B. Everett Jordan Lake Topics: Hodja....nail on the head....

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	Name:	MrHodja -
	Subject:	Hodja....nail on the head....
	Date:	5/18/2012 8:28:24 AM (updated 5/18/2012 8:29:35 AM)

We bought about 16 years ago and the guy selling it claimed it was a deeded lot - turns out at that time it wasn't, that he just had the option to buy it and if we didn't exercise that option when we bought it would forever belong to Alabama Power (not Russell). It was a no-brainer decision.

Also the guy claimed there were no liens on the property. We had John Kelly Johnson (the APCO assigned attorney for such transfers) do a title search anyway and sure enough, there was a $25K loan sitting out there....the seller was not a happy camper when that little fact was revealed at closing and his "take" was reduced by that amount. Also found out from a neighbor that the seller had bought the rights to the property from his brother-in-law and had promised that it would never leave the family. The guy was a real piece of work....