DENVER (AP) — An attorney appointed by a probate court to manage Denver residential estates has sold 25 of the homes since 1999 to the same buyer, which in some cases gained thousands of dollars when it resold them.
The Denver Post reports that on average, Ridgemoor Realty held the homes for about a month and sold them for 18 percent more than it paid. Ridgemoor owner Steven Snyder says he spent money repairing many of the properties.
No laws were broken when Bob Steenrod and his partners sold the homes to Ridgemoor.
Real estate records show no other investor has acquired more than three Denver homes from Steenrod since 1999.
Steenrod says his office has no special relationship with Ridgemoor or Snyder.
(Copyright 2010 The Associated Press. All Rights Reserved.)
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