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Deckerville : Real Estate Advice

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Activity 5
Thu Sep 24, 2015
Dan Tabit answered:
You get an attorney to review it, find a way out and use it. Each contract has unique portions that must be considered in light of state law. It may be completely void if not properly written, but we can't know that. Find an attorney and ask them. ... more
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Thu Dec 4, 2014
Tim Moore answered:
Like Larry said, go see a title company or real estate attorney. You don't need to walk in with a check, the paperwork and title search will take some time to prepare, but you can get the ball rolling. ... more
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Thu Dec 27, 2012
Michael Delaware answered:
A land contract is a form of seller financing. You make structured monthly payments that consist of principle and interest, over time to a seller, and when the agreement is paid in full or you re-finance, depending on how the contract is written, you own the house. I wrote a Kindle eBook that is now available on Amazon to help people with this. It is called: Understanding Land Contract Homes: In Pursuit of the American Dream. You can find it here if you are interested: ... more
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Thu Oct 18, 2012
Ron Thomas answered:
As a rule; I warn BUYERS about entering into a LEASE/OPTION:
The pitfalls are many and deep.

In this case, you are the one who should have been aware:
It sounds like you do not have the Lease/Option in a CONTRACT?
Shame on you; doing something like this on a VERBAL AGREEMENT!

Is sounds like all three of you were trying to take advantage of the situation:
The Upstairs people will probably be without a place to live.
The Tenants will lose their place.
And you are going to lose a LOT!

Good luck and may God bless
... more
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Wed Feb 22, 2012
Doug answered:
As far as i know Steve. It sat empty for about a year maybe a little longer. Someone was renting before that for about a year. Before that the guy that owns it now. His mother owned it til she passed away. As far as a home inspection, no we didn't. I heard from so many people that these guys miss so much stuff. It was like throwing money out the window. The guy that owns it is half tanked by 2:00 in the afternoon. No reasoning with him. Not his house, not his problem he says. I thought there were laws to protect the home buyer. I don't even know what a sellers disclosure is. Our taxes never got changed to a homested yet. We keep fighting city hall about that. The seller never sent us a 1099 i think it is, so we can claim it on our taxes. Maybe he's not claiming our payments as an income. I don't know anything except, he is a crooked s.o.b. Thanks for your help Steve. ... more
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