I did sign an "agreement" stating that i can not sell it (or rent it out) within 2 years. I was told, although i did sign it, it is illegal for the builder to have me sign it. So there for, i guess i can sell it?
2007-03-14 09:19:19 · 3 answers · asked by thegurlnextdoor 1 in Business & Finance ➔ Renting & Real Estate
Often, your loan is based on a 2 year homestead residency. The builder is within the realm of legality to have you sign it, but you are NOT the first person in the history to have to move.
Call your local REALTOR and tell them your situation; they will know your loan and know the local barriers and HOW to negotiate you out of it.
2007-03-14 09:33:53 · answer #1 · answered by austin_texan 3 · 0⤊ 0⤋
"No resale" agreements are intended to protect the market against speculators, who would buy the property to try to flip it in a quick resale for a profit. If your circumstances have changed in such a manner that you must sell the property, you should be able to do so.
2007-03-14 09:29:53 · answer #2 · answered by Anonymous · 1⤊ 0⤋
I can't believe the builder made you sign that! what a croc!! What he was trying to do is to make sure that he got all his money. Go to a real estate agent, talk to them. They will be able to help. Be sure to show them what you signed, if they will sell it.. sell it.
2007-03-14 09:27:59 · answer #3 · answered by La Flaca 4 · 0⤊ 2⤋