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 Hog Tie My Mojo
Posts: 4847
   
Location: Opelousas, LA | Anyone ever had to do this before? It looks like we are heading that direction with our place we sold in Texas. Any advice on what to do or not to do would be very helpful.
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  Damn Yankee
Posts: 12390
Location: Somewhere between raising hell and Amazing Grace | I know nothing but hugs because it sounds like a headache :( |
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 Livin in the Dinosaur Age
Posts: 1993
Location: the other T-town, Oklahoma | Get a good attorney in the county your property is in, and have extreme patience and don't get in a hurry. I sent you a pm. I hope TX lawa are better for the sellers/landlords than OK laws are. |
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 Fact Checker
Posts: 16575
Location: Displaced Iowegian | punkypower - 2014-05-12 12:32 PM Get a good attorney in the county your property is in, and have extreme patience and don't get in a hurry. I sent you a pm. I hope TX lawa are better for the sellers/landlords than OK laws are.
^^^^ THIS......... PM Red Raider here (BHW) and see if she can suggest an attorney for you. |
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 That's White "Man" to You
Posts: 5515
| Pray that they dont file bankruptcy. If they do they can stay in your house and there isn't anything you can do until the bk is discharged. Could take a year or more. |
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Hog Tie My Mojo
Posts: 4847
Location: Opelousas, LA | Whiteboy - 2014-05-12 2:46 PM Pray that they dont file bankruptcy. If they do they can stay in your house and there isn't anything you can do until the bk is discharged. Could take a year or more.
The buyer is not living there, just holding match races, 300 people every other weekend, taco stand, loud latino music and the occasional horse dumping the rider and going thru the fence. Oh, forgot to mention he moved a guy in to take care of the place and he is a sex offender. Nieghbors are thrilled with us, lol.
We do have a good atty., waiting for a call back from him on how to proceed. Thanks for the advice and hugs, not looking forward to this. |
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 Good Grief!
Posts: 6343
Location: Cap'n Joan Rotgut.....alberta | sorry if this sounds stupid................is he just renting the place (cant you just kick him out) and if he bought it (why is it your worry anymore).......im a bit lost...........lol m
i mean from the title it sounds like you financed the guy to buy your old place.........
Edited by mruggles 2014-05-12 4:34 PM
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Hog Tie My Mojo
Posts: 4847
Location: Opelousas, LA | We sold our place in Texas and we financed it, he is making (or was making) payments to us. The payments have stopped, he has paid no taxes and he won't return our calls or texts. Now he has listed it for sale on facebook and I am praying he sells it and will have to pay us off to get a clear title. |
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Livin in the Dinosaur Age
Posts: 1993
Location: the other T-town, Oklahoma | Even if you are just "renting" it, it isn't as easy as just saying get out and they leave. We just went through this and our deadbeats (can't type on this forum what I really want to say) were able to stay there 9 months rent free, took that long to go through the legal process. |
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 Extreme Veteran
Posts: 473
| So it isn't paid for yet and he has the title?
I thought that they didn't get the title until it was paid for? |
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Hog Tie My Mojo
Posts: 4847
Location: Opelousas, LA | AfleetEquine - 2014-05-12 5:02 PM So it isn't paid for yet and he has the title? I thought that they didn't get the title until it was paid for?
He does not have the title, does not stop him from listing it for sale though. We are lienholders (sp) so we have to get paid in full before any one else gets the title, which is why I'm hoping he sells it. |
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Hog Tie My Mojo
Posts: 4847
Location: Opelousas, LA | punkypower - 2014-05-12 4:52 PM Even if you are just "renting" it, it isn't as easy as just saying get out and they leave. We just went through this and our deadbeats (can't type on this forum what I really want to say) were able to stay there 9 months rent free, took that long to go through the legal process.
No joke, seems that even squatters have more rights than property owners sometimes. |
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The Advice Guru
Posts: 6419
| Get a lawyer, as if he hasn't made his payments, you should be able to reposse (sp) the property. |
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Extreme Veteran
Posts: 473
| You can also make his life HECK. Force him out type thing. Not suggested, but possible.
He could also sell the place for less than he owes you on it?
I hope it all works out for you! Seems like a rough spot! |
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Expert
Posts: 1255
| My old boss had renters that wouldn't pay and she couldn't just kick them out she had to take them to court and they set a date for ten months latter I felt so sorry for her because she was an older lady. |
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| Your being the lienholder means you have sold it to these people and they are behind on their payments. The best thing that could happen is they don't pay their taxes and it is put up at a sheriff's sale to be sold. Just make sure you are there to put in the first bid which would be the balance of the lien and any taxes owed ... and hope someone else bids it up. In essence all this sale would cost you is the back taxes and penalties and you would end up with total control as the owner again. If taxes are overdue ... keep your mouth shut and hope a sheriff's tax auction occurs ...
