Preview:
Negotiations between the land owner and homeowners continue for the sale of the Pines Trailer Park in Bradenton Beach.
Bill Gorman, president at Lifestyle Choice Realty Inc. of Casselberry, representing the homeowner’s association, confirmed March 30, that negotiations are ongoing but declined to disclose other details related to the potential sale of the park at 103 Church Ave.
The Pines’ HOA retained Gorman to represent the homeowners’ interests in the sale of the park land, a process that got underway in late January.
The owners, Jackson Partnership of Bradenton, with Richard and William Jackson as its officers, listed the park for...
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The residents of this park hope to buy it for $16.25 million and are trying to raise the money for the downpayment. So they set up a GoFundMe account and “as of April 3, the campaign had raised $500 of its $1 million goal with 14 donors”. I think it’s pretty clear this is another “first option” failure, and states that require a tenant “first option to purchase” requirement are doing nothing but giving people false hope and slowing down the rights of park owners to sell on the open market at the best price they can obtain.
If the residents did buy it – which is clearly not going to happen – how would they possibly afford to pay the regular cap-x issues that pop up? Another GoFundMe pitch?
Contrary to what woke journalists and advocates care to accept, owning real estate is capital intensive and you simply can’t participate if you are underfunded like this.