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RKent27
Jan 27, 2008, 07:37 PM
My husband and I purchased a modular home last October on a Land Contract. The purchase price was $62,000, and we put $5,000 and agreed to $500 a month. We also agreed to finance through a bank within 5 years. Well, my Dad passed away and left my Mom with a huge house all to herself. We have decided to move in with her (since her house if next door!). What are our options on either selling or getting out of this contract? We have put well over $5,000 into it (new carpets, paint, appliances, etc) and hate to lose everything! We've made all of our payments on time. Help!! Can we sell it ourselves?? Or are we able to get our down payment back at least?

ScottGem
Jan 27, 2008, 08:00 PM
You can't sell it because you don't own it. You may be able to assign it to someone, if the contract permits. You might be able to negotiate a buyout from the owner.