Posted on: 09th Jul, 2010 12:11 pm
information
Location-Oregon
300K Land contract - no home
173000 Balance
Annual pmts of 25000
used SN form 704
Buyer Now 20 days late, what would be the process for forfeiture?
Does buyer get to redeem, and for how long?
Does it require court action.
How long to complete?
Location-Oregon
300K Land contract - no home
173000 Balance
Annual pmts of 25000
used SN form 704
Buyer Now 20 days late, what would be the process for forfeiture?
Does buyer get to redeem, and for how long?
Does it require court action.
How long to complete?
Hi fabgr,
As there is a contract between you and the buyer, you will find the forfeiture terms and conditions mentioned in that contract. Whether or not the buyer can redeem the property will also be mentioned in that contract. If you cannot understand the right process to foreclose the property, then you can get in touch with an attorney and take his opinion in this matter. He will go through the land contract and will help you in deciding the right course of action.
Thanks
As there is a contract between you and the buyer, you will find the forfeiture terms and conditions mentioned in that contract. Whether or not the buyer can redeem the property will also be mentioned in that contract. If you cannot understand the right process to foreclose the property, then you can get in touch with an attorney and take his opinion in this matter. He will go through the land contract and will help you in deciding the right course of action.
Thanks
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