Preview
Wednesday, March 25, 2020 at 10:27:28 PM Mountain Daylight Time
Subject: County Road 8 couple items
EXHIBIT
Date: Thursday, March 5, 2020 at 7:47:17 AM Mountain Standard Time
From: Lisa Leclair Waldorf 72
DATE FILED: July 5, 2 T6t PM
To: Kristen L Meyer
FILING ID: D2F2COBF72C48
CASE NUMBER: 2020CV 30025
Hi again,
So on CR 8, I'm assuming we're aok on appraisal? Let me know if not.
| have had so many calls with the Seller (and many emails but many more more calls) and they are
telling me that they never planned to move the Easter weekend rental. So here are a few options:'
1) We close and buyer accepts Easter Weekend rental (I think there is income in the 500 range net to
Buyer for two nights...trying to verify). Turn Key manages. They would love to chat with the buyer (as
I'm sure you can imagine).
2) We push closing to just after Easter.
3) | deal with the silly relocation of these people for another few hundred bucks.
I'm ok with any of these just looking to get a resolution and move on with the Seller
4) | don't believe the buyers signed the amend extend you sent over a week or so ago or maybe | don't
have a copy.
Thanks and let me know!
Lisa
oLta deelecte Waldorf
Broker/Owner
—
~~
a 970.531.1608 cell/text
i isa@rewinterpark.com
Office: 970.726.2600
Fax: 970.726.2616
PO Box 58
78622 US Highway 40
Winter Park, CO 80482-1641
REAL ESTATE Rea
OF WINTER PARK
LOCALLY OWNED, LOCALLY INVESTED.
KM00173
Page 1 of 1
Wednesday, April 8, 2020 at 7:49:13 PM Mountain Daylight Time
Subject: 1361 GCR 8
Date: Monday, March 23, 2020 at 2:14:32 PM Mountain Daylight Time
From: Kristen L Meyer
To: lisa@rewinterpark.com, Kristen L Meyer, Tim Brown
Attachments: image001.gif, image002.jpg
Can you please have the seller sign these asap. Land Title needs it for closing. | did not realize we never
wrapped up the personal property agreement. Also for the $1500 from you to the seller. | am going to
have to ask the lender about this. I'll see if they will allow a closing cost credit from you to them.
Thanks!
CLOSING INSTRUCTIONS Pb eve Print (only)
CTM Web Signature Ready
PERSONAL PROPERTY AGREEMENT (RESIDENTIAL ONLY) [bee print (only)
CTM Web Signature Ready
Krista
Kristen L Meyer. Broker
970. 2335
Kriste: O! KristrenLMeyer.com
1Kristenl M le yercam
76 1US HWY 40 POB 1632
Winter Park, CO 604652
LAS
Kristen L Meyer
iimnbaDte wipeliancn
RE/MAX
PEAK TO PEAK
KM00174
Page 1 of 1
Wednesday, March 25, 2020 at 10:37:22 PM Mountain Daylight Time
Subject: Feigelson real estate transaction
Date: Monday, March 23, 2020 at 4:32:13 PM Mountain Daylight Time
From: Bruce Feigelson
To: Kristen L Meyer
Hi Kristen,
Unfortunately, with the ongoing and worsening events going on, unless we have a buyer for the condo, it is fiscally
problematic for us to proceed with the purchase of 1361 GCR 8.
We do not want to carry 3 mortgages, do not have confidence that the rental market will be favorable in the near
future, and without the proceeds from the sale of the condo, we will not have the capital to make the needed
improvements to the property.
We will revisit all of this once the Covid 19 crisis resolves.
Please contact me if you have any questions and to confirm that | successfully conveyed our decision.
Thank you for all you have done. And hopefully, we can either resurrect this transaction at a later date or resume our
search for a home in the near future.
We cannot thank you enough for all you have done for us.
Bruce and Heather
KM00175
Page 1 of 1
Wednesday, March 25, 2020 at 10:39:51 PM Mountain Daylight Time
Subject: 1361 GCR 8
Date: Tuesday, March 24, 2020 at 9:14:29 AM Mountain Daylight Time
From: Kristen L Meyer
To: lisa@rewinterpark.com, Kristen L Meyer
Attachments: image001.gif, image002.jpg
Lisa,
Unfortunately | have bad news. The Buyers of 1361 GCR 8 are terminating based on Section 10.7 as
their Spruce Ridge Townhome is not going to close on or before 3-27. Those Buyers terminated on 3-19
and we had made an offer to them to see if we could keep them in the deal but since we have not
heard back and have not been able to keep that deal alive and the sellers have not secured another way
to make it happen they have to terminate. They thought they had another option to secure the down
payment but that has fallen through.
EARNEST MONEY RELEASE [29 por print (only)
CTM Web Signature Ready
NOTICE TO TERMINATE [2fepe Print (only)
CTM Web Signature Ready
lam so so so sorry. We have all lost many deals through this unprecedented time and it is incredibly
tough | know. Both Heather and Bruce are doctors and are on the front lines right now of what is
happening. They are working incredibly hard in a way few of us can truly understand yet still have been
fighting for this deal as well. They love the home and would love to make this happen. | have included
the termination and earnest money release above but we do have two other ideas —
1. Extend - The Buyers are very open to an extension to give them time to get their Spruce Ridge
Townhome sold if your Sellers want to do that but | think we would need a 60 day extension to
realistically even try to get something done. We could always extend in increments if that helps.
Trade Deal — Back in 2012 | had a larger $1M+ home in Rendezvous that had been on and off the
market for three years. At the same time | had a client who owned a smaller more saleable cabin
in Rendezvous. That client wanted to upgrade and liked the larger Rendezvous home so we made
an offer to the owner of the larger home which included a trade deal. At first glance my seller of
the larger home was not sure but after stepping back and thinking about it they realized it was
actually a great way to downsize, payoff some debt and after the deal was done end up with a
property that would be easier to sell. We closed the deal and they had the smaller property sold
and closed in 6 months. In that case they downsized into a property that was not even as unique
as the property the Feigelsons own. The Feiglesons truly want to make this happen and so if your
Sellers would like to reduce their debt and downsize and get into a property that will be easier to
sell in any market than this could work for everyone. My buyers are the perfect fit for 1361, they
see it as a great home with potential but it truly needs a lot of TLC, some capital improvements
and updating. They are willing to do that while other buyers, including some of my own, have felt
it needs too much work for the price and they just are not willing to take those projects on. On
the flip side the Spruce Ridge Townhome is a 4 bedroom under $700,000 which is really hard to
find. | put it on the market on 1-25 and had a full price offer on the same day from a buyer who
KM00176
Page 1 of 2
got to see it right before it officially went on the market. That buyer has said they really love the
property and want to make it work but they are in the oil and gas business and they took an
enormous unexpected hit late last week. They have stated that they have to let this all settle
down before they can circle back to a second home purchase. The reality is that as this market
eventually settles down, lower priced/unique/turnkey/3-4 bedroom properties are going to be
easier to sell. Their Spruce Ridge unit falls in this category. We were under contract for $679,900
with the main furniture included. Here is the linkto the MLS with pictures.
https://www.flexmls.com/link.html?1isgy8ithr2h,2,1
What the Banburys would accomplish by moving forward with this idea is liquidating a harder to
sell asset, reducing their debt in half (approx.) and ending up with an easierto sell lower priced
asset. None of us know what is ahead in the real estate market or short term rental market but
we all know that it is going to take this market some time to recover. When we do turn the
corner our $1M - $1.2M buyers are instead likely going to spend less and so we truly feel that
the Spruce Ridge Townhome will be easier to resell than 1361. We also do feel that there will be
more inventory of $1M - $1.2M properties on the market come summer.
We know this is not the ideal scenario but it is a really good option. Many sellers right now are
simply losing their sale altogether.
Please let me know if your Sellers are interested in either of the two options above and we can talk
details. The trade option would entail the Feigelsons talking to their lender to find out what jumbo
loans are available now as their lock expires on 3-31 and jumbo loans have changed. We would just
have to work through all of those details if it were a viable option for the Banburys.
