Posted on: 03rd Jan, 2011 07:58 pm
Buyer bought a house in Oregon and a Land Sale contract for $165,000.00 They put $20,000.00 down and made payments. The Seller kept making the payments to their finanace company for the balanced they owed which was $54,000.00.
Is this legal in Oregon and How does this work if it is?
Is this legal in Oregon and How does this work if it is?
Hi helicopterlift!
Welcome to forums!
It will depend upon the agreement that the buyer and the seller had between themselves. If the lender receives his payment on time, he won't come after the property.
Feel free to ask if you've further queries.
Sussane
Welcome to forums!
It will depend upon the agreement that the buyer and the seller had between themselves. If the lender receives his payment on time, he won't come after the property.
Feel free to ask if you've further queries.
Sussane
Hi helicopterlift,
Welcome to forum...
Basically I will consider this as a agreement between two parties, who are having mutual understanding and if any of the party fails to obey the agreement I won't think that court intervention is possible...
so I will consider it as illegal...
Samese
Welcome to forum...
Basically I will consider this as a agreement between two parties, who are having mutual understanding and if any of the party fails to obey the agreement I won't think that court intervention is possible...
so I will consider it as illegal...
Samese
Buyer is buying a home that Seller doesn't have the ability to convey and without warranty of title.
Seller is violating his note/mortgage with the Mortgage Holder with the land contract.
I wouldn't put down $20k for something that the other party doesn't have the legal right to sell me.
Seller is violating his note/mortgage with the Mortgage Holder with the land contract.
I wouldn't put down $20k for something that the other party doesn't have the legal right to sell me.