Thursday, December 6, 2007

Title Search On Adjacent Property



I recently had a title search done on
the adjacent property (mine too. I'm
named as the owner of my property). East
Windsor Cogeneration Properties only
paid $144,100 for my former neighbour's
home. And the purchase price includes
a top up of 10%. Well actually it is
the appraisal plus 10%. I was offered
slightly less.

What has me perplexed is the purchased
price is slightly more than what the first
owners of the properties paid in 1991. In
fact without the 10% top up, the price is
less than what the first owners paid in 1991.
I belive they paid 137,500. I'll have to check
the number, but I do know it's more. 1991, is
16 years ago. What's wrong with this picture?

Note that the transfer of ownership occurred
on October 24, 2007. If you've read my post of
November 12th, 2007 titled, "Next Door
Neighbour Moved?" I wrote about the arrival of
a moving truck. Also if you've read my September
12th, 2007 post titled, "East Windsor Cogeneration
LP -Half a House?" I wrote about the meeting
I had with EWCC's Buckingham agent in which
he informed me he had already made a deal
with my former neighbour.

This is just suppostion of course, but I think
that my former neighbour reached a settlement on
Wednesday, September 12th, 2007, the same day
I met with the agent. September 12th to November
12th, is 60 days. If I'm correct, then the
transfer of ownership of the property occurred
the week before the closing date of November 12th.
Again, I'm just speculating. I could be wrong.
But then again, I could be right. I wonder
when the funds were received? Was it October
24th, 2007 the date EWCP became the new owner
of the property or was it a later date like November
12th, 2007, the date the moving truck arrived.

As you can see from the document the purchase
price, the name of the old owner, new owner,
the date of the transfer of ownership is public
information. Click on image to enlarge.

Also scroll down to my post titled, "Confidentialty
- Clause Still Here" click on image and read
the Confidentiality clause. Also read the Assignment
clause.

Also see November 7th, 2007 post tilted, "The
Agreement- Unequal Grounds"

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