Very sincerely,
Keister
Kriske Meyer, Broker
970 1.2335
Kristen@kristenLMeyer.com
www KristenLMeyer.com
7849] US HWY 40 POB 1632
Winter Park, CO 60462
LA
Kristen L. Meyer
reed axle excellence
PEAR TO PEAR
KM00177
Page 2 of 2
Wednesday, March 25, 2020 at 10:42:27 PM Mountain Daylight Time
Subject: Re: 1361 GCR 8
Date: Tuesday, March 24, 2020 at 1:36:57 PM Mountain Daylight Time
From: Lisa Leclair Waldorf
To: Kristen L Meyer
Attachments: image001.gif, image002.jpg
Couple questions before we chat...
1) What were the Buyers planning to put down on the home or perhaps easier...what was their
intended loan amount?
2) | forget if | had a second question...Im sure | did but my mind is spinning
The Sellers are up here today with a moving truck and are upset since we passed all deadlines and
wished we talked about this last week prior to the 20th. They canceled a bunch of services today
(Comcast) and moved up "moving". They would like to close asap and I'm trying to keep them focused
on that. They can't do a trade at this point but am encouraging an extension. Given that they are
working with an investment bank and are doctors...| would think we could piece this together in 30
days?
My folks are also emotional b/c their girls are sad they are selling. I'm waiting for Richard to return
from lunch and get me a prelim settlement statement. Maybe a partial owner carry?
L
From: Kristen L Meyer
Sent: Tuesday, March 24, 2020 9:14 AM
To: Lisa Leclair Waldorf ; Kristen L Meyer
Subject: 1361 GCR 8
Lisa,
Unfortunately | have bad news. The Buyers of 1361 GCR 8 are terminating based on Section 10.7 as
their Spruce Ridge Townhome is not going to close on or before 3-27. Those Buyers terminated on 3-19
and we had made an offer to them to see if we could keep them in the deal but since we have not
heard back and have not been able to keep that deal alive and the sellers have not secured another way
to make it happen they have to terminate. They thought they had another option to secure the down
payment but that has fallen through.
EARNEST MONEY RELEASE [Apo print (only)
CTM Web Signature Ready
NOTICE TO TERMINATE [eve print (only)
CTM Web Signature Ready
lam so so so sorry. We have all lost many deals through this unprecedented time and it is incredibly
tough | know. Both Heather and Bruce are doctors and are on the front lines right now of what is
happening. They are working incredibly hard in a way few of us can truly understand yet still have been
Page 1 of 3
fighting for this deal as well. They love the home and would love to make this happen. | have included
the termination and earnest money release above but we do have two other ideas —
1. Extend - The Buyers are very open to an extension to give them time to get their Spruce Ridge
Townhome sold if your Sellers want to do that but | think we would need a 60 day extension to
realistically even try to get something done. We could always extend in increments if that helps.
Trade Deal — Back in 2012 | had a larger $1M+ home in Rendezvous that had been on and off the
market for three years. At the same time | had a client who owned a smaller more saleable cabin
in Rendezvous. That client wanted to upgrade and liked the larger Rendezvous home so we made
an offerto the owner of the larger home which included a trade deal. At first glance my seller of
the larger home was not sure but after stepping back and thinking about it they realized it was
actually a great way to downsize, payoff some debt and after the deal was done end up with a
property that would be easier to sell. We closed the deal and they had the smaller property sold
and closed in 6 months. In that case they downsized into a property that was not even as unique
as the property the Feigelsons own. The Feiglesons truly want to make this happen and so if your
Sellers would like to reduce their debt and downsize and get into a property that will be easier to
sell in any market than this could work for everyone. My buyers are the perfect fit for 1361, they
see it as a great home with potential but it truly needs a lot of TLC, some capital improvements
and updating. They are willing to do that while other buyers, including some of my own, have felt
it needs too much work for the price and they just are not willing to take those projects on. On
the flip side the Spruce Ridge Townhome is a 4 bedroom under $700,000 which is really hard to
find. | put it on the market on 1-25 and had a full price offer on the same day from a buyer who
got to see it right before it officially went on the market. That buyer has said they really love the
property and want to make it work but they are in the oil and gas business and they took an
enormous unexpected hit late last week. They have stated that they have to let this all settle
down before they can circle back to a second home purchase. The reality is that as this market
eventually settles down, lower priced/unique/turnkey/3-4 bedroom properties are going to be
easier to sell. Their Spruce Ridge unit falls in this category. We were under contract for $679,900
with the main furniture included. Here is the link to the MLS with pictures
https://www.flexmls.com/link.html?lisgy8ithr2h,2,1
What the Banburys would accomplish by moving forward with this idea is liquidating a harder to
sell asset, reducing their debt in half (approx.) and ending up with an easier to sell lower priced
asset. None of us know what is ahead in the real estate market or short term rental market but
we all know that it is going to take this market some time to recover. When we do turn the
corner our $1M - $1.2M buyers are instead likely going to spend less and so we truly feel that
the Spruce Ridge Townhome will be easier to resell than 1361. We also do feel that there will be
more inventory of $1M - $1.2M properties on the market come summer.
We know this is not the ideal scenario but it is a really good option. Many sellers right now are
simply losing their sale altogether.
Please let me know if your Sellers are interested in either of the two options above and we can talk
details. The trade option would entail the Feigelsons talking to their lender to find out what jumbo
loans are available now as their lock expires on 3-31 and jumbo loans have changed. We would just
have to work through all of those details if it were a viable option for the Banburys.
KM00179
Page 2 of 3
Very sincerely,
Kerisler
Krisher Meyer, Broker
970 1.2335
Kristen@KristenLMieyer. com
www KristenLMeyer.com
>)
7849] US HWY 40 POB 1632
Winter Park, CO 60482
LA
a
a
Kristen L Meyer
real ectsle arcellence
RiTEAK 10 PARX
KM00180
Page 3 of 3
Wednesday, March 25, 2020 at 10:43:14 PM Mountain Daylight Time
Subject: Re: 1361 GCR 8
Date: Tuesday, March 24, 2020 at 1:53:53 PM Mountain Daylight Time
From: Kristen L Meyer
To: Lisa Leclair Waldorf, Kristen L Meyer
Attachments: image001.jpg, image002.gif, image003.jpg
| forwarded the questions. They can extend but any extension has to be contingent on closing Spruce
Ridge somehow. | just confirmed the owner carry option does not work. Things have just gotten too
precarious day after day. They need to sell Spruce Ridge. They just got word that their daughter is likely
also going to lose her job and will have to rely on them for support. They are good moving forward but
only as long as Spruce Ridge is sold. | was hoping owning something smaller might be good for your
sellers as they could have a place to enjoy until it sells but | realize that was a long shot.
Krister
Mele yer Broke
335
enokris! LMeyer.com
ww Kris NV or
a
76 Y 40PC 932
Wint er Park, CO 8(
LA
Kristen L Meyer
atte cirntenes
S
PEAK TO PEAK
From: "lisa@rewinterpark.com"
Date: Tuesday, March 24, 2020 at 1:37 PM
To: kristen meyer
Subject: Re: 1361 GCR 8
Couple questions before we chat...
1) What were the Buyers planning to put down on the home or perhaps easier...what was their
intended loan amount?
2) | forget if | had a second question...Im sure | did but my mind is spinning
The Sellers are up here today with a moving truck and are upset since we passed all deadlines and
wished we talked about this last week prior to the 20th. They canceled a bunch of services today
(Comcast) and moved up "moving". They would like to close asap and I'm trying to keep them focused
on that. They can't do a trade at this point but am encouraging an extension. Given that they are
working with an investment bank and are doctors...| would think we could piece this together in 30
days?
KMO00181
Page 1 of 3
My folks are also emotional b/c their girls are sad they are selling. I'm waiting for Richard to return
from lunch and get me a prelim settlement statement. Maybe a partial owner carry?
From: Kristen L Meyer
Sent: Tuesday, March 24, 2020 9:14 AM
To: Lisa Leclair Waldorf ; Kristen L Meyer
Subject: 1361 GCR 8
Lisa,
Unfortunately | have bad news. The Buyers of 1361 GCR 8 are terminating based on Section 10.7 as
their Spruce Ridge Townhome is not going to close on or before 3-27. Those Buyers terminated on 3-19
and we had made an offer to them to see if we could keep them in the deal but since we have not
heard back and have not been able to keep that deal alive and the sellers have not secured another way
to make it happen they have to terminate. They thought they had another option to secure the down
payment but that has fallen through.
