Ask Experts Questions for FREE Help!
Ask    ||    Answer
 
  Advanced  
 

Ask QuestionsprogressAnswer QuestionsprogressBuild ReputationprogressBecome an Expert
 
Free Answers in 3 Easy Steps

Register Now
3 Steps

At Ask Me Help Desk you can ask questions in any topic and have them answered for free by our experts. To ask questions or participate in answering them you must register for a free account. By registering you will be able to:
  • Get free answers from experts in any of our 300+ topics.
  • Accept money for answers that you provide.
  • Communicate privately with other members (PM).
  • See fewer ads.

Home > Law > Real Estate Law   »   contract for deed sale gone bad

 
Thread Tools Search this Thread Display Modes
Question
 
 
#1  
Old Jul 13, 2006, 11:46 PM
Pete Moak
New Member
Pete Moak is offline
 
Join Date: Jul 2006
Location: Arizona
Posts: 3
Pete Moak See this member's comment history on his/her Profile page.
contract for deed sale gone bad

Home seller found a buyer who could not qualify for purchasing at the time he moved in to the house but believed he could either come up with the money needed to buy the home or qualify for a loan within one year. So, the buyer signed a promissory note for the full price of the home, less a down payment and agreed to pay $850 per month for one year and then obtain financing at that time to pay the remaining balance on the price of the home. Buyer moved in to the home and made modifications to the home even though the seller told him not to make any modifications until after the home was in the buyer’s name. At the end of one year, the buyer was unable to obtain financing for a loan and did not have the amount still owed for the purchase price. The buyer refuses to move out and is requesting that the seller pay to the buyer the cost of all the modifications buyer made to the property during the time since possession. What is the best way for the seller to obtain possession? Is a forcible detainer action appropriate even though there is no lease contract?

Reply With Quote
 
     

Answers
 
 
Old Jul 14, 2006, 07:21 AM   #2  
Über Member
RickJ is offline
 
RickJ's Avatar
 
Join Date: Aug 2005
Location: KV35
Posts: 7,358
RickJ See this member's comment history on his/her Profile page.RickJ See this member's comment history on his/her Profile page.RickJ See this member's comment history on his/her Profile page.RickJ See this member's comment history on his/her Profile page.RickJ See this member's comment history on his/her Profile page.RickJ See this member's comment history on his/her Profile page.
Yes. This is an eviction issue. In my state court costs are about $150 and doing it yourself involves 2-3 trips to the courthouse, waiting in line, etc.

Attorneys here do evictions for about $200. Definately well spent money.

I'd hire an attorney to do the eviction. He may use the agreement you have as the "lease" - or call it a "verbal month to month occupancy"...either way, should be no problem at all.
  Reply With Quote
 
     
 
 
Old Jul 14, 2006, 08:10 AM   #3  
Christianity Expert
Fr_Chuck is offline
 
Fr_Chuck's Avatar
 
Join Date: Nov 2005
Location: Georgia
Posts: 36,514
Fr_Chuck has disabled reputation
Well it is alittle cheaper here in TN, it will be 75 dollars if you do it your self and three trips to court,

The judge should rule it a simple evictioin but if not it would go as a foreclosure, in any way, the buyer will have to move out, ( expect it to take about 90 days to 3 months depending on your area.
  Reply With Quote
 
     
 
 
Old Jul 14, 2006, 08:14 AM   #4  
Über Member
RickJ is offline
 
RickJ's Avatar
 
Join Date: Aug 2005
Location: KV35
Posts: 7,358
RickJ See this member's comment history on his/her Profile page.RickJ See this member's comment history on his/her Profile page.RickJ See this member's comment history on his/her Profile page.RickJ See this member's comment history on his/her Profile page.RickJ See this member's comment history on his/her Profile page.RickJ See this member's comment history on his/her Profile page.
Holy smoke! (Pun intended Fr_Chuck ) 3 months!? Ohio is considered more landlord friendly than tenant friendly on issues of non payment. From filing to set-out is rarely more than 40 days.
  Reply With Quote
 
     
 
 
Old Jul 14, 2006, 08:18 AM   #5  
Christianity Expert
Fr_Chuck is offline
 
Fr_Chuck's Avatar
 
Join Date: Nov 2005
Location: Georgia
Posts: 36,514
Fr_Chuck has disabled reputation
Got to give that official notice and our 10 day or less court is normally 30, ( they are that busy right not, plus often getting service done has been an issue) ( the old sheriff has to stop chewing and spitting long enought to drive over to the house

Then of course if there is a counter claim by the other party,

I would agree always use the attorney ( ours will be closer to 300 here)
  Reply With Quote
 
     
 
 
Old Jul 14, 2006, 10:21 AM   #6  
Senior Member
Dr D is offline
 
Join Date: Dec 2005
Location: Phoenix, AZ
Posts: 701
Dr D See this member's comment history on his/her Profile page.Dr D See this member's comment history on his/her Profile page.
I respectfully disagree with the previous answers. I am not an attorney, but it seems that the guiding instrument is a Contract For Deed (Land Contract, Agreement For Sale), and is not a landlord tenant situation. The buyer has an Equitable Interest in the property even though title remains with the seller. The seller's recovery of the property would be governed by that state's Contract for Deed statute. The seller should contact an attorney to determine if there is in fact a valid Contract for Deed. If so, the attorney will file an Affidavit of Forfeiture. The time to recover the property will depend on the % of equity that the buyer has. I think that the buyer will lose the cost of improvements he has made. Let us know what the attorney says.

Comments on this post
Pete Moak agrees: Well reasoned response. Probably correct.
  Reply With Quote
 
     
 
 
Old Jul 14, 2006, 10:38 AM   #7  
New Member
Pete Moak is offline
 
Join Date: Jul 2006
Location: Arizona
Posts: 3
Pete Moak See this member's comment history on his/her Profile page.
Dr. D:
You are probably correct as the parties were in agreement on the terms of a contract for deed, land contract or agreement for sale type contract. The buyer simply has not completed the contract terms and is not willing to vacate. I also agree that the time during which the buyer may redeem will depend upon the proportion of the price he has paid.
  Reply With Quote
 
     
 
 
Old Jul 14, 2006, 11:20 AM   #8  
Über Member
RickJ is offline
 
RickJ's Avatar
 
Join Date: Aug 2005
Location: KV35
Posts: 7,358
RickJ See this member's comment history on his/her Profile page.RickJ See this member's comment history on his/her Profile page.RickJ See this member's comment history on his/her Profile page.RickJ See this member's comment history on his/her Profile page.RickJ See this member's comment history on his/her Profile page.RickJ See this member's comment history on his/her Profile page.
Excellent points. I'll be interested to hear if this indeed is the case - and the outcome. Please keep us posted, Pete.
  Reply With Quote
 
     

Your Answer
Email me when someone replies to my answer
Join Login





Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

 
Similar Sponsors


Thread Tools
Show Printable Version Show Printable Version
Email this Page Email this Page

Similar Threads
Contract for Deed, Please Help!
(5 replies)
Contract for Deed
(1 replies)
Contract for deed
(3 replies)
Contract for Deed again
(2 replies)
Contract for deed
(2 replies)

Search this Thread

Advanced Search

Bookmarks

Sponsors



Copyright ©2003 - 2009, Ask Me Help Desk.
All times are GMT -8. The time now is 01:38 PM.