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The purchasers of my farm in Washington state have fallen 6

Resolved Question:

The purchasers of my farm in Washington state have fallen 6 months behind on their monthly payments. They also have not kept current on property taxes as required by the contract. For the last two months they have assured me that they will catch up all the taxes by the end of June and start making monthly payments again in July. Last week they only offered enough money to catch up the 2009 deliquent property tax ($693.55).
They still owe 2010 taxes and $10,560.00 in back monthly payments. What are my legal options? Foreclosure due to breach of contract? The purchasers said it would take at least 6-9 months for me to remove them from the property and I would then have no chance of regaining any money. Thank you for your advice. BM
Submitted: 4 years ago.
Category: Real Estate Law
Expert:  Roger replied 4 years ago.

If you have a promissory note and deed of trust for the loan, you can foreclose on the property.

 

If you have a contract that has been breached, you can file suit to receive a judgment and recover the property.

 

Either way, you'll end up with the property due to their failure to pay. You should see an attorney about what rights you have - depending on what documents you have executed from them.

 

 

Customer: replied 4 years ago.

Someone told me to "dissolve/nullify the contract due to breach of contract"? then proceed with eviction steps. I have never heard of this. Is this actually done?

Expert:  Roger replied 4 years ago.

I have never heard of doing that either. It makes no sense to dissolve or nullify the contract. If you do that, I think your lose your rights - you're withdrawing from the contract due to the other party's breach.

 

I wouldn't go this way.

Customer: replied 4 years ago.

Just one more question. Is forfeit the same as nullify? There is wording in the contract which talks about seller's right to forfeit under RCW 61.30 ...seller shall be entiled to possession of real estate which may be enforced under provisions of RCW 59.12.

 

It looks like the buyers knew the law when we signed the contract. I lose $ and I'll have to spend $ to catch up the taxes and recover the property. Another hard lesson learned in trusting people to be honest and responsible. Thanks for your help. Appreciate it.

Expert:  Roger replied 4 years ago.

No, forfeit is not the same as nullify. Forfeit is to quit; nullify is to void something.

 

You should see an attorney about recovering the property and your money due. Usually, you're entitled to recover costs of collection/attorneys fees.

Roger, Lawyer
Category: Real Estate Law
Satisfied Customers: 27213
Experience: BV Rated by Martindale-Hubbell; SuperLawyer rating by Thompson-Reuters
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