What would you do ???

[BOSS]

Hmmm.....

I'm buying my house on a land contract, and "was" in the process of re-financing with the bank....

I know the seller had some leagal problems, that might have been leading to JAIL time (serious)...

Now his phone is disconnected, and mail is being rerturned....

Question... would you continue to send payments, and get them marked "Return to sender" or simply put the money into an escrow account and leave it sit?

Seems I don have the option to contact him any longer....

 

[Luc]

I would put the money in a escrow account for now, making your payment like usual. I would think eventually you will get a call from his lawyer to make arrangement for payment. This way you are covered. I would not chance sending it in the mail anymore, just in case things gets loss all of a sudden.
I also would call my lawyer for help on this.
Luc

 

[sunny]

Boss 2 questions , (1) if you have a mortgage on this property how was it approved without a title search, that would have given the seller clear title. I'm in the middle of refinancing now and its a headache of paper work just to get my ex to sign off . (2) does this guy have family that can come back on you and demand these payments at a future date or do you have the address of this guys legal rep who should be in contact with him.
If you can't get answers to that I'd put it in escrow just to cover your behind in the event that it becomes a SNAFU down the road.

 

[evergreen12377]

Check with a lawyer, putting into escrow MIGHT not be the answer.

Judy

 

[Blue Oyster Cult]

Boss, call Lansing and get ahold of the Michigan Bar Association...
Ask for a referal of a Real Estate Lawyer...you get 30 minutes of free advise...ask the experts it's Free.

 

[Frank]

I would recommend you seek legal counsel. Be sure to find an attorney that specializes in "Real Estate Law."

 

[BOSS]

Thanks folk.... will do Shel, soon as I get home from Florida.