Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
his buyer wanted to back out at the last minute and they were going to sue to keep the down payment.
the buyer made up a list of crap and said he was filing a lien until a judge decided the fate. my neighbors attorney told him this guy got good advice because anyone who you claim owes you money you can file a lien on.
all liens had to be disclosed in the contract so at that point it was going to be near impossible to get a buyer to commit. it could take months or longer to finally get to court.
there is a technicality here that keeps the person who is filing the lien from first having to have secured a judgement because the down payment represents money in the property.
im not to clear on the reasons it bypasses the judgement , i can only say it does until its decided by a judge as to whether the lein stays or goes .at least in our state..
Last edited by mathjak107; 12-30-2011 at 12:52 PM..
contracts are only as good as the attorneys knowledge on the other side of the coin. there are ploys and loopholes for everything. its all a question of how smart the attorneys are.
ill give you an example: when i got divorced my ex wife decided she couldnt afford the apartment she took and wanted to break a lease with a year and 3 months left.
the management office told her she will be held to the lease until a tenant is found and if they rent for less she is on the hook.
my son is an attorney although he doesnt do real estate ,but a very knowledgable real estate attorney buddy told him what to have his mom do.
my ex wrote a letter a few months prior notifying them she would be surrendering her keys on such and such a date and where to mail her security deposit. she mailed it certified.
she heard nothing from them back.
when the day came she dropped the keys off and the office women took them back.
well 3 months later she gets a bill for 3 months rent.
my son told them under ny operation of law they accepted her terms of surrender.
they wrote back bull-shI&. they said they never heard of such a stupid thing.
well they checked with their attorneys and yep they blew it by not refusing her terms of surrender. by not out right refusing her terms of surrender they accepted them.
the point is there are ways to get out of most anything if your lawyer is shrewd enough.
Last edited by mathjak107; 12-30-2011 at 12:55 PM..
In Oregon if a buyer backs out without the use of a contingency, the earnest money is the sole damages per our contracts.
According to some posters, a contract, letter sent, etc. might well make this not so, not even in OR.
Sorry to say, but quite often the real question is how far ($$$$$$$$$$) is one willing to go...LOL
Last edited by accufitgolf; 12-30-2011 at 05:46 PM..
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
