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Irwin Law
Irwin Law, Lawyer
Category: Real Estate Law
Satisfied Customers: 6774
Experience:  Lawyer- Broker 30+years - foreclosure, short sale, liens, title attorney.
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In 2008 I signed a contract to buy a house from We Buy Houses.

Customer Question

In 2008 I signed a contract to buy a house from We Buy Houses. The agreement was to give him a $3,000 down payment. $1,500 to move in and $1,500 within six months of moving in. Also get home insurance within 45 days. I did not give the $1,500 within six months. It also says that if I fail to pay the monthly payment, the seller may terminate the contract and I will become a tenant. Some payments were not made on time but I payed them and he excepted them. I am current on my monthly payments. It says nothing about not paying the $1,500 within six months. The seller says we are tenants at this time, but that we have options. I want to know from a professional what my options are.
Submitted: 5 months ago.
Category: Real Estate Law
Expert:  Irwin Law replied 5 months ago.
You didn't mention a total purchase price for the home, but that's immaterial until you offer it and are prepared to close. There's no doubt that WBH wants to sell you the home, but you can't do much without a written agreement that pins down the deal, and which you can take them to court to enforce if you have to. I suggest that you offer to rewrite your contract with WBH based upon the current status of a) how much you have paid to date towards the purchase price; b) an agreed-upon total purchase price, and c) a fixed time period for you to complete the purchase. This is not an easy subject to get your brain around if you are not a real estate pro yourself. A lot depends upon your current financial condition, credit standing, and probable future income in the years to come.I can offer you more detailed information on this subject if you agree to accept my offer of PREMIUM SERVICE which follows this.
Expert:  Irwin Law replied 5 months ago.
Hello again. Do you have a follow-up question? I am not an employee of Just Answer and I receive credit for assisting you based on your rating. I hope that you will enter a positive rating for my assistance here by clicking on 3, 4, or 5, for which there is no additional cost to you. Thanks again for using JUST ANSWER.

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