EARNEST MONEY RELEASE A PDF Print (only)
CTM Web Signature Ready
OTICE TO TERMINATE PDF Print (only)
CTM Web Signature Ready
lam so so so sorry. We have all lost many deals through this unprecedented time and it is incredibly
tough | know. Both Heather and Bruce are doctors and are on the front lines right now of what is
happening. They are working incredibly hard in a way few of us can truly understand yet still have been
fighting for this deal as well. They love the home and would love to make this happen. | have included
the termination and earnest money release above but we do have two other ideas —
1. Extend - The Buyers are very open to an extension to give them time to get their Spruce Ridge
Townhome sold if your Sellers want to do that but | think we would need a 60 day extension to
realistically even try to get something done. We could always extend in increments if that helps.
Trade Deal — Back in 2012 | had a larger $1M+ home in Rendezvous that had been on and off the
market for three years. At the same time | had a client who owned a smaller more saleable cabin
in Rendezvous. That client wanted to upgrade and liked the larger Rendezvous home so we made
an offerto the owner of the larger home which included a trade deal. At first glance my seller of
KM00182
Page 2 of 3
the larger home was not sure but after stepping back and thinking about it they realized it was
actually a great way to downsize, payoff some debt and after the deal was done end up with a
property that would be easier to sell. We closed the deal and they had the smaller property sold
and closed in 6 months. In that case they downsized into a property that was not even as unique
as the property the Feigelsons own. The Feiglesons truly want to make this happen and so if your
Sellers would like to reduce their debt and downsize and get into a property that will be easier to
sell in any market than this could work for everyone. My buyers are the perfect fit for 1361, they
see it as a great home with potential but it truly needs a lot of TLC, some capital improvements
and updating. They are willing to do that while other buyers, including some of my own, have felt
it needs too much work for the price and they just are not willing to take those projects on. On
the flip side the Spruce Ridge Townhome is a 4 bedroom under $700,000 which is really hard to
find. | put it on the market on 1-25 and had a full price offer on the same day from a buyer who
got to see it right before it officially went on the market. That buyer has said they really love the
property and want to make it work but they are in the oil and gas business and they took an
enormous unexpected hit late last week. They have stated that they have to let this all settle
down before they can circle back to a second home purchase. The reality is that as this market
eventually settles down, lower priced/unique/turnkey/3-4 bedroom properties are going to be
easier to sell. Their Spruce Ridge unit falls in this category. We were under contract for $679,900
with the main furniture included. Here is the link to the MLS with pictures.
https://www.flexmls.com/link.html?lisgy8ithr2h,2,1
nt ps://www.tlexmis.com/link.ntml: lisgysithr2h,2,1
What the Banburys would accomplish by moving forward with this idea is liquidating a harder to
sell asset, reducing their debt in half (approx.) and ending up with an easier to sell lower priced
asset. None of us know what is ahead in the real estate market or short term rental market but
we all know that it is going to take this market some time to recover. When we do turn the
corner our $1M - $1.2M buyers are instead likely going to spend less and so we truly feel that
the Spruce Ridge Townhome will be easier to resell than 1361. We also do feel that there will be
more inventory of $1M - $1.2M properties on the market come summer.
We know this is not the ideal scenario but it is a really good option. Many sellers right now are
simply losing their sale altogether.
Please let me know if your Sellers are interested in either of the two options above and we can talk
details. The trade option would entail the Feigelsons talking to their lender to find out what jumbo
loans are available now as their lock expires on 3-31 and jumbo loans have changed. We would just
have to work through all of those details if it were a viable option for the Banburys.
Very sincerely,
KM00183
Page 3 of 3
Keislen
Kristen L Meyer, Broker
970.531.233
Kristen@kristenLMeyer,com
www KristenLMeyer.com
7849] US HWY 40 POB 1632
Winter Park, CO 60462
LA
Kristen L Meyer
real elit oallnee
RE/MAX
PEAR TO PEAR
KM00184
Page 4 of 3
Wednesday, March 25, 2020 at 10:45:44 PM Mountain Daylight Time
Subject: Fw: 1361
Date: Tuesday, March 24, 2020 at 7:13:32 PM Mountain Daylight Time
From: Lisa Leclair Waldorf
To: Kristen L Meyer
Attachments: 1361 Letter 3-24-20.pdf
Ive had many conversations with the Sellers today along with everyone else as I'm sure you have too.
| do feel, as | do with many clients, that time and space help which is why | didn't call you earlier. It
would have been unproductive. | think this is a big step for my clients and they have had some
emotional remorse and feel that we've come so far with our agreements that it would be in poor faith
to throw in the towel now.
We can chat tomorrow.
From: Bowen Banbury - TAB
Sent: Tuesday, March 24, 2020 6:38 PM
To: Lisa Leclair Waldorf
Subject: 1361
Please forward this letter to Kristen or call to discuss.
All the best,
Bowen Banbury
Owner and Facilitator
TAB Denver East
Phone: (303) 335-0699 | (720) 767-8000
www.TABDenverEast.com
A
THE ALTERNATIVE BOARD
Shared Wisdom, Bottom Line Success
8Ous0
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KM00185
Page 1 of 2
KM00186
Page 2 of 2
Wednesday, March 25, 2020 at 10:49:30 PM Mountain Daylight Time
Subject: 1361 GCR 8
Date: Tuesday, March 24, 2020 at 10:59:05 PM Mountain Daylight Time
From: Kristen L Meyer
To: lisa@rewinterpark.com
Attachments: Unsigned 2-12-2020 AGREEMENT TO AMEND-EXTEND CONTRACT. pdf, 2020-1-25 contract
fs.pdf, Unsigned revised PERSONAL PROPERTY AGREEMENT.
pdf, image001.jpg
My buyers have requested that | make sure and forward a copy of the contract that says in Section 10.7
that they have until 3-27 to terminate based on the Conditional Sale Deadline as well as a copy of the
unsigned amend extend and a copy of the unsigned personal property agreement. They truly feel they
have the right to have their earnest money returned and wanted to make sure everyone had copies of
all the documents. They have forwarded the documents to their attorney and they will respond to your
sellers in the morning as it is getting late.
Keister
Kris N Vi >yer, Broker
970 12 35
Kr en@okris Lr leyer corm
www KristenLV com
S
7849] US HWY 40 PC 1632
Winter F 2ark, CO 60 52
LA
Kristen L Meyer
ik
ry real ecthtls eenliney
y RE/MAX
PEAK TO PEAK
KM00187
Page 1 of 1
Wednesday, April 8, 2020 at 7:53:22 PM Mountain Daylight Time
Subject: Re: New Email to Sellers Agent
Date: Tuesday, March 24, 2020 at 8:07:55 AM Mountain Daylight Time
From: Bruce Feigelson
To: Kristen L Meyer
cc: Heather Feigelson
Done
On Tue, Mar 24, 2020 at 8:04 AM Kristen L Meyer wrote:
Got it. | Il adjust the wording a little. Go ahead and sign those two docs. | think it is best to get that done. Thanks.
Kristen L Meyer
RE/MAX Peak to Peak
970-531-2335
Sent from my iPhone
On Mar 24, 2020, at 6:06 AM, Bruce Feigelson wrote:
Thanks Kristen. This looks good. | think it’s important for them to understand the third option is to
terminate. It is clearly stated in the first few sentences, but wonder if it needs to restated at the end.
Please send the letter on and remind us of you want us to sign the docs or hold off for now.
On Tue, Mar 24, 2020 at 12:26 AM Kristen L Meyer wrote:
See what you think —| realized | probably needed to clarify a few things in regards to the loan issues
surrounding the trade option so read this one -
Lisa,
Unfortunately | have bad news. The Buyers of 1361 GCR 8 are terminating based on Section 10.7 as
their Spruce Ridge Townhome is not going to close on or before 3-27. Those Buyers terminated on
3-19 and we had made an offer to them to see if we could keep them in the deal but since we have
not heard back and have not been able to keep that deal alive and the sellers have not secured
another way to make it happen they have to terminate. They thought they had another option to
secure the down payment but that has fallen through
lam so so so sorry. We have all lost many deals through this unprecedented time and it is incredibly
tough | know. Both Heather and Bruce are doctors and are on the front lines right now of what is
happening. They are working incredibly hard in a way few of us can truly understand yet still have
been fighting for this deal as well. They love the home and would love to make this happen. We do
have two ideas —
KM00188
Page 1 of 3
1. Extend - The Buyers are very open to an extension to give them time to get their Spruce
Ridge Townhome sold if your Sellers want to do that but | think we would need a 60 day
extension to realistically even try to get something done. We could always extend in
increments if that helps.
