QUESTION
seller defaulting on contract for deed
Asked on Nov 05th, 2012 on Breach of Contract - Alabama
More details to this question:
please help.....i have contract for deed....i am buyer....the person i am buying from has not made mortage payment in 6 months now the bank is going to forclose on him...what is my recourse i have paid all of my payments totaling 18,000.00 and only owe 8,000 more can bank take my property also....please help......the guy had enough nerve to ask me for another payment today even though he is not making payments and doesnt plan to do i have to give him my money...i have children and can not b homeless.The property is located in clay county in Alabama....please please help
1 ANSWER
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Your experience is one of the reasons why a contract for deed, improperly executed, may be a terrible idea for the buyer. You need the services of an attorney. See an attorney immediately
Answered on Nov 05th, 2012 at 8:21 AM