Premier Land "Liquidators"

Premier Land "Liquidators"

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Concerned

Young Harris, GA

#1 Jun 18, 2014
I was wondering if anyone has encountered this company before which is now operating in our area. They apparently buy bankrupt properties or subdivisions and then re-sell them at "below market" prices. They just did a sale on the Hiwassee River outside of Murphy and I heard that they are buying property in Towns County. I'm concerned that this is one of those companies that "flip" properties. They create a lot of hype, send out flyers and buy radio and television ads. Then they have a one day "sales event" with a lot of high pressure. There is usually one property they advertise at way below market, but that one is always "sold" when someone inquires, and the rest are much more expensive. What happens is that people buy into a lot of promises that never materialize while the seller moves on to the next bankruptcy. Nobody wins but the seller and the bank. Often these companies will dissolve after a few years and form a new LLC, trying to stay just out of reach of all the promises they made to their buyers. I hope this is not happening in Towns County, but unfortunately in Georgia, the law is "buyer beware."
stuck here

Dawsonville, GA

#2 Jun 18, 2014
Anyone who is dumb enough (like me) to move here deserves what they get. No business, no services, no hope. At least maybe someone can make some money off of all these properties that have been sitting here molding since the crash.
Concerned

Fitzgerald, GA

#3 Jun 18, 2014
stuck here wrote:
Anyone who is dumb enough (like me) to move here deserves what they get. No business, no services, no hope. At least maybe someone can make some money off of all these properties that have been sitting here molding since the crash.
A lot of people (like me) who come here invest everything we have for the privilege of living here. We don't come here to get rich, but to live somewhere quiet and beautiful. Towns County is still quiet and beautiful, whether we have 10 kinds of fast food restaurants or 2, and there is always hope... If we can take care of our natural beauty, people will always want to come here, but if we allow developers and land flippers to have their way and if people like me spend their retirement nest egg to buy into a subdivision that is never going to be a home and will just sit there waiting for the next flip, word will get around.
sympathetic

Fitzgerald, GA

#4 Jun 18, 2014
I haven't heard anything about this particular company but that type of company is common. It's not just here but all around the country in places that have been hit by hard times. Sometimes the biggest winners are the banks, which loan, then repossess and then loan again on the same property, but we've all seen what happens when the banks lose and get stuck with too many bad loans. If your land flipper is legit, after they sell their lots they will probably setup some kind of homeowners association and then use the h.o.a. fees to pay for the promises they made to their buyers. Some people will never build when they find out how expensive it is to build in the mountains, or when they get tired of waiting for the tennis courts and swimming pools they were promised by the developer. In small counties like Towns it can hurt the tax base when the land is sold for way under what it was a few years ago, and few houses being built doesn't help that situation. I'm sorry the real estate market here has come to this.
Boots3

Morehead, KY

#5 Jun 18, 2014
If you are talking about what I think you are.Asians are buying up lots like crazy! BEWARE!! This is going on near Blairsville.
Watcher

Fitzgerald, GA

#6 Jun 18, 2014
The company's website says they are in NC. The pictures of the properties look fake, like photos you can get from the internet. It's a shame that companies have figured out how to trade land like junk bonds. It's a shame it's happening here.
Redbone

Fitzgerald, GA

#7 Jun 18, 2014
Concerned wrote:
I was wondering if anyone has encountered this company before which is now operating in our area. They apparently buy bankrupt properties or subdivisions and then re-sell them at "below market" prices. They just did a sale on the Hiwassee River outside of Murphy and I heard that they are buying property in Towns County. I'm concerned that this is one of those companies that "flip" properties. They create a lot of hype, send out flyers and buy radio and television ads. Then they have a one day "sales event" with a lot of high pressure. There is usually one property they advertise at way below market, but that one is always "sold" when someone inquires, and the rest are much more expensive. What happens is that people buy into a lot of promises that never materialize while the seller moves on to the next bankruptcy. Nobody wins but the seller and the bank. Often these companies will dissolve after a few years and form a new LLC, trying to stay just out of reach of all the promises they made to their buyers. I hope this is not happening in Towns County, but unfortunately in Georgia, the law is "buyer beware."
The best way to find out the facts is at the courthouse. Everything bought and sold has to be recorded there. The records won't tell you whether these folks are crooked or not but you can see who they are and what they paid. All that kind of information is public domain.
fed up

Perry, GA

#8 Jun 18, 2014
that's all we need is somebody else to move in and start tearing up the mountains again, but they can't be any worse than our own homegrown shysters who told us that all this house building would create jobs. well maybe it did provide a few jobs, for a while, but look at us now, bankrupt subdivisions, empty houses sitting there for years, roads you cant get a firetruck up, businesses closing. these people will come and make their money and go and it won't be any different than what we seen here before
Kroles