Trade Deal — Back in 2012 | had a larger $1M+ home in Rendezvous that had been on and off
the market for three years. At the same time | had a client who owned a smaller more
saleable cabin in Rendezvous. That client wanted to upgrade and liked the larger Rendezvous
home so we made an offer to the owner of the larger home which included a trade deal. At
first glance my seller of the larger home was not sure but after stepping back and thinking
about it they realized it was actually a great way to downsize, payoff some debt and after the
deal was done end up with a property that would be easier to sell. We closed the deal and
they had the smaller property sold and closed in 6 months. In that case they downsized into
a property that was not even as unique as the property the Feigelsons own. The Feiglesons
truly want to make this happen and so if your Sellers would like to reduce their debt and
downsize and get into a property that will be easierto sell in any market than this could work
for everyone. My buyers are the perfect fit for 1361, they see it as a great home with
potential but it truly needs a lot of TLC, some capital improvements and updating. They are
willing to do that while other buyers, including some of my own, have felt it needs too much
work for the price and they just are not willing to take those projects on. On the flip side the
Spruce Ridge Townhome is a 4 bedroom under $700,000 which is really hard to find. | put it
on the market on 1-25 and had a full price offer on the same day from a buyer who got to
see it right before it officially went on the market. That buyer has said they really love the
property and want to make it work but they are in the oil and gas business and they took an
enormous unexpected hit late last week. They have stated that they have to let this all settle
down before they can circle back to a second home purchase. The reality is that as this
market eventually settles down, lower priced/unique/turnkey/3-4 bedroom properties are
going to be easier to sell. Their Spruce Ridge unit falls in this category. We were under
contract for $679,900 with the main furniture included. Here is the link to the MLS with
pictures.
https://www.flexmls.com/link.html? 1isgy8ithr2h,2,1,
What the Banburys would accomplish by moving forward with this idea is liquidating a
harder to sell asset, reducing their debt in half (approx.) and ending up with an easier to
sell lower priced asset. None of us know what is ahead in the real estate market or short
term rental market but we all know that it is going to take this market some time to
recover. When we do turn the corner our $1M - $1.2M buyers are instead likely going to
spend less and so we truly feel that the Spruce Ridge Townhome will be easier to resell
than 1361. We also do feel that there will be more inventory of $1M - $1.2M properties on
the market come summer.
We know this is not the ideal scenario but it is a really good option. Many sellers right now
are simply losing their sale altogether.
Please let me know if your Sellers are interested in either of the two options above and wed 89
Page 2 of 3
details. The trade option would entail the Feigelsons talking to their lender to find out what jumbo
loans are available now as their lock expires on 3-31 and jumbo loans have changed. We would just
have to work through all of those details if it were a viable option for the Banburys.
Very sincerely,
KM00190
Page 3 of 3
Wednesday, March 25, 2020 at 10:51:40 PM Mountain Daylight Time
Subject: 1361 GCR 8
Date: Wednesday, March 25, 2020 at 1:45:21 PM Mountain Daylight Time
From: Kristen L Meyer
To: lisa@rewinterpark.com, Kristen L Meyer
Attachments: Unsigned 2-12-2020 AGREEMENT TO AMEND-EXTEND CONTRACT.pdf, image001.png,
image002.
jpg
Lisa, Please see attached letter from the buyers in response to the sellers letter dated 3-24.
March24LettertoSellers.pdf Download (only)
CTM Web Signature Ready
Keislen
L Me yer, Broker
Kriste is Meyer.corr
wuJW.Kris
76: }USHWY 40 PC 1632
Wi
\W ark, CO 80462
LA
Kristen L Meyer
is
%
RiPEAK TO PEAR
KMO00191
Page 1 of 1
Wednesday, March 25, 2020 at 10:52:33 PM Mountain Daylight Time
Subject: Response to Buyers' Letter Dated March 25, 2020
Date: Wednesday, March 25, 2020 at 4:50:55 PM Mountain Daylight Time
From: Bowen Banbury
To: Lisa Leclair Waldorf, Team
Any and all offers made to the Feigelsons are hereby withdrawn. The contract is terminated and we will
proceed with the dispute over the Earnest Money.
All the best,
Bowen
Bowen W. Banbury
SS bowen@thunderbirdcapital.com
THUNDERBIRD (303) 335-0699
This email transmission may contain information that is proprietary,
privileged and/or confidential and is intended exclusively for the person
(s) to whom it is addressed.
Any use, copying, retention or disclosure by any person other than the
intended recipient or their designees is strictly prohibited. If you are
not the intended recipient or their designee, please notify the sender
immediately by return email and delete all copies.
KM00192
Page 1 of 1
Wednesday, April 8, 2020 at 7:58:46 PM Mountain Daylight Time
Subject: Re: 1361 GCR 8
Date: Monday, March 30, 2020 at 10:01:30 AM Mountain Daylight Time
From: Richard Stice
To: Kristen L Meyer
Attachments: image001.jpg, image002.gif, image003.jpg
Oh, no. Not mailing the money out. Simply releasing it out of the file to allow it to cancel. I've sent a
message to Lisa. Sorry for my miswording. We'll get this sorted. Thanks!
a
Richard Stice
Closing Associate
Colorado Title License No. 556687
Land Title Guarantee Company
78336 US Highway 40, Suite B3
P.O. Box 929
Winter Park, CO 80482
Office: 970-722-0454
Fax: 800-322-9905
www.ltge.com
ft
CINNOVATIV:
Land Title
GUARANTEE ct PANY
CL l
Ask us adout our Curbside
Ss
Closing&
— Siner = M M opti 5 today
A PREVENT FRAUD — Please remember to call a member of our closing team
when initiating a wire transfer or providing wiring instructions,
On Mon, Mar 30, 2020 at 9:56 AM Kristen L Meyer wrote:
Unless the seller has signed the earnest money release you should not release the earnest money.
Please ask Lisa as it is her client who is not signing.
Kristen L Meyer 3
Broker
970,531.2:
Kristen@kKristenLMeyer corr
wun Kristenl Meyer am
78491 US HWY 40 POB 1632
Winter Park, CO 60462
Vs aA KM00193
Page 1 of 3
Krisren L Meyer
reel existe evellence
RE/MAX
PEAK 10 PEAK
From: Richard Stice
Date: Monday, March 30, 2020 at 9:50 AM
To: kristen meyer
Subject: Re: 1361 GCR 8
Hi Kristen,
I'm releasing the earnest money now. I would like to have the other party sign. If this is not going to
happen, I can hang onto the earnest money or take direction from you yourself. Thank you!
=a
Richard Stice
Closing Associate
Colorado Title License No. 556687
Land Title Guarantee Company
78336 US Highway 40, Suite B3
P.O. Box 929
Winter Park, CO 80482
Office: 970-722-0454
Fax: 800-322-9905
www.ltge.com
tt
CINNOVATIY:
Land Ti tle
LIAR PANY
CLOSI
Ask us aout our
Ss
side Closing &
— intial M options today.
AN PREVENT FRAUD — Please remember to call a member of our closing team
when initiating a wire transfer or providing wiring instructions.
KM00194
Page 2 of 3
On Wed, Mar 25, 2020 at 2:46 PM Kristen L Meyer wrote:
Richard,
Please see termination below. The earnest money release was signed bythe buyers but not the sellers. Thank
you.
EARNEST MONEY RELEASE [2}por print (only)
CTM Web Signature Ready
NOTICE TO TERMINATE [Zee print (only)
CTM Web Signature Ready
%L
Kristen leyer, Broker
970.53
Kristen@KristenLMeyer. com
wuwwikristenLMeyer om
7649 JS H\W/Y 40 POB 1632
Winter Park, CO 60482
LA
Kristen L Meyer
pmol athte isla
PEAK 10 PEAK
KM00195
Page 3 of 3
Wednesday, April 8, 2020 at 7:57:12 PM Mountain Daylight Time
Subject: 1361 GCR 8
Date: Wednesday, March 25, 2020 at 2:46:00 PM Mountain Daylight Time
From: Kristen L Meyer
To: rstice@ltgc.com, Kristen L Meyer
Attachments: image001.gif, image002.jpg
Richard,
Please see termination below. The earnest money release was signed by the buyers but not the
sellers. Thank you.
