Machine shop foreclosed machinery goes with the shop? - Page 3
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  1. #41
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    Yes. In Hartselle, Alabama, a local plastic injection molding company went out of business. A local real estate company bought the building, office, and all equipment for $235K. The new owner held an auction and sold of large injection molding equipment, a large number of CNC and conventional machine tools, support equipment and tooling. Made more than the initial $235K investment. Now the building has been rented out to another local manufacturer. The real estate company made out big on this situation.

  2. #42
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    The evicted tenant had 30 days to clear his property, wired or not. This is normal. 30 days is adequate to cut the wires and call a rigger. Most likely the evicted tenant either thought the bank was bluffing or had bad legal advice. Once you are told not to return there's little you can do. I had a landlord refuse to renew a lease - I had 30 days to clear and within the 30 I had all, and I mean ALL the CNC's and tools out of the building. I even had all the wiring and breakers out before he knew what had happened. All tucked away - not at my house. Bye-bye. He had smoke coming out of his ears but too bad. I had a good lawyer, and that helped.

  3. #43
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    Quote Originally Posted by DouglasJRizzo View Post
    The evicted tenant had 30 days to clear his property, wired or not. This is normal. 30 days is adequate to cut the wires and call a rigger. Most likely the evicted tenant either thought the bank was bluffing or had bad legal advice. Once you are told not to return there's little you can do. I had a landlord refuse to renew a lease - I had 30 days to clear and within the 30 I had all, and I mean ALL the CNC's and tools out of the building. I even had all the wiring and breakers out before he knew what had happened. All tucked away - not at my house. Bye-bye. He had smoke coming out of his ears but too bad. I had a good lawyer, and that helped.
    This is only a guess, but I suspect that the foreclosed owner may not have had the funds to hire the riggers and store the machines until they could be sold.

    We all know that riggers are not cheap. It cost me $200 to get my Webb Mill moved 50 feet out of the warehouse where I found it and loaded onto my trailer.

  4. #44
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    From my incessant CL searching:

    Machines For Sale (All must go) - tools - by owner - sale

    Guy bought building and is selling machines^^^^ I see similar situations fairly often...once every year or two it seems.

  5. #45
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    Quote Originally Posted by Newman109 View Post
    This is only a guess, but I suspect that the foreclosed owner may not have had the funds to hire the riggers and store the machines until they could be sold.

    We all know that riggers are not cheap. It cost me $200 to get my Webb Mill moved 50 feet out of the warehouse where I found it and loaded onto my trailer.
    Agreed. Or he may not have been physically able to. That's understood. Just my 2c, but I didn't have the cash either, fortunately, I had a place to borrow it and get the job done. You are correct, tho. We don't know all the details.

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  7. #46
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    Foreclosures can go sideways or upside down. One I was only peripherally aware of.....

    A local developer of medical devices wanted my company to become their machine shop. They already had a machinist, old world European who was good, but no CNC. Somewhere along the way the machinist was served with legal papers at his home shop (the papers may have been an eviction notice or foreclosure for missing payments ??) Anyway, he threatened the server who in turn notified the cops. The SWAT team showed up after machinist took his family hostage and threatened to kill them. After a negotiated stand off the machinist was taken into custody. He ended up in prison.

    Whoever the machinist owed money to eventually got the machinist's tools which were consigned to a local auction company to be included in an upcoming shop auction. While the auction company's man was organizing lots for the shop sale he found a weird item in the machinist's box which he didn't realize was a zip gun. He accidentally shot himself in the chest and died on the spot. I don't know if the zip gun incident added to the machinist's prison time. I do know for years after this the machinist was sending letters to the medical company asking them to send letters of recommendation to his parole board.


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