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Asked by Sue, 85204 Wed Jan 28, 2009

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Answers

10
Billy Burke,…, , Rancho Mirage, CA
Wed Jan 28, 2009
Sue:

Two things:

First of all you made the mistake of assuming the real estate agent worked for you, when they were actually sellers agents.

Second you do have a form of a contract for deed or land installment contract that requires a court order to evict you from the premises.

If you can stay until you sell or find another place that is your best bet.
1 vote
Billy Burke,…, , Rancho Mirage, CA
Wed Jan 28, 2009
Sue:

Did you purchase the property using a land installment contract or a contract for deed?

If so you have a lot more legal rights than the seller and agent who worked for the seller want you to think.

You can contest this in court and they *MUST* obtain a judicial decree to evict you from the property or they might be spending some time in pink with your Sheriff Joe!

The cost to a seller of obtaining a judicial decree is usually much higher than a typical foreclosure but people who use these contracts prey on the ignorance of the borrower and get them to sign a release or to vacate the property without contest.

You need to secure competent legal advice to walk you through the process right away, but don't sign anything the seller/note holder gives you and don't move out until presented with a court order.
1 vote
Paul Welden, Agent, Scottsdale, AZ
Wed Jan 28, 2009
Hi Sue,

You need to contact a real estate attorney to assist you.

It sounds like you have a land contract, seller financing/carryback or a lease/rent to own contract. Without being your buyer's agent from the beginning when you "bought" this home, nobody here can give you advice other than to consult with a real estate attorney.

---
PAUL WELDEN
HomeSmart
Buyer's Agent
Web Reference:  http://CheapPhoenixHomes.com
1 vote
Under The Bus…, , 80202
Wed Jan 28, 2009
Given your situation, you should find this article interesting and informative:

Housing crash spawns big lawsuits
A flood of legal claims -- of fraud, discrimination, predatory lending and more -- has followed the sharp downturn in the real-estate market. Some borrowers are even seeking compensation for the hits to their credit ratings.

http://articles.moneycentral.msn.com/Investing/StockInvestin…
0 votes
Amanda Lopez, Agent, Lutherville, MD
Wed Jan 28, 2009
Sue,
Before you go ripping everything out, I would seek legal advice, because if you have a mortgage on the property, this can also be considered bank property and you could end in in even more trouble even though you put the improvements in there...
there is usually a clause in the papers you signed at settlement stating something along the lines of if you are going to foreclosure, you can not take out those items and trash the property.
just looking out for you, but be careful with all that...

i'm still a bit confused as to what kind of sale you are in or contract or if you own the home?
0 votes
Edith Karoli…, Agent, Winnetka, IL
Wed Jan 28, 2009
Sue, did this Realtor work for you or for the Seller? I am just truly disturbed by the sense I get how
distraught you are and rightfully so....
You should have been informed in detail and in writing what this 'agreement' contract was all about before signing it I feel for you and truly wish you all the luck in the world.... You do need to get to an experienced real estate attorney fast with all your paperwork.... There may be a good solution for you, and an attorney on your behalf is the only one who can guide you in the right direction.

Do not give up on the future.... Good luck and let us know once you talked to a good real estate attorney what your choices are.
I wish you all the best!
Edith
edithssellshomes@gmail.com
0 votes
Sue, Home Seller, 85204
Wed Jan 28, 2009
I trusted the realtor and closing company - something I will NEVER do again - oh well I know I can at least get some money out of the apliacnes and new doors and oak cabinets and everything else when I rip them out of the home before the place goes back

I am to the point now at age 50 that I REALLY dont care anymore - give me a double wide trailer and I am done - no more nice homes for me anymore - at least not big fancy ones
0 votes
Edith Karoli…, Agent, Winnetka, IL
Wed Jan 28, 2009
When you bought the property in 07, here are my questions to you...
Did you buy with a Realtor (your buyers agent, i.e. a Realtor who represented YOU in the finding of the property and the negotiations?) and did you have a Real Estate Attorney review the contract during the inspection and attorney approval period in the written contract?

If not, did you buy from the Seller directly i.e. a For Sale by owner situation?

Since at this point we really do not know what kind of contract you signed at time of "purchase" and who with we cannot really give you any kind of useful advice, except that you MUST take your signed contract / agreement immediately to an experienced area Real Estate attorney and when looking for an attorney make sure that they are experienced in area real estate deals. He or she will be the only ones who can read the contract terms correctly, advise you and then also represent you if necessary .....

For the future though when investing a large amount of money in any property purchase, always always make sure you have an attorney look over the contract and explain it to you in detail....

I wish you luck and hope that an attorney can represent you and help you because you had a really nice size down payment on the property and furthermore you put in a lot of improvements you certainly deserve to preserve that...

Make sure you get to an experienced attorney fast!
Good Luck to you!
Edith
edithsellshomes@gmail.com
0 votes
Temporarily…, , Tempe, AZ
Wed Jan 28, 2009
You should consult with a real estate attorney to review your contract and advise you on your options.
0 votes
Stew Keene, Agent, Scottsdale, AZ
Wed Jan 28, 2009
Sue,

You need to contact a real estate attorney immediately to get these questions answered.

It's probably your best defense at this time.

Stew Keene
Ph (480) 220-7491
Fax (866) 711-8573
StewKeene@yahoo.com
Keller Williams - Scottsdale, AZ
2008-2009 Master of Real Estate award recipient
0 votes
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