dixiebk
Dec 13, 2007, 08:29 PM
I have several questions regarding a Contract for Deed on my property in South Dakota that I purchased in December, 2004.
First off, I'll explain, I purchased the property through the owner, real estate agent and did all paperwork through the real estate agent and attorney.
I paid $20,000 down on a 10 acre farm site costing $75,000.00 total. With a ten year contract at 6.75% with payments of $552.00 per month. I'm now looking at possibly refinancing through the South Dakota Housing Authority as I'm on disability but I don't know how they work as my credit is low due to my ex b/f trying to apply for credit cards through my name since he left, he was able to get two which are now unpaid, stole a one of my checks that is now a lien on my property, stole numerous other things and now has been gone for approximately two years. Thank the Lord, and am still looking at how to press charges on him, the police don't want to do much around here. They are just happy he is gone. He believes he has to sign off on a Deed in order for me to refinance the property - my attorney said that he is only on the Contract for Deed and not on the Property Deed so that when I refinance, the owner just has to sign off on the Deed to the new finance company. Is this correct? My ex was not supposed to be on the Contract for Deed in the first place but went into the attorney's office later and signed the Deed after filling the attorney in with a bunch of baloney, no one bothered to contact me. I'm not real worried about this as my new attorney said he's not really on the property but when I receive the Property tax statement, his name IS on that?
Secondly, pertaining to filing my IRS tax forms, being on SSDI since 2001, I have just signed off on the IRS form and have not filed taxes for a couple of years since my husband passed in early 2003, we filed and then I sold the farm we owned in 2004 and everything in taxes owed was finished, now I just sign the form that Social Security sends me (no state taxes in SD) and go about my merry way. However, as I'm looking through the original Contract for Deed paperwork and checking into filing taxes again, or back taxes, being as I pay 6.75% in interest payments per month - doesn't the person that carries my Contract for Deed need to send me some type of paperwork of proof of the interest I paid each year? I looked it up and I cannot remember the tax form number I thought he was supposed to be sending me in order for me to get a tax credit on my taxes. Is this his responsibility to do? He also believes I'm supposed to be sending him an accounting of all my payments, balance sheet and interest paid so he does not have to be responsible for doing any paperwork - he's 83 years old and believes he has no responsibility to me, has threatened to foreclose on me, has sexually harassed me numerous times and done some stalking. This year in June, I wrote him a letter pertaining to his behavior and started sending my checks to him certified mail receipt as I did not want him on my property because of the harassment and his sexual attempts - one example is his suggestion - "we could pay off a little extra on the farm, if you put out a little something," He rents out approximately 8 homes up town and has done this to numerous single females that he has rented to in the past - I know three females he's done this too. Am I doing the right thing by keeping him away from me and so far I have not sent him an accounting of my payment principle and interest but I have it on my own computer but I don't believe I should have to do his work for him as he's rich enough to hire it done. He's an okay man, I guess, just slightly looney. So this section of question is - should he be sending me a form to file my taxes? For tax credit? And am I doing the right thing as far as his sexual advances are concerned? Or should I take them to my attorney and ask that they file charges for his spreading incorrect rumors that I'm behind payments and he is going to foreclose all because I said "NO"? I'm not behind on payments, I'm ahead on payments.
Last, when we did the Disclosure statement with the seller and the Real Estate agent, I've been looking it over, he did not disclose the age of the roof, and I've had a leaking roof for two years and will be replacing at my cost this spring, he did not disclose that the main furnace (there are two) was not working, he stated it was fine and he had had it checked, I've since found out, when he had it checked it was by a "friend" of his that does not fix furnaces for a living, nor is certified, just changed the filters. Also, a pipe caused mold and the person he rented the place to in the past told me they had trouble with mold due to this particular pipe, yet the seller spread a rumor everywhere that my dogs went potty on the tile floor above creating mold in the basement, when in fact it is a leaking pipe. My four dogs are five pounds each and they do not have accidents, and at the times when they have, I've spilled half a can of pop that produces more moisture on a tile floor. I just find this part funny but he spread these rumors to many in the town and has lived here his entire life and I'm new to the area, so people that had been billing me for services, now want cash for each purchase such as the Rexall Drug where I get my medications - which I'm just paying cash now - not a problem - just the rumors are hurting me - been through enough. Also there are many items on the Disclosure Statement that are incorrect and I've found out that the women he purchased this house from were drug user's - specifically marijuana and meth - will this come up in the future when/if I go to sell since I've found out from people I know that they had major drug parties here (which sounds sick, but the seller in his mid 70's was at parties) when he was renting to them. So, the disclosure statement was incorrect on the furnace, water heater, roof, drug/meth use in the home, mold in the finished basement, work on the septic system (was never emptied which he stated, just roto-rootered out the pipes) many statements as to pipes that were new but are not and statements of what was fixed was by certified repair person, which none of the repairs were done by anyone certified, just done by people that once did their own repairs and he had them take care of his rental properties when they owed him money, this is how he works. Apparently he has other Contract for Deed's out there as he used to own thousands of acres of land in SD and still owns numerous houses that he rents out.
