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Ask Tina Your Own Question
Tina, Lawyer
Category: Real Estate Law
Satisfied Customers: 5436
Experience:  17 years of legal experience including real estate law.
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I am the owner of the property and signe the lease purchase

Customer Question

i am the owner of the property and signe the lease purchase option I owe to the bank more then purcha,purcase price I 0we $285000. lease purchase price was 200,000 down payment he pay me 100,000 down payment the balance he pay 100,000 in 3 years
i took 100,000 and invested in other business to hope will make enough money to cover bank loan bt seem like it is not what option do i have foreclosed the property
Submitted: 2 years ago.
Category: Real Estate Law
Customer: replied 2 years ago.
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Expert:  Damien Bosco replied 2 years ago.
Hello. I am here to try to help you with your question. I need some clarification first. Let me see if I understand the facts. You own property. You signed a lease purchase option with a buyer? I am getting confused as to who signed what and who owes what. Are you saying the buyer defaulted and you want to obtain a judgment on the loan and foreclose? Let me know so I can see if I can help you.