Troubled Mira Villa Condos In Summerlin Expect To Start Sales In June

Pesaro HomesTroubled Mira Villa condos in Summerlin expect to start sales in June.  Three banking institutions have given commitment to complete condominium construction.

Real estate lenders will financially back the project after careful analysis because of it’s offering in the current local real estate landscape.  Prior luxury condo purchasers will have the ability to renew their contracts before the sale of Mira Villa will be open to the general public.

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Condos In Summerlin Real Estate Ok'd By Bankruptcy Judge To Complete

Pesaro HomesCondos in Summerlin real estate approved by bankruptcy judge to complete construction.  The news this week about the Mira Villa luxury condos comes to buyers as a relief after they have been in limbo for nine months since the luxury project stopped.

The new general contractor is Isaac Construction and is under the deadline of January 6, 2008 before the building permits expire.  They will need to be onsite for many inspections.

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Las Vegas Condo Buyers May See Deposits Returned After Court Approval

Pesaro HomesLas Vegas condo buyers may see deposits returned after court approval.  The bankrupt Mira Villa condos in Summerlin are close to several motions for the bankruptcy trustee to approve postbankruptcy financing of $38 million in several weeks.

The luxury Summerlin condominiums stopped construction earlier this year.  Last month the court held a hearing for purchase agreement cancellations.  If creditors don’t object to the refunds, buyers could see deposits returned from escrow.  Nearly 50 buyers have asked for their contract cancellation.

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Mira Villa Las Vegas Condominiums Bankruptcy Saga Continues In Court

Mira Villa CondosMira Villa Las Vegas condominiums bankruptcy saga continues in court. Two motions were filed including a bond to pay for construction completion.

The Mira Villa condo appointed trustee has filed the motions to ultimately sell the development in Summerlin real estate near the luxury One Queensridge Place.

One motion is allow the sale of the completed mid rise condos to pay off the loan allow the sale of homes to the existing buyers. The second is a motion for a $46 million bond to finish the phase of construction, market and pay the mortgage interest of the existing loan.

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