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  1. #1
    Theresa Guest

    Unhappy

    I am trying to find information on how to handle a situation, described below. I own 4 acres of land in Texas. I also owned the double wide sitting on the four acres. I sold the house to some people with a written contract for them to buy the land within a designated time frame, or move the house off the land after 30 days of defaulting on their contract to buy. I can evict them, but what about the double wide sitting on the property? If they don't move it, I will be forced to? I know I can sue them for the cost of moving it, but what are the repercussions of moving the house? Damage to the home, where to store it, how do they get it back? What can I get for my losses, including them defaulting on their contract to buy the land. Actually, I rolled some of the cost I asked for from the sale of the house into the land and let them assume my loan and payments with no real money being transferred between us. The monies were rolled into the sale of the land and they crapped out on the contract. I wrote the contract as a total price for house/land, I took the appraisal value I paid a private company to do, I listed the land at a specified amount in the contract and they signed. I have also contacted the mortgage company that is financing the mobile home to see what their stance is on this matter, they have looked the other way. Any advice on the best way to handle this? Or any place I can go online to find some legal info? Thanks, Theresa Smith

    [This message has been edited by Theresa (edited April 21, 2000).]
  2. #2
    Tracey Guest

    Post

    We don't have anywhere near anough info to answer your questions, Theresa. What remedies did your contract specify in the event of default on the house? On the land? Did you limit yourself to evicting their mobile? What happens if the house burns before the mortgage is paid? What if they move the house to OK, then default on the loan? You're still on the hook for the mortage!

    I'm sorry to say this, but I think your desire to save real estate agent commission and/or legal fees is going to prove an example of "penny wise, pound foolish." If you are extremely lucky, they'll keep paying the mortgage. If you're unlucky, they'll move it to parts unknown and neither you nor the bank will hear from them again.

    Take all your paperwork in to a real estate attorney and ask him/her what to do.


    Good luck

    ------------------
    This is not legal advice and you are not my client. Double check everything with your own attorney and your state's laws.
  3. #3
    Theresa Guest

    Post

    Tracey:

    Thank you very much for your response. In regard the mobile home, when I sold it I released myself from all liablity with the mortgage company.

    The contract with these folks was written as a total package price for land and house, which I broke down the costs for both since the home is being financed separately, it was a Lease to Purchase agreement with a clause to return the land in 30 days if they defaulted after the expiration of agreement. I probably have no recourse in recouping my loses on the sale of the house. They did not remove themselves from my land according to the 30 day return clause in the lease to purchase agreement after it expired and I gave them notice. The purchase of the home was contingent upon their buying the land from me outright, in one lump sum payment at the end of a specified time frame (or before) according to the Lease to Purchase agreement. They failed to purchase the land and all this information stated is contained in the Lease to Purchase agreement.

    Again, thanks for your help.
  4. #4
    Tracey Guest

    Post

    Well why didn't you SAY so?

    Did the agreement cover your remedy inthe event of default on the land purchase? You may be able to sue to quiet title to the house because they breached the contract. You'd get to keep most or all of the money they paid (it's considered fair rent for the house). You'd then be able to resell the house. Call a real estate attorney about whether this is feasible under your state's laws.

    ------------------
    This is not legal advice and you are not my client. Double check everything with your own attorney and your state's laws.
  5. #5
    Theresa Guest

    Cool

    Tracey:

    I'm not sure exactly what you mean by keep all they paid as fair rental fees. The monies for the house were paid directly to the mortgage company. I can't "keep" what I never had. But, can I "get" it is the question. I rolled the overage I wanted from the sale of the home into the sale of the property, which they crapped out on (take the house and run theory). I did however spell out in Lease to Purchase agreement that if they defaulted on the agreement, all monies paid to me for the land would be considered as rental fees only and would not be applied to the sale price for the land nor reimbursed in any way.

    I did not spell out a remedy in the contract other than if they defaulted, they would remove themselves from the land within a 30 day period after default. I also sent certified mail to this extent. So I figure I will have to evict them. I was mostly concerned about the house and what the heck to do with it. And if I can get back the house and they haven't trashed it, that would make me smile (since they place no value on their signature as a enforceable contract). I have told the mortgage company I might take the house back if they walk away from it and it is in good shape. But... if I can place some kind of lien on the house for the loss I took on the overall sale of the house/land due to their failure to uphold their contract, yeah yeah I say. I rolled about $7,000.00 from the loss on the sale of house into the sale of the land because I didn't require any real monies from them when they assumed my loan on the house. Creeps, trust not those bearing large smiles.

    I made an appointment with a Real Estate Attorney to check out all my options and you have given me some info to start with. I thank you very much for your help.

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