EARNEST MONEY RELEASE A PDF Print (only)
CTM Web Signature Ready
NOTICE TO TERMINATE [2fepe print (only)
CTM Web Signature Ready
Keister
Meyer. Broker
33}
Kris Krisl Meye: orr
uw KriskenLM com
7649] US HWY 2OB 1632
Winter Park, C 60452
LA
Kristen L Meyer
real exile excellence
RE/MAX
PEAK TO PEAK
KM00196
Page 1 of 1
Preview
Wednesday, March 25, 2020 at 10:27:28 PM Mountain Daylight Time Subject: County Road 8 couple items EXHIBIT Date: Thursday, March 5, 2020 at 7:47:17 AM Mountain Standard Time From: Lisa Leclair Waldorf 72 DATE FILED: July 5, 2 T6t PM To: Kristen L Meyer FILING ID: D2F2COBF72C48 CASE NUMBER: 2020CV 30025 Hi again, So on CR 8, I'm assuming we're aok on appraisal? Let me know if not. | have had so many calls with the Seller (and many emails but many more more calls) and they are telling me that they never planned to move the Easter weekend rental. So here are a few options:' 1) We close and buyer accepts Easter Weekend rental (I think there is income in the 500 range net to Buyer for two nights...trying to verify). Turn Key manages. They would love to chat with the buyer (as I'm sure you can imagine). 2) We push closing to just after Easter. 3) | deal with the silly relocation of these people for another few hundred bucks. I'm ok with any of these just looking to get a resolution and move on with the Seller 4) | don't believe the buyers signed the amend extend you sent over a week or so ago or maybe | don't have a copy. Thanks and let me know! Lisa oLta deelecte Waldorf Broker/Owner — ~~ a 970.531.1608 cell/text i isa@rewinterpark.com Office: 970.726.2600 Fax: 970.726.2616 PO Box 58 78622 US Highway 40 Winter Park, CO 80482-1641 REAL ESTATE Rea OF WINTER PARK LOCALLY OWNED, LOCALLY INVESTED. KM00173 Page 1 of 1 Wednesday, April 8, 2020 at 7:49:13 PM Mountain Daylight Time Subject: 1361 GCR 8 Date: Monday, March 23, 2020 at 2:14:32 PM Mountain Daylight Time From: Kristen L Meyer To: lisa@rewinterpark.com, Kristen L Meyer, Tim Brown Attachments: image001.gif, image002.jpg Can you please have the seller sign these asap. Land Title needs it for closing. | did not realize we never wrapped up the personal property agreement. Also for the $1500 from you to the seller. | am going to have to ask the lender about this. I'll see if they will allow a closing cost credit from you to them. Thanks! CLOSING INSTRUCTIONS Pb eve Print (only) CTM Web Signature Ready PERSONAL PROPERTY AGREEMENT (RESIDENTIAL ONLY) [bee print (only) CTM Web Signature Ready Krista Kristen L Meyer. Broker 970. 2335 Kriste: O! KristrenLMeyer.com 1Kristenl M le yercam 76 1US HWY 40 POB 1632 Winter Park, CO 604652 LAS Kristen L Meyer iimnbaDte wipeliancn RE/MAX PEAK TO PEAK KM00174 Page 1 of 1 Wednesday, March 25, 2020 at 10:37:22 PM Mountain Daylight Time Subject: Feigelson real estate transaction Date: Monday, March 23, 2020 at 4:32:13 PM Mountain Daylight Time From: Bruce Feigelson To: Kristen L Meyer Hi Kristen, Unfortunately, with the ongoing and worsening events going on, unless we have a buyer for the condo, it is fiscally problematic for us to proceed with the purchase of 1361 GCR 8. We do not want to carry 3 mortgages, do not have confidence that the rental market will be favorable in the near future, and without the proceeds from the sale of the condo, we will not have the capital to make the needed improvements to the property. We will revisit all of this once the Covid 19 crisis resolves. Please contact me if you have any questions and to confirm that | successfully conveyed our decision. Thank you for all you have done. And hopefully, we can either resurrect this transaction at a later date or resume our search for a home in the near future. We cannot thank you enough for all you have done for us. Bruce and Heather KM00175 Page 1 of 1 Wednesday, March 25, 2020 at 10:39:51 PM Mountain Daylight Time Subject: 1361 GCR 8 Date: Tuesday, March 24, 2020 at 9:14:29 AM Mountain Daylight Time From: Kristen L Meyer To: lisa@rewinterpark.com, Kristen L Meyer Attachments: image001.gif, image002.jpg Lisa, Unfortunately | have bad news. The Buyers of 1361 GCR 8 are terminating based on Section 10.7 as their Spruce Ridge Townhome is not going to close on or before 3-27. Those Buyers terminated on 3-19 and we had made an offer to them to see if we could keep them in the deal but since we have not heard back and have not been able to keep that deal alive and the sellers have not secured another way to make it happen they have to terminate. They thought they had another option to secure the down payment but that has fallen through. EARNEST MONEY RELEASE [29 por print (only) CTM Web Signature Ready NOTICE TO TERMINATE [2fepe Print (only) CTM Web Signature Ready lam so so so sorry. We have all lost many deals through this unprecedented time and it is incredibly tough | know. Both Heather and Bruce are doctors and are on the front lines right now of what is happening. They are working incredibly hard in a way few of us can truly understand yet still have been fighting for this deal as well. They love the home and would love to make this happen. | have included the termination and earnest money release above but we do have two other ideas — 1. Extend - The Buyers are very open to an extension to give them time to get their Spruce Ridge Townhome sold if your Sellers want to do that but | think we would need a 60 day extension to realistically even try to get something done. We could always extend in increments if that helps. Trade Deal — Back in 2012 | had a larger $1M+ home in Rendezvous that had been on and off the market for three years. At the same time | had a client who owned a smaller more saleable cabin in Rendezvous. That client wanted to upgrade and liked the larger Rendezvous home so we made an offer to the owner of the larger home which included a trade deal. At first glance my seller of the larger home was not sure but after stepping back and thinking about it they realized it was actually a great way to downsize, payoff some debt and after the deal was done end up with a property that would be easier to sell. We closed the deal and they had the smaller property sold and closed in 6 months. In that case they downsized into a property that was not even as unique as the property the Feigelsons own. The Feiglesons truly want to make this happen and so if your Sellers would like to reduce their debt and downsize and get into a property that will be easier to sell in any market than this could work for everyone. My buyers are the perfect fit for 1361, they see it as a great home with potential but it truly needs a lot of TLC, some capital improvements and updating. They are willing to do that while other buyers, including some of my own, have felt it needs too much work for the price and they just are not willing to take those projects on. On the flip side the Spruce Ridge Townhome is a 4 bedroom under $700,000 which is really hard to find. | put it on the market on 1-25 and had a full price offer on the same day from a buyer who KM00176 Page 1 of 2 got to see it right before it officially went on the market. That buyer has said they really love the property and want to make it work but they are in the oil and gas business and they took an enormous unexpected hit late last week. They have stated that they have to let this all settle down before they can circle back to a second home purchase. The reality is that as this market eventually settles down, lower priced/unique/turnkey/3-4 bedroom properties are going to be easier to sell. Their Spruce Ridge unit falls in this category. We were under contract for $679,900 with the main furniture included. Here is the linkto the MLS with pictures. https://www.flexmls.com/link.html?1isgy8ithr2h,2,1 What the Banburys would accomplish by moving forward with this idea is liquidating a harder to sell asset, reducing their debt in half (approx.) and ending up with an easierto sell lower priced asset. None of us know what is ahead in the real estate market or short term rental market but we all know that it is going to take this market some time to recover. When we do turn the corner our $1M - $1.2M buyers are instead likely going to spend less and so we truly feel that the Spruce Ridge Townhome will be easier to resell than 1361. We also do feel that there will be more inventory of $1M - $1.2M properties on the market come summer. We know this is not the ideal scenario but it is a really good option. Many sellers right now are simply losing their sale altogether. Please let me know if your Sellers are interested in either of the two options above and we can talk details. The trade option would entail the Feigelsons talking to their lender to find out what jumbo loans are available now as their lock expires on 3-31 and jumbo loans have changed. We would just have to work through all of those details if it were a viable option for the Banburys. Very sincerely, Keister Kriske Meyer, Broker 970 1.2335 Kristen@kristenLMeyer.com www KristenLMeyer.com 7849] US HWY 40 POB 1632 Winter Park, CO 60462 LA Kristen L. Meyer reed axle excellence PEAR TO PEAR KM00177 Page 2 of 2 Wednesday, March 25, 2020 at 10:42:27 PM Mountain Daylight Time Subject: Re: 1361 GCR 8 Date: Tuesday, March 24, 2020 at 1:36:57 PM Mountain Daylight Time From: Lisa Leclair Waldorf To: Kristen L Meyer Attachments: image001.gif, image002.jpg Couple questions before we chat... 1) What were the Buyers planning to put down on the home or perhaps easier...what was their intended loan amount? 