Rademacher Team

"Thom, Nancy, Angela, Sarah"
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  • Keller Williams Realty
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Rademacher Team, Real Estate Professional in Hartland, MI
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Lou, Home Seller in Grand Rapids, MI

On the complaint for posses. after lnd contr forfeit form what does material breach of contract mean?

Asked Sat Sep 13 2008, 12:39 by Lou  -  Foreclosure in Grand Rapids  -  4 answers
Rademacher Team answered:
Lou,

A lack of payments and non-payment of taxes and insurance are a breach of the contract. When the buyer doesn't pay their monthly installments you will to start the forfeiture proceedings which allows the buyer to bring all the payments current. If they don't then you start the foreclosure process. The taxes and insurance can be paid by you and added to the balance of the contract.
I would contact the buyer and indicate to them that you are going to start the foreclosure proceedings and ask them if they would just quit claim the property back to you rather than both of you spending time and money in court. If that doesn't work, I would suggest that you contact a real estate attorney. - Sun Sep 14 2008, 10:51
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My Listings
10268 Colonial Ct, Brighton, MI 48114 10268 Colon…
$169,900
3 br  1½ ba  
2904 Charann Drive, Howell, MI 48843 2904 Charann…
$429,900
4 br  2½ ba  
522 W Bundy Ave, Flint, MI 48505 522 W Bundy…
$50,000
3 br  1 ba  
6400 Linden Rd, Fenton, MI 48430 6400 Linden…
$439,900
4 br  3½ ba  
1685 Dartmoor Drive, Howell, MI 48843 1685 Dartmo…
$170,900
3 br  2 ba  
80 Lake Pines Drive, Brighton, MI 48114 80 Lake Pin…
$425,000
4 br  3½ ba Listing Web Site
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