Posted on: 17th Dec, 2008 07:55 am
I sold a home on a carryback/lease and the buyer is now 33 days late on payment... what can I do?
what are the contractual terms of your carryback/lease? that should give you a pretty good idea of what you need to do.
if you had legal advice in putting the deal together, it would probably be beneficial to seek additional legal advice from the same source for this situation.
if you had legal advice in putting the deal together, it would probably be beneficial to seek additional legal advice from the same source for this situation.
Hi swift,
In my opinion you should contact the buyer and see why he/she is not paying the mortgage dues. Check out the the agreement that you have with the buyer as George has said. I think the terms and conditions will be specifically mentioned in that agreement regarding the non payment of the mortgage dues. You will have to act according to the agreement and also take some expert advice.
Thanks
In my opinion you should contact the buyer and see why he/she is not paying the mortgage dues. Check out the the agreement that you have with the buyer as George has said. I think the terms and conditions will be specifically mentioned in that agreement regarding the non payment of the mortgage dues. You will have to act according to the agreement and also take some expert advice.
Thanks
