The re-awakening real estate market: Watch out for zombies!
Editor’s Note: William F. Wolcott, III is a member of the Real Estate, Business, Creditors’ Rights, Financial Institutions, and Financial Transactions and Regulation Practice Groups at Ward and Smith, P.A. Background The aftermath of the “Great Recession” has left the North Carolina countryside strewn with half-finished single-family home subdivisions, condominium and townhouse communities, and commercial developments that are striving to emerge from the legal and financial problems left behind by often well-meaning developers who simply ran out of capital. In the waning days of several projects, developers took hasty and ill-advised steps to rush communities to market before the...
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