Real Estate Law
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We offered to pay all the past fees if she would just give us the deed in lieu of foreclosure and had our lawyer write it up accordingly. She also asked if we qwould do this on June 1st as this would release buyer from having to refund her tax rebate to the government. We agreed and wrote it up. All we asked was that the unit be returned with all like and kind apliances and left in good condition. She did not respond until today and said she was selling the refrigerator, washer and dryer and stove because she bought new ones. The contract shows ALL appliances turned over with the unit. She siad she was going forward with bankruptcy because she didn't believe that we would pay the past dues even though our lawyer wrote it up that way. We have instructed our lawyer to go ahead with foreclosure proceedings but do NOT understand why it has to go to auction and we have to bid on oiur own property. At this point we intend to sue for ALL damages, material, legal and otherwise and if we don't collect from the buyer herselfbecause of bankruptcy, can we go after the guarantor for ALL of this?
Are you saying if she files bankruptcy she gets to keep the condo?
Certainly, if she is not living in it, which she is not and has not since November 2012, (they are leasing it) we should be able to get it back?
How and when can we expect to get it back. I now understand the foreclosure, but does bankruptcy override and what happens with the foreclosure proceedings? I am very confused....We just want our property back...period. Stil lneed to understand our options. Help!
Are you still there? 10:11 EST
If we wait for the bankruptcy to close and then we proceed to foreclose are WE responsible of any of the fees incurred by her? Is there a lien on the property caused by her that we have to pay in order to get clear title? Which way do we proceed to get clear title on the property when we finally DO get it back.
We tried everything for deed in lieu of foreclosure, EVEN offered to pay the past due fees and they turned it down.