College refuses to call off sale

Apr 26, 2010 | Posted by: roboblogger | Full story: Watertown Daily Times

The sale of Houghton College's Star Lake campus to a Clifton-Fine Hospital doctor might be headed to court over a contractual dispute.

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Mrparty

Lancaster, NY

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#1
May 7, 2010
 
My wife and I ran into the same problems in 2000 when we were interested in purchasing it from Potsdam. We also ran into the problem of having to pay back taxes due to the fact it had been owned by a not for profit entity. at the time it needed extensive remodeling.$400,000 seemed like a steal at the time but luckily we found out about these things a day before putting a deposit down and making an offer, and we literally found out by accident. it would have wound up costing us over 1.5Mil before any renovations.
I say give the doctor his deposit back then make full disclosure on the property public. Houghton is a christian school right? Where's the honesty?

Since: Aug 08

Ballston Spa, NY

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#2
Dec 4, 2012
 
Mrparty-You think Houghton is a "Christian" school? It a lunatic asylum for posers with guilt trips.

If there really was such a thing as the rapture, the faculty, staff, and student body of Houghton will still be here the day after.
Boba Fett

United States

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#3
Feb 25, 2014
 
Jango,

You're too right on your assessment of Houghton. They are the most dilusioned, dishonest, and deceptive school on the planet. They literally represent everything that is wrong with religious institutions. The college, town and community is doomed.
billybob

Rome, NY

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#4
Mar 13, 2014
 
Come on kids...The Dr let his due diligence period expire and he dropped the ball. He will and should be sued for non performance.

How anyone would put in an offer without an inspection period is beyond me. During that period your deposit is fully refundable. And there are no back taxes owed by a non profit that a subsequent owner would have to pay.

I cannot speak to the Houghton debate but as far as the real estate deal I love it when Dr's try their hands at Real Estate development....absolute train wrecks almost every time

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