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    lzavala's Avatar
    lzavala Posts: 2, Reputation: 1
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    #1

    Mar 8, 2008, 08:49 PM
    Am I stuck in this contract?
    I signed a contract for deed about 9 months ago.the contract reads that I will pay the monthly payments for three years then get my own mortgage because of my credit, well the guy hasn't paid taxes on the house in 2 years and I can't find anything filed at the recorders office on the contract for deed we signed.can I back out of this deal with out getting sued or am I out of luck, he can keep the down payment I just want out.please help!
    Fr_Chuck's Avatar
    Fr_Chuck Posts: 81,301, Reputation: 7692
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    #2

    Mar 8, 2008, 09:14 PM
    What does the contract say

    I will note on all of the homes I have sold for contrct of deed the buyer would have been responsible for paying the taxes.

    Also as the buyer it was your responsibility not his to file your contract for deed at the courthouse.

    You have several possible things to do, if the contract shows him to pay the taxes you could pay them and sue him for the money back, protecting your investment.

    Again without reading your contract, in most "in general" yes you can default in the contract and walk away and he just keeps your deposit. Most contracts merely revert to a rental once they are in default.

    The other you may hire an attorney, sue him for performance ( to keep house taxes up) and put your payments into escorw though the attorney pending him meeeting his obligations.

    But just out of interest, have you called the owner and asked them what they intended to do?
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