Home sale gone south
Three years ago I sold a mobile home with property. Contract was drawn with lawyer office and real estate agent. The contract was for three years approx. $700.00 monthly payment and a $70,000.00 final payoff at end of three years. Now the buyer cannot get financing and wants to walk away. The buyers name is on the Bond for title with mine. What course of action can I take. I have been told that a judge will not hold the buyer responsible if I pursue legal action. If the house goes into foreclosure who will be held responsible? What should I do, legal action or cut my loses?
Re: Home sale gone south
All of your rights, choices and what you can and cannot do are dictated by the writen agreement(s) you have with the buyer. The only way your questions can be answered is by a careful review of those documents. The best thing you can do is have an attorney review what you have and advise you. These agreements can vary and there is simply no way of advising you without seeing these.
Robert Johnston
Law Offices of Robert J. Johnston
P.O. Box 15035
Surfside Beach, SC 29587