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

    Dec 17, 2006, 09:31 AM
    Reposession Of A Property
    My faher sold a property in Washington States as is and the buyer gave him a down payment with the agreement that the buyer would pay off the property with in 3 months. At this point the buyer has possession of the property and has not paid anything else on the property. What are the steps to repossession of the property?
    Dr D's Avatar
    Dr D Posts: 698, Reputation: 127
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    #2

    Dec 17, 2006, 10:53 AM
    I certainly hope that your father had the buyer execute a note, that is secured by either a Deed of Trust, a Realty Mortgage, or a Contract For Deed. Each of these instruments has different procedures to effect a Foreclosure or a Forfeiture (in a Contract For Deed). I believe that your dad should consult a good real estate attorney.
    Cvillecpm's Avatar
    Cvillecpm Posts: 553, Reputation: 28
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    #3

    Dec 17, 2006, 10:55 AM
    Quote Originally Posted by dtcsakany
    My faher sold a property in Washington States as is and the buyer gave him a down payment with the agreement that the buyer would pay off the property with in 3 months. At this point the buyer has possession of the property and has not paid anything else on the property. What are the steps to repossession of the property?
    Get an attorney... Even Realtors who want "deals to work" know that allowing occupancy prior to closing is a BAD IDEA.
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