Ask Me Help Desk

Ask Me Help Desk (https://www.askmehelpdesk.com/forum.php)
-   Real Estate Law (https://www.askmehelpdesk.com/forumdisplay.php?f=29)
-   -   Land contract (https://www.askmehelpdesk.com/showthread.php?t=232934)

  • Jul 1, 2008, 07:19 PM
    kilbaraberry
    Land contract
    I'm in a land contract that states it's a month to month landlord tennent relation does that mean I give him 30 day notice to leave and that's it?I can no longer afford the payments here and have to move
  • Jul 1, 2008, 07:22 PM
    Fr_Chuck
    Yes, in most, you will lose your down payment if you don't follow though with the contract, and the landlord would not be able to break the contract, if it is a real purchase agreement.
    But yes normally you should just be able to give a 30 day notice.

    In fact many sellers who do land contracts hope that you will, since many make their money re-selling the same property time and time again, keeping the down payment each time.
  • Jul 1, 2008, 08:08 PM
    George_1950
    Quote:

    Originally Posted by kilbaraberry
    im in a land contract that states its a month to month landlord tennent relation does that mean i give him 30 day notice to leave and thats it?I can no longer afford the payments here and have to move

    Just curious: how long was the tenancy to last before the tenancy became a sale? It sounds as though a 30 day notice is sufficient.
  • Jul 2, 2008, 06:00 PM
    kilbaraberry
    Actually its based on me being able to get financeing which I cant
  • Jul 2, 2008, 06:15 PM
    George_1950
    Quote:

    Originally Posted by kilbaraberry
    Actualy its based on me being able to get financeing which i cant

    It definitely sounds like a tenancy, with a 30 day notice. Is the landlord holding a security deposit? If so, just leave it clean.
  • Jul 2, 2008, 06:27 PM
    kilbaraberry
    It was 3000 (down payment)it hurts to lose it but if I stay ill lose more than I can afford
  • Jul 2, 2008, 08:59 PM
    George_1950
    Quote:

    Originally Posted by kilbaraberry
    It was 3000 (down payment)it hurts to lose it but if I stay ill lose more than i can afford

    Ouch!

  • All times are GMT -7. The time now is 06:39 PM.