agreement of sale

[legalcmb]

What is the name of your state (only U.S. law)? Hawaii

I have an agreement of sale for a property in which the Vendor is carrying a mortgage. The vendor has several other properties which I have just found out he is in default. I have put $48,000 as a down payment. Can this property have a lien placed on it due to the vendor's inability to pay on his other properties? What about my down payment?

 

[JETX]

Can this property have a lien placed on it due to the vendor's inability to pay on his other properties?

Can it?? Of course it could.

What about my down payment?

What about it?? What does your purchase agreement say as to the down payment if default?? Who has your down payment?? Hopefully, it is in an independent escrow and not in his pocket.

 

[legalcmb]

what should I do next? How can I protect my investment?

 

[JETX]

what should I do next?

Read and understand your purchase agreement.

How can I protect my investment?

Start by talking with a local attorney.

 

[HomeGuru]

Great advice.