I did not have an inspection done on the farm before purchasing. I have replaced many pipes, fixed most of the mold, putting in a new furnace soon, put in a new water heater, and will be putting on a new roof once I have it out of his name and refinanced, including much interior work, floors, interior design, cabinets, etc.
How binding are the Disclosure Statements if I have any trouble with him on signing off on the Deed for the Property? I am anticipating problems and what would happen to the Contract for Deed if he passes before I get it refinanced? He is 83 yrs old, no living relatives and he has no will? He is healthy - but then he is 83 years old!
I'm working to get my credit straightened out and am hoping by April, 2008 that I can finally refinance using the South Dakota Housing Authority refinancing, or would I just be better off walking away and looking for property in the south come this spring (could put my monthly payments for the next six months towards a new down payment) and stop making payments to him? Yes, I'd be out a lot of money but have I gotten myself into such a situation that I'm throwing money at a lost cause? My mother believes I should just walk away. I'm not even sure if the property is worth more than what I still owe? SD small town hobby farms - with a nice home - but they don't tend to bring much money - two homes sold up town for $16,000 last week - wish I would have known - possible pheasant hunting farm although. I have a four bedroom, four bath home, attached garage and large steel building, and shops and barns on the property in fairly good condition. I've thought about this for over a year and found this site with terrific answers that I thought I'd try - sorry some of this probably should go in different areas.
I've paid off roughly 37-45% of the property.
Thanks so much for any help. Dixie
First off, I'll explain, I purchased the property through the owner, real estate agent and did all paperwork through the real estate agent and attorney.
I paid $20,000 down on a 10 acre farm site costing $75,000.00 total. With a ten year contract at 6.75% with payments of $552.00 per month. I'm now looking at possibly refinancing through the South Dakota Housing Authority as I'm on disability but I don't know how they work as my credit is low due to my ex b/f trying to apply for credit cards through my name since he left, he was able to get two which are now unpaid, stole a one of my checks that is now a lien on my property, stole numerous other things and now has been gone for approximately two years. Thank the Lord, and am still looking at how to press charges on him, the police don't want to do much around here. They are just happy he is gone. He believes he has to sign off on a Deed in order for me to refinance the property - my attorney said that he is only on the Contract for Deed and not on the Property Deed so that when I refinance, the owner just has to sign off on the Deed to the new finance company. Is this correct? My ex was not supposed to be on the Contract for Deed in the first place but went into the attorney's office later and signed the Deed after filling the attorney in with a bunch of baloney, no one bothered to contact me. I'm not real worried about this as my new attorney said he's not really on the property but when I receive the Property tax statement, his name IS on that?
