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    stormiemedic's Avatar
    stormiemedic Posts: 1, Reputation: 1
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    #1

    Aug 16, 2007, 04:54 AM
    Contract for Deed Texas
    I have purchaced a home through a contract of deed or contract of sale through a corporation. I put $2500 down and have been making payments for a year of $972 per month to include insurance and taxes.

    I have fallen behind, 2 months, after losing a job. However I found a job and started making payments to him regularly of $500 per week to catch up. He has been in agreement with this... until now.

    He still has 2 checks of mine that he has not deposited! He told me verbally on the phone he would not accept any more payments and was filing eviction.

    My question is... can he file the standard Texas eviction on me or does he have to proceed with a process similar to foreclosure?

    TX eviction takes about 23-30 days and does not require the seller to accept payments and keep the contract. The foreclosure process does require him to accept my payments and gives me, from my understanding, 30-60 days to get caught up.

    This is important to me because I don't want to loose my house. I was in the process of getting refinanced through a bank when I lost my job. This man seems shady and from others in my neighborhood that have purchaced from him have told me horror stories of previous buyers.

    Please help! I am a single mom and I am stressing about this!! :eek:
    ScottGem's Avatar
    ScottGem Posts: 64,966, Reputation: 6056
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    #2

    Aug 16, 2007, 05:44 AM
    What does the contract say? Since this is not a rental lease nor a mortgage, you may fall between the cracks as far as the law is concerned. The contract, therefore, probably specifies what defaulting on the contract means. And that would govern.
    Fr_Chuck's Avatar
    Fr_Chuck Posts: 81,304, Reputation: 7692
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    #3

    Aug 16, 2007, 06:06 AM
    Most of the contract for deeds that I use state if at any time payment is in default, the contract converts to a rental. In that case you lose all equity in the home and become a renter I can evict. If this is included in this, it is possible for him to do that.

    Remember most people who sell on contract for deeds do so, because they want to take the house back and resell it, again and again, they make a lot more money on it. Some do it just to sell a house at higher than normal interest rates or just to help people out at times.

    Does he say he has those two checks, that may be part of the issue if he does not have them.

    All you can do is go by the contract and go to court and fight it.

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