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Property Leins

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L

lee1100

Guest
What is the name of your state? nh
I and my brother aquired my parents home by quit claim deed from our father.
we now want to sell the property and discovered with our own reasearch that there was some past leins of a substanial amount, that was on the title that they had incured. It also seems that when my mother died 15 year ago that a probate was never done, and leins from bills from her death. my question is i , we went to an attorney for help, with the agreement that his fees (which was stated to be from $X price to$xxx price plus the cost of any unknown cost of unexpected findings),would come from the sale of the property. Now he wants us to sign a morgage to him of the property and waive all right of homestead, and the sale price of the home must be a fair market apraised price and not what we may want to ask. also if the home doese not sell in the period of one year he can demand payment payable within 30 days or he may forclose on the property at that time.

Doese this sound like a fair legal practice? or are we signing away our property and rights? my first instinct is to run away:confused:
 


HomeGuru

Senior Member
lee1100 said:
What is the name of your state? nh
I and my brother aquired my parents home by quit claim deed from our father.
we now want to sell the property and discovered with our own reasearch that there was some past leins of a substanial amount, that was on the title that they had incured. It also seems that when my mother died 15 year ago that a probate was never done, and leins from bills from her death. my question is i , we went to an attorney for help, with the agreement that his fees (which was stated to be from $X price to$xxx price plus the cost of any unknown cost of unexpected findings),would come from the sale of the property. Now he wants us to sign a morgage to him of the property and waive all right of homestead, and the sale price of the home must be a fair market apraised price and not what we may want to ask. also if the home doese not sell in the period of one year he can demand payment payable within 30 days or he may forclose on the property at that time.

Doese this sound like a fair legal practice? or are we signing away our property and rights? my first instinct is to run away:confused:
**A: I take it you are not paying this attorney and want a contingency legal fee arrangement. If that is the case I deem the practice to be fair.
 
L

lee1100

Guest
what is a contingency fee? we had a agreement prior that his payment would come from the sale, it was his sugestion. then later he says that he would feel better if he was recived a morgage in his name without knowing what his bill will be in the end. i have to problem of him taking payment at time of the sale but for him to stipulate the sale price by apraiser in the contract seems extreem!
 

HomeGuru

Senior Member
lee1100 said:
what is a contingency fee? we had a agreement prior that his payment would come from the sale, it was his sugestion. then later he says that he would feel better if he was recived a morgage in his name without knowing what his bill will be in the end. i have to problem of him taking payment at time of the sale but for him to stipulate the sale price by apraiser in the contract seems extreem!
**A: the sales price would be based on appraised value and not an exhorbitant value that you may set causing the property to not sell. That is the main reason.
If you are not happy with the terms, fire this attorney and hire another one.
 

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