Secondly, pertaining to filing my IRS tax forms, being on SSDI since 2001, I have just signed off on the IRS form and have not filed taxes for a couple of years since my husband passed in early 2003, we filed and then I sold the farm we owned in 2004 and everything in taxes owed was finished, now I just sign the form that Social Security sends me (no state taxes in SD) and go about my merry way. However, as I'm looking through the original Contract for Deed paperwork and checking into filing taxes again, or back taxes, being as I pay 6.75% in interest payments per month - doesn't the person that carries my Contract for Deed need to send me some type of paperwork of proof of the interest I paid each year? I looked it up and I cannot remember the tax form number I thought he was supposed to be sending me in order for me to get a tax credit on my taxes. Is this his responsibility to do? He also believes I'm supposed to be sending him an accounting of all my payments, balance sheet and interest paid so he does not have to be responsible for doing any paperwork - he's 83 years old and believes he has no responsibility to me, has threatened to foreclose on me, has sexually harassed me numerous times and done some stalking. This year in June, I wrote him a letter pertaining to his behavior and started sending my checks to him certified mail receipt as I did not want him on my property because of the harassment and his sexual attempts - one example is his suggestion - "we could pay off a little extra on the farm, if you put out a little something," He rents out approximately 8 homes up town and has done this to numerous single females that he has rented to in the past - I know three females he's done this too. Am I doing the right thing by keeping him away from me and so far I have not sent him an accounting of my payment principle and interest but I have it on my own computer but I don't believe I should have to do his work for him as he's rich enough to hire it done. He's an okay man, I guess, just slightly looney. So this section of question is - should he be sending me a form to file my taxes? For tax credit? And am I doing the right thing as far as his sexual advances are concerned? Or should I take them to my attorney and ask that they file charges for his spreading incorrect rumors that I'm behind payments and he is going to foreclose all because I said "NO"? I'm not behind on payments, I'm ahead on payments.
Last, when we did the Disclosure statement with the seller and the Real Estate agent, I've been looking it over, he did not disclose the age of the roof, and I've had a leaking roof for two years and will be replacing at my cost this spring, he did not disclose that the main furnace (there are two) was not working, he stated it was fine and he had had it checked, I've since found out, when he had it checked it was by a "friend" of his that does not fix furnaces for a living, nor is certified, just changed the filters. Also, a pipe caused mold and the person he rented the place to in the past told me they had trouble with mold due to this particular pipe, yet the seller spread a rumor everywhere that my dogs went potty on the tile floor above creating mold in the basement, when in fact it is a leaking pipe. My four dogs are five pounds each and they do not have accidents, and at the times when they have, I've spilled half a can of pop that produces more moisture on a tile floor. I just find this part funny but he spread these rumors to many in the town and has lived here his entire life and I'm new to the area, so people that had been billing me for services, now want cash for each purchase such as the Rexall Drug where I get my medications - which I'm just paying cash now - not a problem - just the rumors are hurting me - been through enough. Also there are many items on the Disclosure Statement that are incorrect and I've found out that the women he purchased this house from were drug user's - specifically marijuana and meth - will this come up in the future when/if I go to sell since I've found out from people I know that they had major drug parties here (which sounds sick, but the seller in his mid 70's was at parties) when he was renting to them. So, the disclosure statement was incorrect on the furnace, water heater, roof, drug/meth use in the home, mold in the finished basement, work on the septic system (was never emptied which he stated, just roto-rootered out the pipes) many statements as to pipes that were new but are not and statements of what was fixed was by certified repair person, which none of the repairs were done by anyone certified, just done by people that once did their own repairs and he had them take care of his rental properties when they owed him money, this is how he works. Apparently he has other Contract for Deed's out there as he used to own thousands of acres of land in SD and still owns numerous houses that he rents out.
I did not have an inspection done on the farm before purchasing. I have replaced many pipes, fixed most of the mold, putting in a new furnace soon, put in a new water heater, and will be putting on a new roof once I have it out of his name and refinanced, including much interior work, floors, interior design, cabinets, etc.
How binding are the Disclosure Statements if I have any trouble with him on signing off on the Deed for the Property? I am anticipating problems and what would happen to the Contract for Deed if he passes before I get it refinanced? He is 83 yrs old, no living relatives and he has no will? He is healthy - but then he is 83 years old!
I'm working to get my credit straightened out and am hoping by April, 2008 that I can finally refinance using the South Dakota Housing Authority refinancing, or would I just be better off walking away and looking for property in the south come this spring (could put my monthly payments for the next six months towards a new down payment) and stop making payments to him? Yes, I'd be out a lot of money but have I gotten myself into such a situation that I'm throwing money at a lost cause? My mother believes I should just walk away. I'm not even sure if the property is worth more than what I still owe? SD small town hobby farms - with a nice home - but they don't tend to bring much money - two homes sold up town for $16,000 last week - wish I would have known - possible pheasant hunting farm although. I have a four bedroom, four bath home, attached garage and large steel building, and shops and barns on the property in fairly good condition. I've thought about this for over a year and found this site with terrific answers that I thought I'd try - sorry some of this probably should go in different areas.
I've paid off roughly 37-45% of the property.
Thanks so much for any help. Dixie