June 22, 2009

There is some confusion Mr. Meyer...

We were at the cottage. The deadline for "bids" was looming. Someone asked if there really were other interested buyers? The answer was yes. We were operating under the procedures set forth by Mr. Meyer. We showed the cottage to at least 3 groups of people and I understand a 4th group came through as well. We also considered the July 31, 2007 deadline as the deadline for "outside" offers. The only offer made was by David in the amount of the opening "bid" price.

While all this was going on, Mr. Meyer was getting phone calls and letters. Our attorney tried expressing our concerns...first, the confusion as to the "first right of refusal". In a letter dated July 2, Mr. Campbell writes "Some have viewed the making of an offer of purchase as a waste of time in that perhaps a family member or other could meet the offer, thus negating the efforts of the person making an offer of purchase." He went on to say..."there is confusion as to the low minimum offering price of $575k. For example, the XXX family has a cottage in cottage grove where a cottage that is much smaller than the Symons' cottage is currently on the real estate market with an asking price of over $800k. There are also other properties in the area of lesser size and quality that are priced much higher than that of the "Symons' cottage". Further, ownership of the Symons' cottage also entitles the owner to a 1/35th ownership of the Association property that has an S.E.V. of $8,595,800.00, or a fair market value of $17,191,600.00."..and finally, "my clients are uncertain whether the procedure for selling members' property as stated in the association's standing rules have been followed."

In a letter dated July 17th...(remember the looming deadline)..our attorney wrote to us.."As you and I discussed on this date, Mr. Meyer told me that he was not going to change course in the procedures that he has been following because he believes that it is "too late" to do so." Apparently he went on to tell our attorney that "he would not do anything rash" in regard to the sale of the cottage. Ok.

On August 6, 2007 the plaintiff with his counsel filed a MOTION TO FACILITATE SALE AND FILING OF RECEIVER'S REPORT TO THE COURT. I told you they were in a big fat hurry.

18 comments:

Anonymous said...

This is a better thriller than the last book I read....

Anonymous said...

My real question is how in the world can all slymons family members be happy up here knowing full well what the old man has done. Can they really enjoy this place while everybody has issues with them? Did slymons lie to them about this lawsuit? Ricks wife seems normal but yet doesn't she have a clue as to what's going on? I'm stumped that slymons can lure his entire family into this crap. He must have told them something.

Anonymous said...

"Oh what a tangled web we weave when first we practice to decieve"

President Oslyma should have this on the door of his cottage......so everyone is warned of his true nature........can he really look at himself in the mirror.....but that is not a good visual!

Anonymous said...

"if there really were other interested buyers? The answer was yes. "

Really? Were these interested buyers aware of the ridiculously short deadline they had in which to submit their offers?

Anonymous said...

"We also considered the July 31, 2007 deadline as the deadline for "outside" offers."

By 'outside offers' do you mean outside of the families involved? Wouldn't a true 'outside offer" have been an offer from outside of the cloistered 3 associations?

Honestly- wouldn't the most fair and competitive offer have been achieved through proper marketing of the cottage on the open market? Wouldn't this have been a much better way to establish true market value- whatever the traffic will bear, right?

Anonymous said...

"The only offer made was by David in the amount of the opening "bid" price. "

Why didn't you bid against David when you had the chance?

Through a bidding war, you would have benefited by either outcome.

By this I mean you would have either won the cottage, or you would have forced David and his cronies to pay much more for it.

Anonymous said...

""Some have viewed the making of an offer of purchase as a waste of time in that perhaps a family member or other could meet the offer, thus negating the efforts of the person making an offer of purchase."

Absolutely true! If Slymons, or any of the other tenants-in-common, could simply up the ante by a buck or so, and have the last word at the finish line of the artificially imposed deadline- what's the point for anyone else to bid?

Little wonder you had no other bidders.

Anonymous said...

"my clients are uncertain whether the procedure for selling members' property as stated in the association's standing rules have been followed."

What exactly are the association rules regarding selling members' property? Presumably, all the tenants-in-common, as association members- knew the rules and had the opportunity to enlighten Mr. Meyer about them.

Question: If the rules are not followed, can the association effectively block a sale?

Anonymous said...

"Apparently he went on to tell our attorney that "he would not do anything rash" in regard to the sale of the cottage. Ok."

How could you trust anything not directly from the horse's mouth, or in writing?

"On August 6, 2007 the plaintiff with his counsel filed a MOTION TO FACILITATE SALE AND FILING OF RECEIVER'S REPORT TO THE COURT"

Did this take you by surprise?

Was the motion granted?? When?

Anonymous said...

"Mr. Meyer told me that he was not going to change course in the procedures that he has been following because he believes that it is 'too late" to do so.'"

Hmm. This whole "deadline" thing seems less a function of Mr. Meyer's laziness and naivete, and more a function of a certain David C. Slymons 'whispering' in his ear. How this all went down was outrageously advantageous to David Slymons.

It was all part of a strategy to 'go through the motions,' to give the impression that the 'wheels of justice' were turning. What a sham! This was all just a big set-up so the Slymons family could snag the family cottage!

Anonymous said...

"This was all just a big set-up so the Slymons family could snag the family cottage!"

You bet it was!-- for their sole and unilateral benefit. Now David Slymons doesn't give a shit about Carol's sister and his brother in-law... they were just a convenient source of financing. He'll get rid of them, too, when he has the opportunity.

Anonymous said...

Now old man Slymons, his boys, maybe even Mr. Meyers and the Judge- were probably all congratulatin' themselves... pattin' each other on the back, swillin' brewski and boastin' 'bout how smoothly it all went down.

They fully expected the Lees to just quietly disappear. They could taste and smell their victory.

Just when they thought they were in the clear, The Red Door Blog was born! And the good ole' boys have been shittin' bricks ever since!!!

Anonymous said...

"I'm stumped that slymons can lure his entire family into this crap. He must have told them something."

I'm sure they read the RDJ like everyone else in camp.

Anonymous said...

"..."there is confusion as to the low minimum offering price of $575k."

Yes, there have been many valid reasons, outlined in this blog- why the opening bid should have been higher. (Despite David's laughable attempts to whore down the price)

The fairest thing to do would have been to take an average of the comps in Cottage Grove (800K) and Pinewoods (620K) which would give you 710K. That's more like it, huh?

Anonymous said...

So was 575K the final price David was able to swindle your cottage for?

Anonymous said...

Could he really have made off with it for only 575K? What a pillage and plunder if so.

Anonymous said...

(Despite David's laughable attempts to whore down the price)

The only legitimate point Slymons brought up was the encroachment on Rob Morley's lot.

That IS a major problem, you gotta admit.

Rob, word to the wise: Make Slymons move that cottage off your lot immediately!

Anonymous said...

wasn't that the agreement?when the cottage was sold it had to be moved!. It was sold. Move it slymons