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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 two-story postwar building with capiz windows is a holdout in a high-rise and glass-windows neighborhood.
While holdouts would only have to buy a fraction of
On counts one and three, the two holdouts were "not moving, no matter what" the juror said.
For starters, while it is not possible to measure precisely the economic and social costs of dealing with the holdouts, it is safe to say that they were substantial.
One of the other holdouts, Sean Anderson, said on the broadcast at 9:20 p.m.
(29) The majority of the debt left in flux was that owed to the holdouts that had turned down the opportunity to participate in the bond exchange in hopes of forcing Argentina to repay on terms more favorable to creditors.
The other holdout counties as of July 7 were Dallam and Roberts counties in the Panhandle; Irion, Hartley and Loving counties in West Texas; and Hamilton County, located between Austin and Fort Worth.
These so-called "holdouts," labeled as the buitres, or vultures, in Argentine media, are led by NML Capital and venture capitalist Paul Singer, using courts in the United States and elsewhere to chase this outstanding debt, seizing Argentine assets wherever they may be, even a naval ship at port in Ghana.
District Judge Thomas Griesa prevents Argentina from paying its restructured bondholders until the hedge funds, also known as the holdout creditors, are compensated.
As the clock ticked toward a midnight (0400 GMT) deadline, Economy Minister Axel Kicill of stuck firmly to the government line, repeatedly denigrating the holdouts as "vultures" after two days of intense negotiations.
The standoff figured prominently at the Mercosur bloc's meeting in Caracas on Tuesday, with heads of state castigating the holdouts as speculators menacing the entire region.