Locating land buyer

[mcastr]

What is the name of your state (only U.S. law)? CA
Property is in FL, buyer was in FL when I bought from lot from him, he was in TX when he bought it back from me.

I paid him in one check for the FL lot. Several years later I needed money, I contacted him and he offered to buy it back. He was to pay me $220/month for 24 months, balloon due Jan 2009. He stopped sending checks July 2008, has not contacted me since. His phone says user not taking messages, email is bouncing, US mail says not found and can't be forwarded.
What should I do? He bought the lot from me for $25000, paying $5000 down, and has paid almost $4000 in payments. I have no way to contact him. How do I collect the amount due (probably around $18,000) or get the lot back so I can try to sell it again?

 

[JETX]

What should I do?

Simple answer... locate him.
How?? Depends. Use the information you do have. If not sufficient, consider hiring a local PI to locate.

 

[mcastr]

Local PI?

Simple answer... locate him.
How?? Depends. Use the information you do have. If not sufficient, consider hiring a local PI to locate.

Should I use a local PI? Or one from Texas, where we has last located? Or one in FL, where the property is located?

If I cannot locate him, what form do I use to get the property back in my name?

Marcus Castro

 

[seniorjudge]

Q: If I cannot locate him, what form do I use to get the property back in my name?

A: You need to carry all the documents you have on this transaction to a real estate attorney to find out your remedies.

 

[Some Random Guy]

If I cannot locate him, what form do I use to get the property back in my name?

You mean that you gave him title to the property even though he was still making payments on it? Do you have a legally recorded mortgage that you will be foreclosing on? You definitely need a lawyer here.

 

[mcastr]

WHat I gave him

I have a copy of REAL ESTATE SALES DISCLOSURE TO PROSPECTIVE BUYERS - CONTRACT FOR SALE OF REAL ESTATE ON THE FOLLOWING TERMS AND CONDITIONS.

It onlys sales price location, amount $25,0000, Deposit $5,000, out of down payment buyer is to pay outstanding taxes so I got a check for $3530.68. Interest is 6% P&I with no prepay penalty. After 2 years, a balloon pmt becomes due of unpaid balance. Monthly pmts od $220.04 to commence after 30 days.

The problem is that I can locate my notarized copy but can't find the notarized one he sent me. Does that mean I am SOL?

Marcus Castro

 

[seniorjudge]

Question:

I have a copy of REAL ESTATE SALES DISCLOSURE TO PROSPECTIVE BUYERS - CONTRACT FOR SALE OF REAL ESTATE ON THE FOLLOWING TERMS AND CONDITIONS.

It onlys sales price location, amount $25,0000, Deposit $5,000, out of down payment buyer is to pay outstanding taxes so I got a check for $3530.68. Interest is 6% P&I with no prepay penalty. After 2 years, a balloon pmt becomes due of unpaid balance. Monthly pmts od $220.04 to commence after 30 days.

The problem is that I can locate my notarized copy but can't find the notarized one he sent me. Does that mean I am SOL?

Marcus Castro

Answer:

Q: If I cannot locate him, what form do I use to get the property back in my name?

A: You need to carry all the documents you have on this transaction to a real estate attorney to find out your remedies.

 

[mcastr]

Thanks, I have contacted a real estate lawyer.

Marcus

 

[HomeGuru]

Thanks, I have contacted a real estate lawyer.

Marcus

**A: you have some serious issues, one of them being you have no idea what state you are in.

 

[mcastr]

**A: you have some serious issues, one of them being you have no idea what state you are in.

Yeah - I'm in CA, he was in TX, and the lot was in FL. I had no idea where I had to get a lawyer.

Marcus

 

[HomeGuru]

Yeah - I'm in CA, he was in TX, and the lot was in FL. I had no idea where I had to get a lawyer.

Marcus

**A: yes, I would be confused also.