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A homeowner (often the only one) who refuses to sell to make way for a new development. For example, if a company attempts to buy all the houses in a neighborhood to make way for a shopping center, a holdout is the one who does not sell. Holdouts can force the buyer to abandon or redesign the project.
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A property owner who refuses to sell to a developer who is purchasing a number of separate parcels in order to put them together—an assemblage—for development. Sometimes the practice results in an offer vastly in excess of market price,because the holdout controls the success of the entire project.Other times, developers go back to the drawing board and redesign the project, leaving the holdout with no offer at all and what could turn into very unpleasant living conditions due to being surrounded by parking lots and 24-hour high-intensity lighting.Developers often avoid the problem by purchasing options rather than properties,so that if a critical property owner refuses to sell,the developer can abandon the entire project with a minimal expenditure.

The Complete Real Estate Encyclopedia by Denise L. Evans, JD & O. William Evans, JD. Copyright © 2007 by The McGraw-Hill Companies, Inc.
References in periodicals archive ?
The left already controls 20 regions in continental France, and a close race is expected in right-wing hold-outs, Alsace and Corsica.
Last Monday there were eight hold-outs, but by Friday Aston Villa, Blackburn, Bolton, Fulham, Portsmouth and Stoke had caved in to the newspaper's pressure and agreed to wear the red symbols on their jerseys.
Presidents Lech Kaczynski of Poland and Vaclav Klaus of the Czech Republic, the last two hold-outs, will both sign the treaty before the year's end, and it will come into effect before the British election due by next spring brings the Conservatives to power.
While there may be hold-outs for a while, "they will be increasingly isolated and disreputable" said an OECD official.
Most of these consumers have experienced job loss, pay cuts or loss of insurance coverage.One in five (19 percent) are Hold-Outs -- a young group clinging to their standard of living despite being on shaky financial ground.
To paraphrase a long-extinct presidential campaign (think 1990s), "it's the economy, stupid!" Once that first state took the gamble on legalized gaming, there was little doubt most states would jump into the river of chips (a look at the maps on the back cover show Utah and Hawaii as the only hold-outs against any form of legalized gaming).
When not fielding questions from Democratic moles at last week's GOP Presidential debate, Anderson Cooper and CNN had a grand time portraying Republican voters as Bible-thumping, gun-wielding Confederacy hold-outs. On immigration, however, the candidates didn't need any media help as they continued their descent into self-parody.
Some hold-outs refuse, and their line will die with them.
But the category warrants attention these days, not only because of the recent actions of the bankrupt Global Home Products, but because improved overseas manufacturing capabilities could make this the next category-perhaps one of the last hold-outs in home furnishings-to face competition from China.
The Government's proposals will have an effect on a few hold-outs, such as the odd train station where smoking is still permitted.
As floodwaters began to slowly recede with the first of the city's pumps returning to operation, Mayor Ray Nagin instructed law enforcement officers and the US military late last night to evacuate all hold-outs for their own safety.