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Five acre property in question. It adjoins ours & "buyer."

Customer Question
Five acre property in...

Five acre property in question. It adjoins ours & "buyer." Buyer initiated sale & produced a contract, which we both signed. They have since seriously defaulted on the contract. We prefer to just have the property back w/o charging them anything additional. They have had full use of the property during the contracted time. Is there a quick way to resolve this w/o spending thousands of dollars???

Lawyer's Assistant: What steps has the buyer taken so far? Have they prepared or filed any paperwork?

They went to a lawyer, but changed their minds as they didn't have a lot of $

Lawyer's Assistant: Where is the property located?

Sibley MO Heritage Estates Tract A

Lawyer's Assistant: Anything else you want the lawyer to know before I connect you?

I don't think so

Submitted: 8 months ago.Category: Real Estate Law
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Answered in 1 minute by:
11/13/2017
Real Estate Lawyer: Ely, Counselor at Law replied 8 months ago
Ely
Ely, Counselor at Law
Category: Real Estate Law
Satisfied Customers: 103,582
Experience: Qualified attorney in private practice including business, family, criminal, and real estate issues.
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Hello and welcome to JustAnswer. Please note: This is general information for educational purposes only and is not legal advice. No specific course of action is proposed herein, and no attorney-client relationship or privilege is formed by speaking to an expert on this site. You may also be offered a phone call, but those don’t come from me and are offered by the website and you are under no obligation to accept.

That depends. Are you financing the purchase as the seller? Did you already sign over the deed to them? If so, did you leave a lien on the deed for the amount they owe you?

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Customer reply replied 8 months ago
Financing was by owner, no bank was involved. We did not sign over the deed.
Customer reply replied 8 months ago
No phone necessary.
Real Estate Lawyer: Ely, Counselor at Law replied 8 months ago

Thank you. Then assuming that they are in agreement, this should be easy. All the parties have to do is to sign a document that states:

1) The original contract for the land dates (x/x/xxxx) is now void; and

2) The property belongs to the seller.

Period.

Nothing has to be filed with the county since no deed was ever given to them to begin with.

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