Fire whoever wrote up the original contract .. they put you in a bad situation since payments are overdue and the difficulty of removing someone that does not want to leave.
*******************************************************************
CONTRACT FOR DEED IS YOUR BEST FRIEND ON OWNER FINANCING .. and a very specific paragraph that reads.... Buyer and Seller agree if Buyer becomes delinquent on monthly payments for two consecutive months this contract for deed is void and the buyer automatically becomes a rental tenant with no monetary accrual or reimbursement for any of the time the contract for deed was active. Upon notification by Seller of payment delinquency the Buyer/Tenant agrees to vacate the property within 30 days after notification of payment delinquency.
*******************************************************************
Lawyers are not there to protect you the owner ... they are there to leave loopholes in contracts for future litigation which means money in their pockets!!
It always astounds me that people will not make payments on homes or cars which is a daily need in order to live and keep a job. Yet, they will move to a rental apt or house that is more expensive than the payments on their previous home and buy another car at horrible high interest or even lease one with another huge price attached to it ... and think they are geniuses ... lol ... (meanwhile they were blowing the money for these two items on trash items)
Meanwhile ... it might be in your best interest to offer to help the people move, pay a months rent somewhere else for them to sign whatever papers and a no challenge agreement.
GOOD LUCK ... |
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Industrial Srength Barrel Racer
Posts: 7268
| OMG - this sounds like a nightmare! Yes, I would be getting a lawyer - ASAP! |
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Hog Tie My Mojo
Posts: 4847
Location: Opelousas, LA | BARRELHORSE USA - 2014-05-13 1:54 AM Your being the lienholder means you have sold it to these people and they are behind on their payments. The best thing that could happen is they don't pay their taxes and it is put up at a sheriff's sale to be sold. Just make sure you are there to put in the first bid which would be the balance of the lien and any taxes owed ... and hope someone else bids it up. In essence all this sale would cost you is the back taxes and penalties and you would end up with total control as the owner again. If taxes are overdue ... keep your mouth shut and hope a sheriff's tax auction occurs ... Fire whoever wrote up the original contract .. they put you in a bad situation since payments are overdue and the difficulty of removing someone that does not want to leave. ******************************************************************* CONTRACT FOR DEED IS YOUR BEST FRIEND ON OWNER FINANCING .. and a very specific paragraph that reads.... Buyer and Seller agree if Buyer becomes delinquent on monthly payments for two consecutive months this contract for deed is void and the buyer automatically becomes a rental tenant with no monetary accrual or reimbursement for any of the time the contract for deed was active. Upon notification by Seller of payment delinquency the Buyer/Tenant agrees to vacate the property within 30 days after notification of payment delinquency. ******************************************************************* Lawyers are not there to protect you the owner ... they are there to leave loopholes in contracts for future litigation which means money in their pockets!! It always astounds me that people will not make payments on homes or cars which is a daily need in order to live and keep a job. Yet, they will move to a rental apt or house that is more expensive than the payments on their previous home and buy another car at horrible high interest or even lease one with another huge price attached to it ... and think they are geniuses ... lol ... (meanwhile they were blowing the money for these two items on trash items) Meanwhile ... it might be in your best interest to offer to help the people move, pay a months rent somewhere else for them to sign whatever papers and a no challenge agreement. GOOD LUCK ...
Thank You! That is awesome, IF we do this again that paragraph will certainly be in the contract, along with one about illegal activities while we are the lienholder.
How much notification will they give for a sheriffs sale? We are six hours away from the property. |
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Good Grief!
Posts: 6343
Location: Cap'n Joan Rotgut.....alberta | WOW....but why would you finance anybody...i wouldn't do this for my own mother let alone a acquaintance......
this just sounds like a nightmare....best of luck to you
m |
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Extreme Veteran
Posts: 596
Location: Somewhere in the middle of nowhere | Barnmom - 2014-05-12 4:10 PM punkypower - 2014-05-12 4:52 PM Even if you are just "renting" it, it isn't as easy as just saying get out and they leave. We just went through this and our deadbeats (can't type on this forum what I really want to say) were able to stay there 9 months rent free, took that long to go through the legal process. No joke, seems that even squatters have more rights than property owners sometimes.
What you are referring to is "adverse possession" and yes you are correct, they do seem to have more rights. We are going through this right now with property lines....seems current "person" thinks fence lines are more accurate than surveys. Ugh, people! |
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