Buyers waiting for attorney to provide tab for Fallbrook Golf Club
Last updated 10/28/2016 at Noon
Jade and Julie Work, the Fallbrook couple who as Gird Valley, Inc., have been working to purchase Fallbrook Golf Club from Jack Lamberson, are ready to complete the deal but are waiting to receive the final bill from attorney Ronald Richards.
Richards’ D-Day Capital, LLC, owns the notes on the 116-acre Gird Valley property. D-Day Capital had its trustee, Chicago Title Company, serve Lamberson with a notice of default on Sept. 1, stating he owed $53,208.24 in past due payments. D-Day Capital also recorded a lis pendens (notice of pending legal action) against the property.
While D-Day Capital was taking the first steps in the foreclosure process, Lamberson reached a deal with the Works, longtime Fallbrook residents who want to preserve the property from development. Beverly Hills-based Richards is well known for working with developers.
Richards, Lamberson and Jade Work and lawyers from all sides appeared before Vista Superior Court Judge Earl H. Maas III on Oct. 14. It was the parties’ second appearance of the month before the judge.
“We're trying to close,” said Jade Work on Monday, Oct. 24. “We're waiting for D-Day Capital to submit all the paper work to the title company and then we can close. The judge made a ruling that asked D-Day Capital to supply a payoff demand (statement) and to release the lis pendens once it's paid in full.”
Work said he was hopeful that escrow could close by the end of this week.
“We would have closed last week,” said Work. “We're just waiting for the payoff demand to be made to the title company.”
Despite the delays in the escrow process and the added costs that come with them, Work is not discouraged.
“No good deed goes unpunished,” deadpanned Work. “It's been a little trying but we're pushing through. We definitely want to do a great thing for the community."
The Works are Fallbrook High graduates, and as youngsters both spent time playing on the Fallbrook Golf Club property. It is the Works' fondness for the valley land that prompted them to pursue buying the property.
"Our main intention is to preserve the property from development,"
Jade told SaveFallbrookGolfCourse.com. "It is important to us to keep this land open for others to enjoy as we have growing up here."
Jade Work owns and operates the golf course construction company Integrity Golf but hasn't said he if will try to reopen the Gird Valley course, which hasn't received any maintenance for months. Although there are many options for the land, the one thing Work has committed to is putting the property into a conservation easement, which will protect it from ever being developed.
It is the Works' philosophy regarding the property that has many Gird Valley residents desperately longing to hear the following four words: "the escrow has closed."
The Village News emailed Richards asking him for a comment regarding the escrow proceedings. Richards didn't respond.