Our house went into foreclosure and then sold at sherriff's auction late last year. It sold for a bit more then we owed the banks. We expected to pay off everyone, then receive that money from the sale of the house, and start a new. The house was bought by a real estate investor. A few days after the house sold, we were informed that this real estate investor is suing us because he did not like the condition of the house, claiming that we intentionally vandalized the house. He is suing us for the exact amount that is owed to us after the house sold to repair damages. We did no such thing, we were forced to move in a very short time with no moving company to help. Has anyone been sued like this before?
We feel we have already lost everything.
2007-04-01 17:08:57 · 6 answers · asked by Anonymous in Business & Finance ➔ Renting & Real Estate
Consult an attorney every state has it's own real estate laws and it would be foolish to take advise from people that could be talking about a local with vastly different laws than yours. I will tell you this most attorneys will give you the first consult for free so write all your questions down and be sure to take notes when they answer. You may be wise to have the attorney handle the matter should it come up in court.
2007-04-01 17:15:00 · answer #1 · answered by QueenBean 5 · 0⤊ 0⤋
No. Because there's no contract between you and the real state owner. In a public auction, usually a buyer is aware of the pharse "as is, where is". Even if he claimed he's not, you are no longer a party to the sale. The contract of sale is actually was between the banks representative ( who acquired its right because of the foreclosure proceedings) and the real state investor . You are also right in saying that they should give you the amount in excess of your existing loan balance plus the interest or other charges. Again you are not a party to the sale, and the investment investor has no right to sue you.
For your refund from the proceeds of the sale, you must go directly to the said bank and ask for your refund. If oral demand is not sufficient, make a demand letter, specify in details the purpose of your demand, address to the bank's President. Put a deadline as to when you require them to reply. In that way, you have a strong evidence before even going to your lawyer to make a follow-up demand, or later sue them for taking advantage of the excess proceeds (that will fall under solutio indebiti) Enriching themeselves at the expense of the others. Goodluck.
2007-04-01 17:29:29 · answer #2 · answered by dondatu 3 · 2⤊ 0⤋
Fact is you can be sued by anyone for anything. With that said the chance of them winning is slim to none as the house was bought as is at the time of you leaving. Also house was not purchased from you but from the bank. I wouldn't worry about it and go have your day in court. Don't pay them anything till you go to court and let the judge decide. Also if you lose, which is unlikely, you will be able to make payment arrangements for the amount owed.
2007-04-01 17:15:37 · answer #3 · answered by scotty69nh 2 · 0⤊ 0⤋
I would hate to try to answer this one, however I would get a free consult and ask an attorney. He or she would know the answer. When it comes to all the legalities some states differ. Good luck!!
2007-04-01 17:17:35 · answer #4 · answered by goldie 2 · 0⤊ 0⤋
Be honest - you were pissed off and left the place with as much damage as possible. I guess that wasn't the best move.
2007-04-01 17:16:51 · answer #5 · answered by Anonymous · 0⤊ 1⤋
SURELY YOU HAVE AN ATTORNEY...
2007-04-01 17:28:42 · answer #6 · answered by cork 7 · 0⤊ 0⤋