Home Selling in 48174>Question Details

Beth And Ron…, Home Buyer in Romulus, MI

WHAT OPTIONS DO YOU HAVE WHEN YOUR LAND CONTRACT IS UP ,CAN YOU GET ANY MONIES BACK IF LAND CONTRACT HOLDER REFUSES HOME BUYER OFFER? IT IS VA ?THANKS

Asked by Beth And Ron Saelens, Romulus, MI Sat Jul 9, 2011

va WILL NOT GO AS HIGH AS LAND CONTRACT HOLDER WANTS,, ARE WE ENTITLED TO ANY MONIES BACK,,, WE HAVE BEEN IN THE HOME FOR TWO YEARS COME DECEMBER, THANKS, WE NEED TO KNO IF WE MUST HIRE REAL ESTATE ATTORNEY OR NOT AND WILL OR IF IT WILL HELP..
ALSO REALTOR AND LAND CONTRACT HOLDER SOLD MAIN ROOM WITHOUT CLOSET AS FULL BEDROOM AND THIS IS AGAINST MICHIGAN LAW,, OH SO DOES THAT MAKE IT FRAUD OR LAND CONTRACT VOIDED DUE TO FRAUD OR POSSIBLE HIDING ISSUES.. REALTOR AND LAND CONTRACT HOLDER SHOULD KNOW , i KNOW/ WHAT AND ANY ADVICE VERY HELPFUL,, URGENT NEED TO KNOW NOW.. THANKS

Help the community by answering this question:

Answers

3
BEST ANSWER
Beth & Ron,
You will likely have to contact an attorney. You bring up many issues which can't be sorted out here such as fraud. Your contract should have the terms and conditions you agreed to and I would start with that document. Understands what it actually says, because sometimes we read what we want to believe a contract says.
One thought, if adding a closet will satisfy your lender, it may be cheaper than your legal fees to pursue this and attempt to get your money back.
0 votes Thank Flag Link Sat Jul 9, 2011
good afternoon beth and ron....gather all of the real estate and land contract docs you have for the purchase and find a great real estate attorney....
although most land contracts and rent-to-owns are written with the best of intentions..i have rarely seen any of them be an ultimate win-win for both sides....
there is typically a "can't satisfy" condition that has no escape provision to cover a possible future problem..
without even looking at the docs, i would assume a great real estate attorney could probably find something you could use to hold the deed holder accountable for something that was overlooked, not dosclosed, or some way of helping out your cause....i would be glad to refer one to you...please understand, that you still may be emotionally or financially satisfied even after you persue remedy...
i hope that helps.
best regards....
bob mcclure
percentPlus
Web Reference: http://www.percentPlus.com
0 votes Thank Flag Link Sun Jul 10, 2011
I'm assuming that there was a purchase price on the Land Contract when it was written? If so, those are the terms you agreed upon at the time. The land contract holder is under no obligation to accept less than the agreed upon price on the land contract. How long of a land contract did you sign? Has there been an appraisal on the property? In regards to the issue about the bedroom, you knew when you bought the property that the main room did not have a closet. If you want furter advice please contact a real estate Attorney, they can best advise you of your legal rights.

Good Luck,

Karen Paytas, GRI, CMS
Realtor
Real Living Kee Realty
586-709-8465
kpaytas@mirealsource.com
0 votes Thank Flag Link Sat Jul 9, 2011
Search Advice
Ask our community a question
Email me when…

Learn more

Copyright © 2015 Trulia, Inc. All rights reserved.   |  
Have a question? Visit our Help Center to find the answer