This a land contract in Ohio. I've only been in the house for four months. I was offered a job out of state and need to move. I need advice on how to handle the contract and what legal options I have.
2007-06-06 05:18:40 · 4 answers · asked by Anonymous in Business & Finance ➔ Renting & Real Estate
You can't get out of it. You need to just list it and hope it sells quickly. Who knows, you might actually make some money.
2007-06-06 10:53:31 · answer #1 · answered by Anonymous · 0⤊ 0⤋
First contact the Seller and ask if something can be mutually worked out. If not, you are bound legally to that land contract.
Typically, you will lose all of the $$ you have already paid to the Seller. Look for any other penalties for non-payment.
2007-06-06 05:25:46 · answer #2 · answered by thinking-guru 4 · 1⤊ 0⤋
Well, legally you can either just give it back to the seller and lose your money (down payment, etc.) or sell the property and pay it off. You may be able to work something out with the seller, maybe they wouldn't mind getting the property and being able to sell it and returning your money.
2007-06-06 06:31:57 · answer #3 · answered by artbyheather04 3 · 0⤊ 0⤋
Read the contract and see if there's anything in it to allow you to get out of it. Most likely you'll lose whatever dollars you've already put in.
2007-06-06 05:31:06 · answer #4 · answered by Judy 7 · 0⤊ 0⤋