Can I decide to not sell property to buyer w/ a land installment contract in place?
The buyer is renting units out of the house w/ out my consent.
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Tags: Land Contract, Land Installment, Renting
sell property | , 26 Dec 09
By kemperk, December 29, 2009 @ 3:42 pm
IT all depends on the contract; usually, the seller, even in a land
contract, forgives ON SITE control.
if you wish me to answer more specifically, i need a copy of the
contract. no cost for my help
By Mr Placid, December 31, 2009 @ 2:22 am
No, you cannot.
By utreinvestor, January 1, 2010 @ 11:39 am
it will depend on the contract. if the buyer is renting the property without proper written authorization then they are violating the contract, which could be grounds for cancelling the contract. also, as the owner, those rents should go to you (if renting the property was not authorized).
however, before you get to carried away you do need to consult a real estate attorney. they can actually review your contracts and determine what you can do (or can’t do) in this situation.