Ok, I have posted before.
I had a contract for deed piece of property, and have myself been going back and forth with a lawyer and the client.
trying to make a offer to end this nightmare.
I offered them 1000.00 in 10 payments and at the end of that to sign a quitclaim deed or
500.00 and together with that to sign a quit claim deed.

the lawyer sent me paper work with a 10 day time period on it yes..we will take your 1000.00 and your quit claim deed (now signed) so he took both offers and combined them.

which burned my tush! im past the 10 days now. my husband and i are seperated and are trying to work that out. they know this, they know we have nothing to take no assets, ect i have already informed them of this.

can someone tell me the pros and cons and why they want the quit claim deed signed how it affects me, and if i sign the quit claim deed how is my agreement/ to pay the 1000.00 (upon fulfillment of buyers obligations as hereinabove set forth this agreement shal constitute a full and complete release of all claims of seller against buyers) by signing the quit claim deed does that do something to my agreement? im getting confused does anything cancel anything out here? lol
thanks and sorry if im confusing!

ScottGem

I'm confused are you buying or selling?

Gettingscrewed

sorry buying. trying to end the contract. been moved out of it for a year making payments untill 2 months ago

ScottGem

So if you are buying then why do you need to sign a quit claim deed? A contract for deed sale, usually has the buyer making payments over a period of time, often with a baloon payment at which point the seller issues a quit claim deed to the buyer.

Gettingscrewed

The seller and I are trying to work out a deal, I want out, and they want to sell it and be done with it.
We have moved out a year ago. We thought it was one of those contracts where if you give notice, move out all your payments would go as rent. we were wrong. we had been out of the home for a year making payments on an empty house, couldnt keep up. Marital problems, late payments, they said if you cant make payments on time we need to sell.
I turned over the keys to them so they could sell.
Then they got a lawyer. Said we defaulted the Agreement. So I have been trying to go through My husband (who doenst live with me anymore) there lawyer and try to make this come to an agreement. to make everyone happy.
Basicly im paying money to them to get out of the contract. on monthy paymets 1000.00 or 500.00. it is just that my offer to them was 1000.00 and a quit claim deed after payments were paid or 500.00 together with a quit claim deed.
they said 1000.00 and want the quit claim deed. I am confused.
i know you have to be.

ScottGem

Did you review the contract or have an attorney do so? Did they ever quit claim the deed to you (or you and your husband)?

This still is not making sense and you probably need an attorney to unravel it. But the first thing is to go over the contract, especially look for clauses that refer to defaulting on the payments.

In a contract for deed, the property is not transferred to the buyer until the contract is fulfilled. If the property was transferred into your name, then you own it and they would have to foreclose.

Gettingscrewed

I did have a lawyer look at the contract. The original paper work i got from the sellers lawyer wanted 7thousand dollars and a quick claim deed signed.
I told the lawyer I didnt have the 7 thousand dollars. The lawyer said that I would pay him far more than 7 thousand dollars to get out of it if he could get me out of it. I had nothing really to satisfy a judgment really so i just asked if i could battle with the lawyer myself and he said yes.
so i made the offer stated above, as they are on a time frame, wanting to get the property back so they can re sell it, I dont want it, The property was never transfered to us. The loan, taxes everything is in there name. But they keep sticking to the story that it is "our property"
I dont like the fact that i made them 2 offers and they took both of my offers and made there own.
I dont mind to settle for one of the offers. just not both of my offers combined. I wouldnt think that If I am making payments for 10 months to them and sign a quit claim deed to them they could resell the house? or if i sign the quit claim deed to the house then are the 10 payments no good? that makes no sence to me

ScottGem

it doesn't make sense to me, but unless you know EXACTLY what your contract says then we really can't help. You need to understand what the contract says. Or show us the parts that cover default so we can advicse further. You also need to answer our questions fully. Was the property deeded to you?