2) | forget if | had a second question...Im sure | did but my mind is spinning The Sellers are up here today with a moving truck and are upset since we passed all deadlines and wished we talked about this last week prior to the 20th. They canceled a bunch of services today (Comcast) and moved up "moving". They would like to close asap and I'm trying to keep them focused on that. They can't do a trade at this point but am encouraging an extension. Given that they are working with an investment bank and are doctors...| would think we could piece this together in 30 days? My folks are also emotional b/c their girls are sad they are selling. I'm waiting for Richard to return from lunch and get me a prelim settlement statement. Maybe a partial owner carry? L From: Kristen L Meyer Sent: Tuesday, March 24, 2020 9:14 AM To: Lisa Leclair Waldorf ; Kristen L Meyer Subject: 1361 GCR 8 Lisa, Unfortunately | have bad news. The Buyers of 1361 GCR 8 are terminating based on Section 10.7 as their Spruce Ridge Townhome is not going to close on or before 3-27. Those Buyers terminated on 3-19 and we had made an offer to them to see if we could keep them in the deal but since we have not heard back and have not been able to keep that deal alive and the sellers have not secured another way to make it happen they have to terminate. They thought they had another option to secure the down payment but that has fallen through. EARNEST MONEY RELEASE [Apo print (only) CTM Web Signature Ready NOTICE TO TERMINATE [eve print (only) CTM Web Signature Ready lam so so so sorry. We have all lost many deals through this unprecedented time and it is incredibly tough | know. Both Heather and Bruce are doctors and are on the front lines right now of what is happening. They are working incredibly hard in a way few of us can truly understand yet still have been Page 1 of 3 fighting for this deal as well. They love the home and would love to make this happen. | have included the termination and earnest money release above but we do have two other ideas — 1. Extend - The Buyers are very open to an extension to give them time to get their Spruce Ridge Townhome sold if your Sellers want to do that but | think we would need a 60 day extension to realistically even try to get something done. We could always extend in increments if that helps. Trade Deal — Back in 2012 | had a larger $1M+ home in Rendezvous that had been on and off the market for three years. At the same time | had a client who owned a smaller more saleable cabin in Rendezvous. That client wanted to upgrade and liked the larger Rendezvous home so we made an offerto the owner of the larger home which included a trade deal. At first glance my seller of the larger home was not sure but after stepping back and thinking about it they realized it was actually a great way to downsize, payoff some debt and after the deal was done end up with a property that would be easier to sell. We closed the deal and they had the smaller property sold and closed in 6 months. In that case they downsized into a property that was not even as unique as the property the Feigelsons own. The Feiglesons truly want to make this happen and so if your Sellers would like to reduce their debt and downsize and get into a property that will be easier to sell in any market than this could work for everyone. My buyers are the perfect fit for 1361, they see it as a great home with potential but it truly needs a lot of TLC, some capital improvements and updating. They are willing to do that while other buyers, including some of my own, have felt it needs too much work for the price and they just are not willing to take those projects on. On the flip side the Spruce Ridge Townhome is a 4 bedroom under $700,000 which is really hard to find. | put it on the market on 1-25 and had a full price offer on the same day from a buyer who got to see it right before it officially went on the market. That buyer has said they really love the property and want to make it work but they are in the oil and gas business and they took an enormous unexpected hit late last week. They have stated that they have to let this all settle down before they can circle back to a second home purchase. The reality is that as this market eventually settles down, lower priced/unique/turnkey/3-4 bedroom properties are going to be easier to sell. Their Spruce Ridge unit falls in this category. We were under contract for $679,900 with the main furniture included. Here is the link to the MLS with pictures https://www.flexmls.com/link.html?lisgy8ithr2h,2,1 What the Banburys would accomplish by moving forward with this idea is liquidating a harder to sell asset, reducing their debt in half (approx.) and ending up with an easier to sell lower priced asset. None of us know what is ahead in the real estate market or short term rental market but we all know that it is going to take this market some time to recover. When we do turn the corner our $1M - $1.2M buyers are instead likely going to spend less and so we truly feel that the Spruce Ridge Townhome will be easier to resell than 1361. We also do feel that there will be more inventory of $1M - $1.2M properties on the market come summer. We know this is not the ideal scenario but it is a really good option. Many sellers right now are simply losing their sale altogether. Please let me know if your Sellers are interested in either of the two options above and we can talk details. The trade option would entail the Feigelsons talking to their lender to find out what jumbo loans are available now as their lock expires on 3-31 and jumbo loans have changed. We would just have to work through all of those details if it were a viable option for the Banburys. KM00179 Page 2 of 3 Very sincerely, Kerisler Krisher Meyer, Broker 970 1.2335 Kristen@KristenLMieyer. com www KristenLMeyer.com >) 7849] US HWY 40 POB 1632 Winter Park, CO 60482 LA a a Kristen L Meyer real ectsle arcellence RiTEAK 10 PARX KM00180 Page 3 of 3 Wednesday, March 25, 2020 at 10:43:14 PM Mountain Daylight Time Subject: Re: 1361 GCR 8 Date: Tuesday, March 24, 2020 at 1:53:53 PM Mountain Daylight Time From: Kristen L Meyer To: Lisa Leclair Waldorf, Kristen L Meyer Attachments: image001.jpg, image002.gif, image003.jpg | forwarded the questions. They can extend but any extension has to be contingent on closing Spruce Ridge somehow. | just confirmed the owner carry option does not work. Things have just gotten too precarious day after day. They need to sell Spruce Ridge. They just got word that their daughter is likely also going to lose her job and will have to rely on them for support. They are good moving forward but only as long as Spruce Ridge is sold. | was hoping owning something smaller might be good for your sellers as they could have a place to enjoy until it sells but | realize that was a long shot. Krister Mele yer Broke 335 enokris! LMeyer.com ww Kris NV or a 76 Y 40PC 932 Wint er Park, CO 8( LA Kristen L Meyer atte cirntenes S PEAK TO PEAK From: "lisa@rewinterpark.com" Date: Tuesday, March 24, 2020 at 1:37 PM To: kristen meyer Subject: Re: 1361 GCR 8 Couple questions before we chat... 1) What were the Buyers planning to put down on the home or perhaps easier...what was their intended loan amount? 2) | forget if | had a second question...Im sure | did but my mind is spinning The Sellers are up here today with a moving truck and are upset since we passed all deadlines and wished we talked about this last week prior to the 20th. They canceled a bunch of services today (Comcast) and moved up "moving". They would like to close asap and I'm trying to keep them focused on that. They can't do a trade at this point but am encouraging an extension. Given that they are working with an investment bank and are doctors...