate Scoop

It wasn't difficult to find out what the deal is with the 3 properties Robin de Groot and Evan Karras "purchased" (and purchased is a stretch since it appears that none of the money was theirs). They actually tried to list the properties with a local agenda named Sandy Lauwson who knew something was up when they said they didn't want to advertise. As it turns out, the money owed on the properties (to someone in Burlington and someone in Oakville) exceeds the value of them. They are now under Power of Sale and sadly, are sitting in disrepair. The pipes and sprinkler systems have frozen and burst in the Sidbrook property, decreasing it's value even more. The hotel on the main street was sitting mid-construction with no windows in the middle of winter. It is my understanding that the city waded in a paid to have windows installed.

1 Comments:

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