Originally posted by No Job Bob:
eye like dis...eye thonk dis guy gots job.." don'ts be two shore bout da new biginning!
Overtaxed_Voter (13 comments) posted 7 hours, 54 minutes ago
I wonder if the $460,000 bid will actually be anywhere near enough to cover the balance of the current mortgage on the property?
Remember, it was Swindell who, back in 2006, claimed to have $3 million in the property .
How much of that was financed and how much was cash from Dan's pocket?
It is fine and dandy to have an 'absolute auction' where "This property sells without reservation to the highest bidder", but unless you clear up the encumbrances on the property, you can't pass deed and title.
Wasn't this the big glitch that came up when Mark M***ant had supposedly purchased the facility from Dan back in 2007?
http://www4.vindy.com/content/.../327955416110377.phpDon't forget, the auction's "Terms on Real Estate" stated "15% down day of sale" with " balance due upon delivery of deed and title guarantee."
According to the Mahoning County court website, there is a little matter of a HUGE Certificate of Judgment that Sky Bank (the folks who called Dan's note in the Fall of 2006, forcing the first QCR auction attempt) have against Daniel and Patricia Swindell
http://courts.mahoningcountyoh....o_case_sum?47219071which might throw a big monkey wrench in the ability of property title to pass to Mr. Fox.
In addition, there is still also an active civil case in Mahoning County involving Ecks Racing Inc suit against Quaker City Raceway Inc. et al over the contract between the two parties a few years ago to sell the track
http://courts.mahoningcountyoh....o_case_sum?23310227The devil is in the detail, and this transaction still seems to have some large "details" to still be resolved.
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