| would think we could piece this together in 30 days? KMO00181 Page 1 of 3 My folks are also emotional b/c their girls are sad they are selling. I'm waiting for Richard to return from lunch and get me a prelim settlement statement. Maybe a partial owner carry? From: Kristen L Meyer Sent: Tuesday, March 24, 2020 9:14 AM To: Lisa Leclair Waldorf ; Kristen L Meyer Subject: 1361 GCR 8 Lisa, Unfortunately | have bad news. The Buyers of 1361 GCR 8 are terminating based on Section 10.7 as their Spruce Ridge Townhome is not going to close on or before 3-27. Those Buyers terminated on 3-19 and we had made an offer to them to see if we could keep them in the deal but since we have not heard back and have not been able to keep that deal alive and the sellers have not secured another way to make it happen they have to terminate. They thought they had another option to secure the down payment but that has fallen through. EARNEST MONEY RELEASE A PDF Print (only) CTM Web Signature Ready OTICE TO TERMINATE PDF Print (only) CTM Web Signature Ready lam so so so sorry. We have all lost many deals through this unprecedented time and it is incredibly tough | know. Both Heather and Bruce are doctors and are on the front lines right now of what is happening. They are working incredibly hard in a way few of us can truly understand yet still have been fighting for this deal as well. They love the home and would love to make this happen. | have included the termination and earnest money release above but we do have two other ideas — 1. Extend - The Buyers are very open to an extension to give them time to get their Spruce Ridge Townhome sold if your Sellers want to do that but | think we would need a 60 day extension to realistically even try to get something done. We could always extend in increments if that helps. Trade Deal — Back in 2012 | had a larger $1M+ home in Rendezvous that had been on and off the market for three years. At the same time | had a client who owned a smaller more saleable cabin in Rendezvous. That client wanted to upgrade and liked the larger Rendezvous home so we made an offerto the owner of the larger home which included a trade deal. At first glance my seller of KM00182 Page 2 of 3 the larger home was not sure but after stepping back and thinking about it they realized it was actually a great way to downsize, payoff some debt and after the deal was done end up with a property that would be easier to sell. We closed the deal and they had the smaller property sold and closed in 6 months. In that case they downsized into a property that was not even as unique as the property the Feigelsons own. The Feiglesons truly want to make this happen and so if your Sellers would like to reduce their debt and downsize and get into a property that will be easier to sell in any market than this could work for everyone. My buyers are the perfect fit for 1361, they see it as a great home with potential but it truly needs a lot of TLC, some capital improvements and updating. They are willing to do that while other buyers, including some of my own, have felt it needs too much work for the price and they just are not willing to take those projects on. On the flip side the Spruce Ridge Townhome is a 4 bedroom under $700,000 which is really hard to find. | put it on the market on 1-25 and had a full price offer on the same day from a buyer who got to see it right before it officially went on the market. That buyer has said they really love the property and want to make it work but they are in the oil and gas business and they took an enormous unexpected hit late last week. They have stated that they have to let this all settle down before they can circle back to a second home purchase. The reality is that as this market eventually settles down, lower priced/unique/turnkey/3-4 bedroom properties are going to be easier to sell. Their Spruce Ridge unit falls in this category. We were under contract for $679,900 with the main furniture included. Here is the link to the MLS with pictures. https://www.flexmls.com/link.html?lisgy8ithr2h,2,1 nt ps://www.tlexmis.com/link.ntml: lisgysithr2h,2,1 What the Banburys would accomplish by moving forward with this idea is liquidating a harder to sell asset, reducing their debt in half (approx.) and ending up with an easier to sell lower priced asset. None of us know what is ahead in the real estate market or short term rental market but we all know that it is going to take this market some time to recover. When we do turn the corner our $1M - $1.2M buyers are instead likely going to spend less and so we truly feel that the Spruce Ridge Townhome will be easier to resell than 1361. We also do feel that there will be more inventory of $1M - $1.2M properties on the market come summer. We know this is not the ideal scenario but it is a really good option. Many sellers right now are simply losing their sale altogether. Please let me know if your Sellers are interested in either of the two options above and we can talk details. The trade option would entail the Feigelsons talking to their lender to find out what jumbo loans are available now as their lock expires on 3-31 and jumbo loans have changed. We would just have to work through all of those details if it were a viable option for the Banburys. Very sincerely, KM00183 Page 3 of 3 Keislen Kristen L Meyer, Broker 970.531.233 Kristen@kristenLMeyer,com www KristenLMeyer.com 7849] US HWY 40 POB 1632 Winter Park, CO 60462 LA Kristen L Meyer real elit oallnee RE/MAX PEAR TO PEAR KM00184 Page 4 of 3 Wednesday, March 25, 2020 at 10:45:44 PM Mountain Daylight Time Subject: Fw: 1361 Date: Tuesday, March 24, 2020 at 7:13:32 PM Mountain Daylight Time From: Lisa Leclair Waldorf To: Kristen L Meyer Attachments: 1361 Letter 3-24-20.pdf Ive had many conversations with the Sellers today along with everyone else as I'm sure you have too. | do feel, as | do with many clients, that time and space help which is why | didn't call you earlier. It would have been unproductive. | think this is a big step for my clients and they have had some emotional remorse and feel that we've come so far with our agreements that it would be in poor faith to throw in the towel now. We can chat tomorrow. From: Bowen Banbury - TAB Sent: Tuesday, March 24, 2020 6:38 PM To: Lisa Leclair Waldorf Subject: 1361 Please forward this letter to Kristen or call to discuss. All the best, Bowen Banbury Owner and Facilitator TAB Denver East Phone: (303) 335-0699 | (720) 767-8000 www.TABDenverEast.com A THE ALTERNATIVE BOARD Shared Wisdom, Bottom Line Success 8Ous0 CONFIDENTIALITY NOTICE: This email and any file(s) transmitted with it are confidential and intended solely for the use of the individual or entity to whom they are addressed. if you are not the intended recipient and have received this email in error, please notify the sender and promptly delete the message and attachment. This email transmission may contain information that is proprietary, privileged and/or confidential and is intended exclusively for the person (s) to whom it is addressed. Any use, copying, retention or disclosure by any person other than the intended recipient or their designees is strictly prohibited. If you are not the intended recipient or their designee, please notify the sender immediately by return email and delete all copies. KM00185 Page 1 of 2 KM00186 Page 2 of 2 Wednesday, March 25, 2020 at 10:49:30 PM Mountain Daylight Time Subject: 1361 GCR 8 Date: Tuesday, March 24, 2020 at 10:59:05 PM Mountain Daylight Time From: Kristen L Meyer To: lisa@rewinterpark.com Attachments: Unsigned 2-12-2020 AGREEMENT TO AMEND-EXTEND CONTRACT. pdf, 2020-1-25 contract fs.pdf, Unsigned revised PERSONAL PROPERTY AGREEMENT. pdf, image001.jpg My buyers have requested that | make sure and forward a copy of the contract that says in Section 10.7 that they have until 3-27 to terminate based on the Conditional Sale Deadline as well as a copy of the unsigned amend extend and a copy of the unsigned personal property agreement. They truly feel they have the right to have their earnest money returned and wanted to make sure everyone had copies of all the documents. They have forwarded the documents to their attorney and they will respond to your sellers in the morning as it is getting late. Keister Kris N Vi >yer, Broker 970 12 35 Kr en@okris Lr leyer corm www KristenLV com S 7849] US HWY 40 PC 1632 Winter F 2ark, CO 60 52 LA Kristen L Meyer ik ry real ecthtls eenliney y RE/MAX PEAK TO PEAK KM00187 Page 1 of 1 Wednesday, April 8, 2020 at 7:53:22 PM Mountain Daylight Time Subject: Re: New Email to Sellers Agent Date: Tuesday, March 24, 2020 at 8:07:55 AM Mountain Daylight Time From: Bruce Feigelson To: Kristen L Meyer cc: Heather Feigelson Done On Tue, Mar 24, 2020 at 8:04 AM Kristen L Meyer wrote: Got it. | Il adjust the wording a little. Go ahead and sign those two docs. | think it is best to get that done. Thanks. Kristen L Meyer RE/MAX Peak to Peak 970-531-2335 Sent from my iPhone On Mar 24, 2020, at 6:06 AM, Bruce Feigelson wrote: Thanks Kristen. This looks good. | think it’s important for them to understand the third option is to terminate. It is clearly stated in the first few sentences, but wonder if it needs to restated at the end. Please send the letter on and remind us of you want us to sign the docs or hold off for now. On Tue, Mar 24, 2020 at 12:26 AM Kristen L Meyer wrote: See what you think —| realized | probably needed to clarify a few things in regards to the loan issues surrounding the trade option so read this one - Lisa, Unfortunately | have bad news. The Buyers of 1361 GCR 8 are terminating based on Section 10.7 as their Spruce Ridge Townhome is not going to close on or before 3-27. Those Buyers terminated on 3-19 and we had made an offer to them to see if we could keep them in the deal but since we have not heard back and have not been able to keep that deal alive and the sellers have not secured another way to make it happen they have to terminate. They thought