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Auto dealers Tom and Matt Weaver got another reprieve from foreclosure Friday when the sale of their former Grass Valley facility was postponed.
While his property may not be saved, Tom Weaver still retains his GM dealer’s license. Although the odds seem long, he said Friday he will not stop trying to re-establish the agency.
“I just want to get this thing off my back and find a building in Auburn or Grass Valley” where he can reopen, Weaver said. “There’s plenty of buildings available on Highway 49.”
The embattled car dealer said he might do what Grass Valley Ford-Lincoln-Mercury recently did and move his operation to Auburn.
The sale of his new facility at 400 Idaho-Maryland Rd. on the courthouse steps to the highest bidder is now set for 12:30 p.m. Friday, Jan. 15, according to Teresa Drake of
Chicago Title Company’s foreclosure department in San Bernardino.
The legal notice for the trustee’s sale at auction to the highest bidder describes the property boundaries in detail, “together with all buildings, structures and improvements.”
In November, KeyBank declared the Weavers in default on the loan for the new Weaver Auto and Truck Center, which was built in 2006 after an arduous process of gaining permits from the city, sometimes vociferous public criticism and weather-related construction setbacks.
Matt Weaver is now living out of the country, according to friends, but he was listed in the legal documents for the loan default along with his brother.
The Weavers had failed to make timely payments on the loan, and the legal notice of the sale said they still owe an estimated $8 million. Tom Weaver said the figure was closer to $7 million in late November.
The initial sale was set for Dec. 15, but was called off by KeyBank due to snow in the Sierra. KeyBank called off Friday’s sale as well, Drake said.
The dealership closed Oct. 31 when GMAC hauled 120 cars and trucks it had bankrolled off of Weaver’s lot because of tightened credit rules. Weaver laid off the remaining 22 workers from the staff of 40 he once employed.
Former Weaver employee Rich Mueller was at the courthouse Friday to encourage Tom Weaver when the auto dealer called to say the planned sale was postponed.
“The day we closed, people came in, and they were almost crying,” Mueller said.
“You couldn’t work for a nicer guy than Tom Weaver.”
Not having the two dealerships will continue to hurt the city of Grass Valley, which is trying to make up a deficit of $750,000.
The deficit was caused partially by the loss of sales tax from the auto dealers, according to city officials.
City Editor Trina Kleist contributed to this report. To contact Senior Staff Writer Dave Moller, e-mail dmoller@theunion.com or call 477-4237.
While his property may not be saved, Tom Weaver still retains his GM dealer’s license. Although the odds seem long, he said Friday he will not stop trying to re-establish the agency.
“I just want to get this thing off my back and find a building in Auburn or Grass Valley” where he can reopen, Weaver said. “There’s plenty of buildings available on Highway 49.”
The embattled car dealer said he might do what Grass Valley Ford-Lincoln-Mercury recently did and move his operation to Auburn.
The sale of his new facility at 400 Idaho-Maryland Rd. on the courthouse steps to the highest bidder is now set for 12:30 p.m. Friday, Jan. 15, according to Teresa Drake of
Chicago Title Company’s foreclosure department in San Bernardino.
The legal notice for the trustee’s sale at auction to the highest bidder describes the property boundaries in detail, “together with all buildings, structures and improvements.”
In November, KeyBank declared the Weavers in default on the loan for the new Weaver Auto and Truck Center, which was built in 2006 after an arduous process of gaining permits from the city, sometimes vociferous public criticism and weather-related construction setbacks.
Matt Weaver is now living out of the country, according to friends, but he was listed in the legal documents for the loan default along with his brother.
The Weavers had failed to make timely payments on the loan, and the legal notice of the sale said they still owe an estimated $8 million. Tom Weaver said the figure was closer to $7 million in late November.
The initial sale was set for Dec. 15, but was called off by KeyBank due to snow in the Sierra. KeyBank called off Friday’s sale as well, Drake said.
The dealership closed Oct. 31 when GMAC hauled 120 cars and trucks it had bankrolled off of Weaver’s lot because of tightened credit rules. Weaver laid off the remaining 22 workers from the staff of 40 he once employed.
Former Weaver employee Rich Mueller was at the courthouse Friday to encourage Tom Weaver when the auto dealer called to say the planned sale was postponed.
“The day we closed, people came in, and they were almost crying,” Mueller said.
“You couldn’t work for a nicer guy than Tom Weaver.”
Not having the two dealerships will continue to hurt the city of Grass Valley, which is trying to make up a deficit of $750,000.
The deficit was caused partially by the loss of sales tax from the auto dealers, according to city officials.
City Editor Trina Kleist contributed to this report. To contact Senior Staff Writer Dave Moller, e-mail dmoller@theunion.com or call 477-4237.
