Posted on: 22nd Jun, 2012 05:58 am
I live in America and sold some property in the Dominican Republic for $90,000.00.The purchaser put down $25,000.00 and agreed to pay $1000.00 a month until the total amount was paid. After 10 months I received a call saying he no longer wanted the property and when I resold it he would like his money back. I told him he will get nothing back. The property was sold and now he is calling to ask for the money. Do I have to give him his money back or did he lose it all when he called and backed out of the agreement?
Hi Larry,
If there is no such contract between you and him, then you may not be liable for returning him the money. Nevertheless, you can contact a real estate attorney and take his opinion in this regard. He will let you know whether or not you're liable to pay him anything.
Thanks
If there is no such contract between you and him, then you may not be liable for returning him the money. Nevertheless, you can contact a real estate attorney and take his opinion in this regard. He will let you know whether or not you're liable to pay him anything.
Thanks
Hi Larry!
Welcome to forums!
Unless there is a contract between you two, he won't be able to take any legal actions to place a lien. James is right in saying that you should contact an attorney and take his opinion in this regard.
Feel free to ask if you've further queries.
Sussane
Welcome to forums!
Unless there is a contract between you two, he won't be able to take any legal actions to place a lien. James is right in saying that you should contact an attorney and take his opinion in this regard.
Feel free to ask if you've further queries.
Sussane
Be sure the taxation has been compensated for the property you plan to purchase. This again is a loss of a life trap for international traders. The government of Dominican republic do not deliver any signs or cautions on overdue taxation.