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Freddie
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Freddie answered:
Fred,
Are you sure the buyers are being advised by an attorney. If they are and you are not I certainly would not take any advise from Realtors. Attorneys are not that expensive when we are talking about losing a property or having a foreclosure on your credit file.
I will not give you legal Real Estate advice as I can not as a Realtor. I will give you some run of the mill Truth in Lending advice - any contract that has the wrong information as to the payments and interest can be declared a paid up in full contract. Now do you see why you need an attorney.
We as Realtors in Texas are told not to do Lease purchase or Lease option contracts with out the assist of an attorney, therefore I think it would be very dangerous for anyone else to attempt to do so.
Good Luck
Margaret
Are you sure the buyers are being advised by an attorney. If they are and you are not I certainly would not take any advise from Realtors. Attorneys are not that expensive when we are talking about losing a property or having a foreclosure on your credit file.
I will not give you legal Real Estate advice as I can not as a Realtor. I will give you some run of the mill Truth in Lending advice - any contract that has the wrong information as to the payments and interest can be declared a paid up in full contract. Now do you see why you need an attorney.
We as Realtors in Texas are told not to do Lease purchase or Lease option contracts with out the assist of an attorney, therefore I think it would be very dangerous for anyone else to attempt to do so.
Good Luck
Margaret
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