The bridges in Rancho Santa Fe 5 million Dollar foreclosure!
Foreclosures, Notice of default, Auctions, Overall terms we have become familiar with in this real estate cycle. Many of us including the public have learned a few things about buying foreclosures!
This is a home built by Jim Sylvester, was on their market as a short sale for $6.9. Million's were pulled out of this property by the builder the builder got behind on the payments and lender foreclosed and the builder(now bank owned) I was told by the front gate guy durinbg the short sale listing a tenant lived in the property so when did the builder "Jim Sylvester" move back into the estate per info, again from the guards at the front gate. My name is Michael Blue and I was hired to inspect the property and determine if it is occupied and by whom per the PTAFA (protecting tenants at foreclosureact).
Funny thing, after my first visit to the property, any futher visits were denied by the gaurds per the sales office. Huh? The current owner has given me permission to inspect and post notices explaining the rights of any occupants. The current owner wants to see photos of the property, know who is in their property and provide any occupants with information regarding their rights to the property. Why would the gaurds deny my access? A middle aged man approced me at the gate claiming to be the developer of "The Bridges" but would not give me his name? Huh? By the way, The Bridges knows this property is lender owned and is in the guards computer system at the front gate and this unknown developer of "The Bridges" claimed no knowledge, scoffed at my paperwork and had lost his temper and was yelling at me as I sat in my car patiently waiting to enter and do my job at the property.
The developer finely told me his name was "Ken Aires", although I can not verify his name with the development on the internet. What I did see was a picture of the Sales Rep, Bob Jackson. Bob Jackson looks just like Ken Aires at the front gate. Also, I was given clearance to enter The Bridges by the other sales associate Gorden Cooke. On the internet this development has been involved in lawsuits and fighting amoung then owners or partners, (click the highlighted area for more). I also find out Ken Aires or Bob Jackson is friends with the former owner/builder of this home, Jim Sylvester. Is Ken Aires or Bob Jackson protecting Jim Sylvester from big bad me, working within the law on behalf of the new owner and yet offering information on the current foreclosure laws designed to protect innocent occupants of a foreclosed home! Click here for more info on The Bridges and the partners lawsuit.
Why would anyone move into a home that was in foreclosure or already forclosed? Here are some answers, money! Sure, after pulling millions in financing now looking for more with "Cash for keys" or another term relocation assistance, living in a home for free until the unlawful detainer or the CFK, And yes the wealthy do this type of thing too! I think after millions have been pulled from the property and the bank takes it back, move on, start new, do something else, use your talents on another project.
The Bridges in Rancho Santa Fe is a gate guarded upscale community. A foreclosed property is not a bonus to such a community, I represent the lender doing the tenant and inspection work. If you took possession of a $5 million home you too would want to know a few things. Is the property occupied if so by whom? What condition is it in, are there any emergency repairs?
The bridges in Rancho Santa Fe 5 million Dollar foreclosure!
For more information on this estate not yet on the market, contact me for past and present information at Michael@San-Diego-REO.com.
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