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Tina
Tina, Lawyer
Category: Real Estate Law
Satisfied Customers: 5436
Experience:  17 years of legal experience including real estate law.
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We sold a house and the buyers didn't have much money. So,

Customer Question

We sold a house and the buyers didn't have much money. So, they paid some, then the rest $35,500 was to be paid over 10 years at 7% interest. The missed a payment last December. Can I use that as a reason to "call in the note" or to start proceedings to take back the house. I was advised by neighbors that the tenant moved out of the house on August 1st - and left the house trashed. It really makes me mad that he trashed the place, but the neighbors also told me that he neglected about 5 dogs to death in the interim. That is what really pissses me off.
Submitted: 1 year ago.
Category: Real Estate Law
Expert:  LawTalk replied 1 year ago.
Good afternoon,
I'm Doug, and I'm sorry to hear of the confusion. My goal is to provide you with excellent service today. In order to give you a clear and concise answer, I will need some additional information about the circumstances, please.
1. What sort of written contract did you have?
2. Did you already sign over the deed to the buyer?
3. Did you prepare a formal mortgage document with the right of foreclosure properly set out in the mortgage?
This seems like a very crucial matter for you, and your questions and issues suggest that an in-depth conversation might better suit your needs. If you are interested, I can offer you a phone conference as opposed to continuing in this question and answer thread. I will make that offer to you after I get this posted to your question thread. All you need do is accept the offer if you would like me to call. Let me know if you don't want a call and I can continue here.
Thanks in advance,
Doug

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