Young Harris, GA

#9 Jun 18, 2014
Concerned wrote:
I was wondering if anyone has encountered this company before which is now operating in our area. They apparently buy bankrupt properties or subdivisions and then re-sell them at "below market" prices. They just did a sale on the Hiwassee River outside of Murphy and I heard that they are buying property in Towns County. I'm concerned that this is one of those companies that "flip" properties. They create a lot of hype, send out flyers and buy radio and television ads. Then they have a one day "sales event" with a lot of high pressure. There is usually one property they advertise at way below market, but that one is always "sold" when someone inquires, and the rest are much more expensive. What happens is that people buy into a lot of promises that never materialize while the seller moves on to the next bankruptcy. Nobody wins but the seller and the bank. Often these companies will dissolve after a few years and form a new LLC, trying to stay just out of reach of all the promises they made to their buyers. I hope this is not happening in Towns County, but unfortunately in Georgia, the law is "buyer beware."
They don't own the properties. They're simply (state) licensed auctioneers by a different name.
old grouch

Perry, GA

#10 Jun 18, 2014
Concerned wrote:
I was wondering if anyone has encountered this company before which is now operating in our area. They apparently buy bankrupt properties or subdivisions and then re-sell them at "below market" prices. They just did a sale on the Hiwassee River outside of Murphy and I heard that they are buying property in Towns County. I'm concerned that this is one of those companies that "flip" properties. They create a lot of hype, send out flyers and buy radio and television ads. Then they have a one day "sales event" with a lot of high pressure. There is usually one property they advertise at way below market, but that one is always "sold" when someone inquires, and the rest are much more expensive. What happens is that people buy into a lot of promises that never materialize while the seller moves on to the next bankruptcy. Nobody wins but the seller and the bank. Often these companies will dissolve after a few years and form a new LLC, trying to stay just out of reach of all the promises they made to their buyers. I hope this is not happening in Towns County, but unfortunately in Georgia, the law is "buyer beware."
Check the PT-61 index at the courthouse. You'll see that they did buy some property in Towns County back in February. As for their reputation, that's a little harder to track, but you might try one of the online reputation management searches or even the better business bureau in the area where they are incorporated.
Sad but true969

Blairsville, GA

#11 Jun 27, 2014
Concerned wrote:
I was wondering if anyone has encountered this company before which is now operating in our area. They apparently buy bankrupt properties or subdivisions and then re-sell them at "below market" prices. They just did a sale on the Hiwassee River outside of Murphy and I heard that they are buying property in Towns County. I'm concerned that this is one of those companies that "flip" properties. They create a lot of hype, send out flyers and buy radio and television ads. Then they have a one day "sales event" with a lot of high pressure. There is usually one property they advertise at way below market, but that one is always "sold" when someone inquires, and the rest are much more expensive. What happens is that people buy into a lot of promises that never materialize while the seller moves on to the next bankruptcy. Nobody wins but the seller and the bank. Often these companies will dissolve after a few years and form a new LLC, trying to stay just out of reach of all the promises they made to their buyers. I hope this is not happening in Towns County, but unfortunately in Georgia, the law is "buyer beware."
I was curious when I read your post so I looked them up on the Better Business Bureau website. They have had some complaints related to "advertising," but there were no details available on the website. This kind of marketing is nothing new, but maybe it's just new to this area. Unfortunately it doesn't do anything to improve our reputation when this kind of company operates here. You are absolutely right when you say, "buyer beware."
Tim

Knoxville, TN

#12 Jul 23, 2014
There are 6 companies that work/sell in the Georgia/NC mountains. Better to have these companies breath life into these developments than have them decay. Having read the previous posts it is apparent they don't know how much the state regulates these developments from HOA, deeded covenants/restrictions, and all improvements must be completed or have them bonded. The writer Judged is correct in many statements but far from it on how the developments are sold. I'm a licensed Realtor.
Joe

Cornelius, NC

#13 Sep 22, 2014
I attended the sale. It was pretty land but by the time we arrived they only had 1 or two parcels left. I brought a local realtor who said the pricing was fair and in some instances well below market value. My sales person was very friendly and we had some good bbq. All in all a pleasant experience even though we didn't find anyting.
Georgia

Young Harris, GA

#14 Sep 23, 2014
As I was reading all these posts, I scrolled down and a huge pop-up ad flashed on my screen, as they often do, but I had to LOL, because this one was advertising a free seminar to be held in Atlanta on Sept 22 -23, with the banner 'HOW TO FLIP PROPERTIES".:)
shoop

