We have gone through an amazingly quiet patch of time of late, with literally no news coming from readers or the Vue Charlotte. That changed yesterday, when the blog was informed that the Vue has sent at least some pre-sales buyers a letter saying there are some new financing options and that the Vue is willing to be flexible in some cases to negotiate. I do not have a copy of the letter, and I hope I have the facts right. If someone could provide the blog the text that way we could be completely accurate.
The impression I have so far after hearing reactions to the letter is that it is a non-event. It would almost have to be since the strategy so far has been to try to get the courts to reverse the earlier ruling which said the Vue cannot force pre-sales buyers to close. The court firmly ruled that pre-sales buyers are not in breach of their contracts and that the remedy to the Vue is that buyers lose their deposits. This appeal process could very well last until next year so until then the Vue’s options to negotiate may be limited. Personally I wish they would abandon this strategy but with so much money at stake and the real estate market not exactly roaring they may not be sacrificing a lot by taking this route.
Closings in the Register of Deeds remains at 16. Charlotte weather, like must of the country, has been blazingly hot. One has to wonder as the hot sun sears down on the Vue Charlotte what might be happening to the interiors of the almost 400 unsold units. One can only hope there is some protection from the sun so that when sales do resume the units remain in their pristine newly constructed condition.
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