Sunday, Feb. 6, 2005 | ||
Bad Links? | Jurors rule in plaintiffs favor over unfinished StoneBriar West lotsBy LEE WILLIAMS Jurors ruled Jan. 27 that a Fayetteville real estate owner embroiled in a land dispute with several investors will have to turn over the remaining 45 lots located in the Stonebriar West subdivision and fork over $100,000 in attorney fees and legal expenses to his civil court challenger. Legal representatives filed a civil suit in the Fayette County Superior Court on July 7, 2004, on behalf of Ray M. Wright of Ray Wright Homes Inc., Ravin Homes Inc. and Chris Dixon and Associates, after a conflict with Dan Stinchcomb of Victor Holdings LLC. reached deadlock. Wright and his fellow plaintiffs signed a Lot/Land Purchase and Sale Agreement with Stinchcomb on Feb. 23, 1998. Wright purchased 116 lots in the former Magnolia Ridge subdivision. The parties agreed to close the sale of these 116 lots in two phases, according to the complaint. In the first phase, the plaintiffs were to purchase 60 lots for a price of $27,500 per lot. In the second phase, plaintiffs were to purchase the remaining 56 lots at a price of $28,000 per lot. The plaintiffs paid Stinchcomb $10,000 earnest money. The plaintiffs purchased the first 71 lots including 60 lots at $27,500 and 11 lots at $28,000, Stinchcomb did not refund the earnest money, or apply it to their closing costs, according to the suit. Later, Stinchcomb refused to turn over the remaining lots to the plaintiffs, the suit reads. Thats when controversy began to brew. Stinchcomb told Robert Dixon that the price for which he had agreed to sell the lots was too low, the suit states. Stinchcomb offered Mr. Dixon $50,000 to back out of the contract. Stinchcomb eventually demanded that plaintiffs pay an added $3,000 per lot for each of the remaining 45 lots. Wright and his camp disagreed. The group procured an attorney who relayed the message to Stinchcomb. Talks between the parties deteriorated. In a Feb. 4, 2002, quit-claim deed, Stinchcomb transferred the property to Victor Holdings, a company run out of his house. Stinchcomb agreed with portions, but he largely dismissed most of his challengers claims. Stinchcomb submitted the land was not turned over since the agreement was not fully honored. After the plaintiff failed to timely tender payment in accordance with the terms of the agreement, Stinchcomb offered to sell lots to the plaintiffs at a higher price, Stinchcombs attorney stated in response to the lawsuit. The agreement provided that the closing on the first phase was to occur within 10 days of the final plat of the phase one being finished and received. The closing of phase two was to take place nine months after the closing of phase one. In the end, the jurors sided with the Wright party. Jurors ordered Stinchcomb to sell the remaining 45 lots in the Stonebriar West Unit 2 Phase 2 to the plaintiffs at the original contractual price of $28,000 per lot. This transaction must close by March 1, 2005, the verdict specified. The jurors also ruled the transfer of land from Dan Stinchcomb to Victor Holdings was null and void, and the plaintiffs earnest money must be credited toward the purchase of the remaining 45 lots, among other stipulations. One resident who lives in StoneBriar West said she is happy, but a bit saddened the undeveloped land that borders her home will finally become developed. Its unfortunate that its taken so long, said the resident who spoke on the condition of anonymity. In the meantime, the abuse of the community (that exists) is sad. She said many people have turned the overgrown wooded area into a dumping ground. She often spots trash, discarded appliances, furniture and yard waste, clothing, books, shotgun shells, and even pornographic materials while walking her dog along the thicket. I wonder who are we? she said. I would say we dont have any conscience now. I guess they think someone will clean it up. The resident said some residents might opt to trade in one of the newer homes built on the addition for their existing home in StoneBriar, which will be a plus for residents. But one of the drawbacks the resident said is the clean air and breathtaking views of streams and wildlife that call the thicket home will have to find another place to go. And that could spell disaster for passing motorists who travel along Lester Road, where the subdivision is located, she said. |
|
Copyright 2004-Fayette Publishing, Inc. |