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View Full Version : Land Contract Forfeiture


franticmomma
Aug 27, 2008, 07:57 AM
Now, I know normally forfeiture happens on the part of the seller, but I am a buyer. We purchased our house on land contract 3 years ago. Today we have outgrown the house along with numerous other problems that have surfaced. To name a few the septic system is found to be in violation of health code and will not pass inspection and we believe we have mold growing in the walls of the home. The seller has agreed to have the septic fixed at his expense but it has been nearly 6 months and no work has progressed. We want to get out of this contract but are worried of the repercussions the seller could impart on us. It is not that we can't afford this home, but no longer wish to live here. What are our options? Thanks.

ScottGem
Aug 27, 2008, 08:08 AM
What does the contract say? That should detail your options. Generally you can walk away from the deal with reasonable notice, but you will forfeit anything you have already paid.