<BLOCKQUOTE><font size="1" face="Verdana, Arial">quote:</font><HR>Originally posted by henry rodriguez:
We entered a contract for deed as the seller of our home in Texas. In the contract it states that if the buyer defaults on a variety of issues (payments, home and fire insurance and the buyer had two years to refinance the house, or by July of 2000). The buyer has not made a payment for 6 months, but also has not had insurance or refinanced the home. The house is going up for foreclosure next month, but we are gathering the money to avoid the foreclosure. We do not have a attorney and need some guidance through this. First, what steps do we take to get the people out of the home? We have delivered a eviction notice giving them 3 days to move out. I think we need to write and send a default in Contract to the buyers. Is this contract void since they did not refinance the home within the two year period and they also have not made a payment for the last 6 months. It would greatly be appreciated if you can lead me in the right direction. Please feel free to email me at [email protected]. This is urgent, since we have given the tenants 3 days to move out and tomorrow is there third day. Thank you in advance!<HR></BLOCKQUOTE>
You need to hire an attorney since you really do not know what to do. First of all, you can not treat the occupants as tenants since your sales transaction falls under the Texas real estate laws and not the L/T laws. Therefore your 3 days tenant eviction notice is unenforceable.
Next, the Buyers were in default within the first month that they were delinquent in their contract monthly payment and the first day that they had no insurance. The Buyers default due to not refinancing is a moot point since they were already in default 6 months ago.
You needed to notify the Buyers that they were in default and that the contract has been terminated. Next you (and not the bank) needed to move to foreclose so that you can get the property back.
I hope you realize that you are on and remain on the mortgage. Therefore even if the Buyers did not make their payments to you, you are still liable to make payments to them. That is why the lender is foreclosing on you and has most likely sent negative notices to the credit reporting companies.
Do not treat these matters lightly. You have 3 days notice to hire a real estate attorney.
