Scooby says "rut row"!
www.kspr.com/news/local/kspr-sale-of-his...1127,0,6711072.story
Sale of Historic Ozarks Theater in Limbo
Undisclosed liens discovered with Princess Theatre property 10 days after auction
Looks like the future of the historic Princess 3 Theatre in Aurora, MO might not be known after all.
The property was sold at auction two weeks ago to a local church, but now undisclosed liens on the property have put the sale in limbo.
The buyer says he's disappointed and worried they'll never close the deal. Robert Mattingly says the future for the closed Princess 3 Theatre in Aurora is still bright.
"It opens up a whole lot of interest for us and what we can do," Mattingly says. "We'd like to have it available for high school productions. I'd like to see a Christian community theater started. We could bring my life to downtown."
That's why the Senior Pastor of Church on the Rock in Aurora purchased the theater at auction two weeks ago.
"We were able to walk away from there with a beautiful facility for $27,000," Mattingly recalls.
But now, the closing could be pushed back indefinitely.
"We're sitting in the not know right now. We're disappointed that this stuff wasn't disclosed up front," says Mattingly.
Mattingly says 10 days after his purchase, undisclosed liens were discovered against the property.
He says it was a surprise to him, the auction company, and title company.
"The day of the sale, the owners stood there and told myself and the auctioneers it had a free title on it," Mattingly states.
The lien amount is between $60,000 and $70,000, which far exceeds the amount Mattingly says the church is willing to pay for the property.
"It will need renovations and it will probably take $60,000 to $70,000 to get it back to where we want it to be. So obviously we can't spend that on it and have an unusable building," Mattingly states.
But despite the problem, he says he's staying positive and hopeful for the theater's future.
"We are excited about it and the possibility of keeping life in the town. We're hoping the lien holders will be working with us," Mattingly states.
Mattingly says the auction company and title company are contacting the lien holders to see if they will settle for what the church bid on it.
There are numerous lien holders so it could be a couple of weeks before an answer is known.
The seller, Tiffany Ruble, contacted us through email regarding these liens.
Ruble states the liens on the Princess were unknown to them.
She adds the family worked hard to keep the title clean and have been contacting the lien holders themselves to try and see if they will accept the amount the church paid for the property.
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