Jefferson, GA

#15 Sep 23, 2014
Joe wrote:
I attended the sale. It was pretty land but by the time we arrived they only had 1 or two parcels left. I brought a local realtor who said the pricing was fair and in some instances well below market value. My sales person was very friendly and we had some good bbq. All in all a pleasant experience even though we didn't find anyting.
Where was the land that they were selling?
Credit master

Young Harris, GA

#16 Sep 23, 2014
Georgia wrote:
As I was reading all these posts, I scrolled down and a huge pop-up ad flashed on my screen, as they often do, but I had to LOL, because this one was advertising a free seminar to be held in Atlanta on Sept 22 -23, with the banner 'HOW TO FLIP PROPERTIES".:)
The housing market is recovering nicely in many markets, in fact most of them, but don't get your hopes up for it to rebound here anytime soon, if ever. Houses in Towns County are comparatively cheap BUT there are few local buyers who can qualify for a mortgage and "move-ins" who can afford a second home or are retired and reinvesting the proceeds from the sale of their previous home are rapidly becoming a thing of the past. And buying as an investment is out because with the low wages paid here and the increasing unemployment rate, fewer and fewer people can afford the rent needed to meet the “nut.”

There are three more depressing notes. One, the prime age group to purchase homes is diminishing and two, the cost of building materials is sky-rocketing, increasing the sale price, while wages (labor) is not, taking even more people out of the market. Lastly, houses, as a consequence of the imbalance, do not appreciate much, if at all. 2006 was the "high water mark." We have yet to see the "low."
uct

Blue Ridge, GA

#17 Sep 23, 2014
Credit master wrote:
<quoted text>
The housing market is recovering nicely in many markets, in fact most of them, but don't get your hopes up for it to rebound here anytime soon, if ever. Houses in Towns County are comparatively cheap BUT there are few local buyers who can qualify for a mortgage and "move-ins" who can afford a second home or are retired and reinvesting the proceeds from the sale of their previous home are rapidly becoming a thing of the past. And buying as an investment is out because with the low wages paid here and the increasing unemployment rate, fewer and fewer people can afford the rent needed to meet the “nut.”
There are three more depressing notes. One, the prime age group to purchase homes is diminishing and two, the cost of building materials is sky-rocketing, increasing the sale price, while wages (labor) is not, taking even more people out of the market. Lastly, houses, as a consequence of the imbalance, do not appreciate much, if at all. 2006 was the "high water mark." We have yet to see the "low."
I was told they are a shell company for a big local bank
Ashley

Norcross, GA

#18 Nov 18, 2016
Boots3 wrote:
If you are talking about what I think you are.Asians are buying up lots like crazy! BEWARE!! This is going on near Blairsville.
The company everyone is referring to is what the company described themselves as--they sell the land at below market prices and yes there are usually about 5 lots are are extremely below the price it should be--those lots are first come first serve and if you get to the sale early it is possible for you to acquire one. Those lots typically sell within the first 15 minutes of the sale--you have to get there early! Also, it is not high pressure because the land WILL sell whether you decide to buy or somebody else does. You are not pressured to do anything but you will be told that more than likely the land will not be on the market for long (which is the truth--it won't) I have seen multiple subdivisions developed where their lots are sold, and if you can only afford the land and can't affor to build on it--don't buy it! I feel that is common sense. The people who sold you the land are not going to build the house for you! As a buyer, you are taking part in the development of your community. Typically the roads are already paved, there is above or below ground electricity, a clubhouse with amenities, and septic. The rest is in the hands of the buyers.
Pompano Jane

United States

#19 Aug 23, 2017
This company purchased bankrupt property on Lake Lanier in Gainesville Ga and had a "fire sale" like everyone is discribing. This was a small no frills community with no expectations of it being anything else. Sale was in June 2016. We paid HOA fees for 2016 ($500 per year) up front in addition to $500 in community development acceleration fees AND paid again HOA fees in Dec of $500 for 2017. We were told that all HOA fees would be put in an escrow account to be turned over to the HOA when all paperwork was final. 70 lots at $500 per lot should have started our HOA with a balance of $35,000. Well, that didn't happen. They took ALL the money to pay off the previous bills on the community. We started this year with about $3500 which does not cover street lighting for the year or lawn maintenance of common areas and right of ways. This company is a piece of crap!!!
The WindBag

Dahlonega, GA

#20 Aug 23, 2017
stuck here wrote:
Anyone who is dumb enough (like me) to move here deserves what they get. No business, no services, no hope. At least maybe someone can make some money off of all these properties that have been sitting here molding since the crash.
Delta is ready when you are.

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