The blog has been remiss in posting the public record of the court case for specific performance that was decided recently against the Vue Charlotte, and we apologize for that and will get that posted next week. Other than that, there really has been so little communication or information that there has literally been nothing of note to post.
I expect this to be the case for possibly a good while. The reason is this. The case has been appealed, and the ruling could change. This would be devastating for the pre-sales buyers, and while the probabilities are that it won’t change, it is always a possibility. And from the Vue’s point of Vue, as long as it is indeed a possibility it makes perfect sense for the Vue to try to make it a reality. If they have the staying power then why not fight and take the small chance that they can get a favorable ruling?
In the meantime though, since the ruling, the public record of closings has not gained a single one — closings in the Register of Deeds remain at 16. We could see the number rise but it is hard to imagine that any buyer with full knowledge of what is going on would do so at the current prices. The court case as it stands gives pre-sales buyers the legal grounds to walk away from their deposits without any further penalties for doing so (other than forfeiting their deposits).
I have not heard from a representative set of buyers to understand what the Vue sales team is currently doing. Are they still calling you trying to get you to close? Are they passing on pre-sales buyers for now and focusing on new buyers that may not be as familiar with the situation as the pre-sales buyers are? We do not know the answers to these questions.
So please don’t be surprised if there are gaps between posts. We’ll do the best we can to keep you informed but we rely on the pre-sales buyers and our readers to provide the information. Judging by the lack of communications as of late, we are thinking that all is quiet while the Vue works on an action plan while the appeal works its way through the court system. From what I have been able to find out so far, this could be months to a year; a seemingly interminable amount of time for both the pre-sales buyers and the Vue Charlotte. I think both sides would appreciate a final legal answer so that we could move forward.
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