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Maverick
Maverick, Lawyer
Category: Real Estate Law
Satisfied Customers: 6084
Experience:  20 years professional experience
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We sold a house on a contract fr deed.payment was to be made

Customer Question

We sold a house on a contract fr deed.payment was to be made every thirty days with a 5day grace period.my son wants the house back according to contract 1 can take backhouse back after the 35 days.we paid an attnory500.00 to see that our interests are looked after.our attnory gave the other partys attnorney more time. the other parties attnory sent my son a nasty letter demanding this mess get cleaned up .my son contacted his attorney and was informed he needed to comeup with 10,000.00 cash for him to continue WHAT TO DUE
kelton feickert
Submitted: 8 months ago.
Category: Real Estate Law
Expert:  Maverick replied 8 months ago.

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Expert:  Maverick replied 8 months ago.

Kelton:

Answer: If your contract states that after a non payment past the 5 day cure date, the other party is considered to be in default and you can take the house back, then your son should be able to do that. The issue then becomes, HOW can he do that. More than likely the reason the lawyer is asking for $10,000 is so he can cover his fees to file a lawsuit to get a foreclosure judgment. However, there may be a non-judicial foreclosure clause in the contract that allows for a cheaper way to get the house back.

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