Did you get a form letter from NRMC with the following language?
Dear The Cliffs Property Owner,
I am interested in purchasing lots at The Cliffs. I am a cash buyer. If you are interested in selling your lot please contact me directly, at XXXXXXXXX.
There was more blah, blah, blah but you get the drift.
I have had multiple letters and postcards from various real estate companies in the Possum Kingdom area wanting to help sell my lot. None have panned out. Many owners were contacted by a person wanting to take advantage after the fire in order to support a lawsuit against Double Diamond. That didn’t go over well either.
This letter was different. I called and someone did get back to me in a few days with an offer. I did have to leave a message as nobody actually answered the phone. The offer was absurdly low though I understand the reason was to buy up cheap lots. I turned it down but did ask how long the offer would remain on the table. There wasn’t any pressure, just an amount, take it o leave it.
I began to think about the motive. It’s just not practical for anyone to take on the overhead with these lots, many of which you couldn’t build on if you were so inclined.
Next I thought about a Google alert I had received about Double Diamond marketing their US properties as vacation destinations in South Africa. I’ve tried to find the article again but it has so far evaded location.
The next mission was to find out what NRMC represents. It took a little digging but in an Administrative Proceeding filed in 2013, I found it. NRMC is National Resort Marketing Corporation (another complaint filed by employees at The Cliffs refers to National Resort Management Corp. so it could be either.) Double Diamond and NRMC are listed as developers in the brief. Both are Texas Corporations and at that time had the same address. The addresses are not currently the same, at least not on the marketing material. Could this have anything thing to do with dues being sent to a Houston address?
The only conclusion I can draw is that NRMC is being used to buy back lots at next to nothing so they can be resold through their sales channel. I wouldn’t have a problem with it if they were at least being fair. The offer was for less than 1/4 of what I paid for it in 1993. I probably would have taken the offer if it had been half. It wasn’t even half of the current tax assessment. My lot is actually a course lot sitting on a green so if they have it back, I’m sure they will sell it for twice what I paid in 1993.
The only thing I’ve ever wanted from this site, other than to sell my lot, is to make buyers aware of all of the pitfalls in the fine print.
If anyone else has gotten this letter or accepted an offer, I’d be interested to hear about it in the comments.