Condemnation hearing on Lamar O'Sullivan property set for Sept. 2
#1 Aug 14, 2009
I strongly suggest that Lamar city officials do a background information search on the development corporation. I can't find any tax records or name of the firm in the Dallas Texas area, and based on the lack of due diligence that was done on the last deal, I fear that once again Lamar is being taken for a ride.
Why has so little come out about the development firm? Why have has this community become a hot spot for Dallas developers to get into, and I bet with some "stimulus" funds from some governmental entity.
Seller beware - just be sure and get the money up front this time. I know that Lamar still hasn't collected on the money promised from the last deal, and one has to remember that any Texas business doesn't have to have a license. Getting a LLC is very, very easy in Texas and many firms use it to protect the principals involved in case of damaging claims.
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