QUESTION
Owning money on a house from private sale
Asked on Jul 07th, 2017 on Real Estate - Pennsylvania
More details to this question:
I am a tenant I signed a a rent to own agreement for $900 a month with purchase price being $215,000 to 230,000 depending on value of home. At buying and closing house value was 205,000 got loan from bank and paid with $5,000 seller assist. A promissory note was created but never signed for $15,000 I paid $5,000 back and have a remaining $10,000 to pay. Am I obligated to pay?
1 ANSWER
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Well it sure sounds like you have some type of agreement, whether in writing or not. Is there an enforceable loan agreement here? Perhaps. Oral agreements are enforceable under many circumstances. Proof is usually the problem. Is there a "moral" obligation here? Only you can decide.
Answered on Jul 12th, 2017 at 7:24 AM