they had another option to secure the down payment but that has fallen through lam so so so sorry. We have all lost many deals through this unprecedented time and it is incredibly tough | know. Both Heather and Bruce are doctors and are on the front lines right now of what is happening. They are working incredibly hard in a way few of us can truly understand yet still have been fighting for this deal as well. They love the home and would love to make this happen. We do have two ideas — KM00188 Page 1 of 3 1. Extend - The Buyers are very open to an extension to give them time to get their Spruce Ridge Townhome sold if your Sellers want to do that but | think we would need a 60 day extension to realistically even try to get something done. We could always extend in increments if that helps. Trade Deal — Back in 2012 | had a larger $1M+ home in Rendezvous that had been on and off the market for three years. At the same time | had a client who owned a smaller more saleable cabin in Rendezvous. That client wanted to upgrade and liked the larger Rendezvous home so we made an offer to the owner of the larger home which included a trade deal. At first glance my seller of the larger home was not sure but after stepping back and thinking about it they realized it was actually a great way to downsize, payoff some debt and after the deal was done end up with a property that would be easier to sell. We closed the deal and they had the smaller property sold and closed in 6 months. In that case they downsized into a property that was not even as unique as the property the Feigelsons own. The Feiglesons truly want to make this happen and so if your Sellers would like to reduce their debt and downsize and get into a property that will be easierto sell in any market than this could work for everyone. My buyers are the perfect fit for 1361, they see it as a great home with potential but it truly needs a lot of TLC, some capital improvements and updating. They are willing to do that while other buyers, including some of my own, have felt it needs too much work for the price and they just are not willing to take those projects on. On the flip side the Spruce Ridge Townhome is a 4 bedroom under $700,000 which is really hard to find. | put it on the market on 1-25 and had a full price offer on the same day from a buyer who got to see it right before it officially went on the market. That buyer has said they really love the property and want to make it work but they are in the oil and gas business and they took an enormous unexpected hit late last week. They have stated that they have to let this all settle down before they can circle back to a second home purchase. The reality is that as this market eventually settles down, lower priced/unique/turnkey/3-4 bedroom properties are going to be easier to sell. Their Spruce Ridge unit falls in this category. We were under contract for $679,900 with the main furniture included. Here is the link to the MLS with pictures. https://www.flexmls.com/link.html? 1isgy8ithr2h,2,1, What the Banburys would accomplish by moving forward with this idea is liquidating a harder to sell asset, reducing their debt in half (approx.) and ending up with an easier to sell lower priced asset. None of us know what is ahead in the real estate market or short term rental market but we all know that it is going to take this market some time to recover. When we do turn the corner our $1M - $1.2M buyers are instead likely going to spend less and so we truly feel that the Spruce Ridge Townhome will be easier to resell than 1361. We also do feel that there will be more inventory of $1M - $1.2M properties on the market come summer. We know this is not the ideal scenario but it is a really good option. Many sellers right now are simply losing their sale altogether. Please let me know if your Sellers are interested in either of the two options above and wed 89 Page 2 of 3 details. The trade option would entail the Feigelsons talking to their lender to find out what jumbo loans are available now as their lock expires on 3-31 and jumbo loans have changed. We would just have to work through all of those details if it were a viable option for the Banburys. Very sincerely, KM00190 Page 3 of 3 Wednesday, March 25, 2020 at 10:51:40 PM Mountain Daylight Time Subject: 1361 GCR 8 Date: Wednesday, March 25, 2020 at 1:45:21 PM Mountain Daylight Time From: Kristen L Meyer To: lisa@rewinterpark.com, Kristen L Meyer Attachments: Unsigned 2-12-2020 AGREEMENT TO AMEND-EXTEND CONTRACT.pdf, image001.png, image002. jpg Lisa, Please see attached letter from the buyers in response to the sellers letter dated 3-24. March24LettertoSellers.pdf Download (only) CTM Web Signature Ready Keislen L Me yer, Broker Kriste is Meyer.corr wuJW.Kris 76: }USHWY 40 PC 1632 Wi \W ark, CO 80462 LA Kristen L Meyer is % RiPEAK TO PEAR KMO00191 Page 1 of 1 Wednesday, March 25, 2020 at 10:52:33 PM Mountain Daylight Time Subject: Response to Buyers' Letter Dated March 25, 2020 Date: Wednesday, March 25, 2020 at 4:50:55 PM Mountain Daylight Time From: Bowen Banbury To: Lisa Leclair Waldorf, Team Any and all offers made to the Feigelsons are hereby withdrawn. The contract is terminated and we will proceed with the dispute over the Earnest Money. All the best, Bowen Bowen W. Banbury SS bowen@thunderbirdcapital.com THUNDERBIRD (303) 335-0699 This email transmission may contain information that is proprietary, privileged and/or confidential and is intended exclusively for the person (s) to whom it is addressed. Any use, copying, retention or disclosure by any person other than the intended recipient or their designees is strictly prohibited. If you are not the intended recipient or their designee, please notify the sender immediately by return email and delete all copies. KM00192 Page 1 of 1 Wednesday, April 8, 2020 at 7:58:46 PM Mountain Daylight Time Subject: Re: 1361 GCR 8 Date: Monday, March 30, 2020 at 10:01:30 AM Mountain Daylight Time From: Richard Stice To: Kristen L Meyer Attachments: image001.jpg, image002.gif, image003.jpg Oh, no. Not mailing the money out. Simply releasing it out of the file to allow it to cancel. I've sent a message to Lisa. Sorry for my miswording. We'll get this sorted. Thanks! a Richard Stice Closing Associate Colorado Title License No. 556687 Land Title Guarantee Company 78336 US Highway 40, Suite B3 P.O. Box 929 Winter Park, CO 80482 Office: 970-722-0454 Fax: 800-322-9905 www.ltge.com ft CINNOVATIV: Land Title GUARANTEE ct PANY CL l Ask us adout our Curbside Ss Closing& — Siner = M M opti 5 today A PREVENT FRAUD — Please remember to call a member of our closing team when initiating a wire transfer or providing wiring instructions, On Mon, Mar 30, 2020 at 9:56 AM Kristen L Meyer wrote: Unless the seller has signed the earnest money release you should not release the earnest money. Please ask Lisa as it is her client who is not signing. Kristen L Meyer 3 Broker 970,531.2: Kristen@kKristenLMeyer corr wun Kristenl Meyer am 78491 US HWY 40 POB 1632 Winter Park, CO 60462 Vs aA KM00193 Page 1 of 3 Krisren L Meyer reel existe evellence RE/MAX PEAK 10 PEAK From: Richard Stice Date: Monday, March 30, 2020 at 9:50 AM To: kristen meyer Subject: Re: 1361 GCR 8 Hi Kristen, I'm releasing the earnest money now. I would like to have the other party sign. If this is not going to happen, I can hang onto the earnest money or take direction from you yourself. Thank you! =a Richard Stice Closing Associate Colorado Title License No. 556687 Land Title Guarantee Company 78336 US Highway 40, Suite B3 P.O. Box 929 Winter Park, CO 80482 Office: 970-722-0454 Fax: 800-322-9905 www.ltge.com tt CINNOVATIY: Land Ti tle LIAR PANY CLOSI Ask us aout our Ss side Closing & — intial M options today. AN PREVENT FRAUD — Please remember to call a member of our closing team when initiating a wire transfer or providing wiring instructions. KM00194 Page 2 of 3 On Wed, Mar 25, 2020 at 2:46 PM Kristen L Meyer wrote: Richard, Please see termination below. The earnest money release was signed bythe buyers but not the sellers. Thank you. EARNEST MONEY RELEASE [2}por print (only) CTM Web Signature Ready NOTICE TO TERMINATE [Zee print (only) CTM Web Signature Ready %L Kristen leyer, Broker 970.53 Kristen@KristenLMeyer. com wuwwikristenLMeyer om 7649 JS H\W/Y 40 POB 1632 Winter Park, CO 60482 LA Kristen L Meyer pmol athte isla PEAK 10 PEAK KM00195 Page 3 of 3 Wednesday, April 8, 2020 at 7:57:12 PM Mountain Daylight Time Subject: 1361 GCR 8 Date: Wednesday, March 25, 2020 at 2:46:00 PM Mountain Daylight Time From: Kristen L Meyer To: rstice@ltgc.com, Kristen L Meyer Attachments: image001.gif, image002.jpg Richard, Please see termination below. The earnest money release was signed by the buyers but not the sellers. Thank you. EARNEST MONEY RELEASE A PDF Print (only) CTM Web Signature Ready NOTICE TO TERMINATE [2fepe print (only) CTM Web Signature Ready Keister Meyer. Broker 33} Kris Krisl Meye: orr uw KriskenLM com 7649] US HWY 2OB 1632 Winter Park, C 60452 LA Kristen L Meyer real exile excellence RE/MAX PEAK TO PEAK KM00196 Page 1 of 1