By Bobby Ferguson of North East Randolph Property Owners
Greetings:
I would guess that you are aware that Piedmont Triad Partnership/Greensboro is officially ‘making another run’ at trying to buy our property. Attached is the article that was in Monday’s Greensboro News & Record newspaper. It is interesting that Mr. Sam Simpson noted that “it’s time to open up the process and let the landowners decide on their own with clear, no-pressure offers to sign purchase options”. I would question whether one could believe the complete honesty of this when the same PTP group is the one that pursued our property some 2 years ago with a clear message of little to no transparency—this carries the tone of telling one what he wants to hear in order to get him to give you what you want. As we have shared numerous times before Mr. Simpson (and others like him) are very smooth professionals who can and will convince you they are helping you; however, each of us needs to be aware and to have our own legal representation when and if we interact with Mr. Simpson (and others).
Also, attached are some consideration points that may be helpful when and if you choose to interact with these folks pursuing our properties. The intent of these notes is to help you be aware of pitfalls that you may be subjected to. As to the value of your property, as Alan has said before, it is worth what it means to you! A local reference point is the fact that the Chatham/Randolph site is advertised for $40K per acre, and it is only some 12 miles away (clearly comparable property pricing for a megasite). Included on our website are megasite properties which have, over the past 20 years, sold for in excess of $50K per acre in today’s dollars. This certainly raises the question as to why one would want to sell their property to a group of investors (via PTP via Mr. Sam Simpson) for 2 ½ times tax value ($10K--$12k/acre) when the investors believe that they can in turn sell for $40K or more per acre for a megasite. It is my opinion that these folks who are trying to obtain our property are simply betting that they can buy our property for “pennies on the dollar” and in turn make a huge profit—there is something not quite ethical about this whole process. The most important fact is that each of us has the wherewithal to control how we are treated, and that is why it is extremely important that we each get appropriate help in protecting our property interests!
These tips/considerations have been shared before; thus this email is intended as a helpful reminder.
Attachments:
Land Thoughts And Considerations
Land Property Tips
