Update on Scott Bosgraaf


Well its gotten to that point, where Scott Bosgraaf deserves his own post. Oddly enough it seems that he has been following in his former lessee, Brett Flipse’s footsteps.

Scott Bosgraaf in front of what could be a building (at least GR Press knows how to label file photos)

Last time I wrote about Scott Bosgraaf he seemed to be doing quite well, owning several companies and building developments, but as you can see many of these are running into trouble:

Huntington Bank was a major financier for Bosgraaf, had enough, and decided to pursue action against Bosgraaf.  The bank began to take some properties into foreclosure, and initiated some lawsuits to receive payment on loans.  Auto Sports Unlimited (which was used as an umbrella company to Bosgraaf Commercial, and Holland Transmission Service) and Faargsob (Bosgraaf backwards) where used as collateral for some of his developments, and both have filed for bankruptcy.  The legal battles between Huntington Bank and Bosgraaf are ongoing so we will have to wait and see how this will all play out.

The situation between Bosgraaf and his lenders has been brewing for awhile.  Back in January 2011, I noticed lots of visitors to The Ledger were searching for “Scott Bosgraaf foreclosure” or some variation of that.  At the time I could not verify any of that information, but now the press has caught wind of the story.

Read more at Holland Sentinel, Grand Rapids Press, Argus Press, and my original post here.
Though I do love the title for this Scott Bosgraaf photo “Scott Bosgraaf of Baker Lofts stand in the wine cellar at what could be Theodore, the new restaurant at Baker Lofts. ”  At what could be… really?

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9 responses to “Update on Scott Bosgraaf

  1. They live very well for a family that seems to have so many foreclosure notices and bad real estate deals associated w them. The cars they drive are magnificent. Still in the radically renovated home in Holland, too, although it seems they are only “home” for friends and do not answer the door for people who may/may not be serving them papers:)

  2. Property Searcher

    Their lake home was sold at sheriff’s auction in March:

    4090 PENINSULA DR
    BAY HARBOR, MI 49770

    http://www.realtor.com/realestateandhomes-detail/4090-Peninsula-Dr_Bay-Harbor_MI_49770_M36628-00258?source=web

    Purchased 03/09/2007 for $3,045,000.00 by BOSGRAAF SCOTT & SUZZANE L.

    Last sold 03/03/2011 for $4,387,607.00 Grantor: SHERIFF Buyer: KONDAUR CAPITAL CORPORATION

  3. Now hearing thru a local good source that Soctt is being investigated for several bank fraud transactions. That never can end well……

  4. Thanks Weston, someone on the Facebook page also mentioned that the scheduled hearing on December 10th was cancelled because “Scott decided to tell the bank where he was hiding assets.” http://www.facebook.com/notes/the-ledger/is-scott-bosgraaf-in-financial-trouble/176975432339856?notif_t=note_comment

  5. Yesturday the Fed’s filed a $500,000 Tax Lien on all the Properties including his homes.

  6. Scott needs to keep the heat on @ his portion of the old Chris Craft plant. Apparently he is not paying the heating bill for heated storage of motor yachts. A man from Chicago is worried that the heat will go off causing some trouble for his big boat. Scott is a busy man.

  7. New update as of 04-09-2012 @ Owosso’s WOODARD STATION & LOFTS building….

    A new owner has purchased the 4th and 5th floors.

    The purchaser:

    Station Properties, LLC
    148 South River Avenue
    Suite 200
    Holland, MI.

    Another L.L.C. by Scott Bosgraaf?

    Where is our down payment money?

  8. Station Properties, LLC
    148 South River Avenue
    Suite 200
    Holland, MI.

    Is INDEED another L.L.C. by Scott Bosgraaf?

  9. Thomas A. Ochodnicky Jr.

    Scott Bosgraaf = Seems to really be a “greedy me first, the customers last prick” that can not be trusted and will end up repeating the bankruptcy process here at OWOSSO’S WOODARD STATION when his TAX FREE CREDITS end for this complex in 2015.

    How is that people like this can continue to do business like this time and time again with little real penalty on him or his business actions?

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