Archive
22. July 2009: Assignment of Land Contracts - Releasing the Buyer's Responsibility
Question:"My husband and I are in a land contract for a house that we've been in for 12 years. We asked the owners if we could "walk away" and they said we would have to find someone to take over the land contract. We did that and now they've changed their minds. Is there any way we could walk away from the house without having any legal recourse? Will they be able to sue us? The deed is not in our name, it is not registered, and the notaries are expired on the deed. We just want to give the house back without legal action against us. What are your suggestions?
Rochele" ...More
10. July 2009: Purchasing a Bank-Owned Home
Question:"The banks are playing a game in an effort to get the most they can for their foreclosed homes. They list the home for a ''lower than they will accept'' price, in order to get a lot of traffic through the house, and multiple offers, sometimes with a second round of bidding. I have unsuccessfully attempted to buy 4 bank-owned homes, always offering the asking price or more. The last offer we placed equaled the asking price, but instead of accepting the offer, the bank rejected, and then lowered the price of the home $8,000, to get more people to come through the house and to get more offers. Is this legal? Can they NOT sell us the house when we are, at the time, the only one making an offer ... and we met their price? This feels like discrimination."