What should I do if I am buying a home on land contract from the owner but ow the owner and I are in a dispute over payments?
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What should I do if I am buying a home on land contract from the owner but ow the owner and I are in a dispute over payments?
I am buying a home on land contract from the owner. I have paid $12,500 on the back of the note to reduce the interest. I have paid $1,600 on the front of the note so in case I ever had to miss a note for any reason I would not be behind in payments. When I agreed to purchase this home, the owner did not disclose to me that the home had black mold, asbestos siding, or that it had lead paint inside the home. I have had work done to the home to remove the mold and have had as much of the lead paint and asbestos removed from the home as possible. Now due to financial difficulties, I have missed 2 house payments ($400 each) and now the owner is trying to have me evicted for breach of contract and refusing to refund any money that I have paid extra towards the home. I only owe $4,771.26 on the house yet the owner is saying I owe $10,995. I have all the documentation to prove what I have paid. How is the best way to resolve this issue and avoid eviction without going to court?
Asked on December 21, 2011 under Real Estate Law, Arkansas
Answers:
FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney
Answered 13 years ago | Contributor
The best way to try and resolve the situation you are in on the lease option to buy is to sit down and discuss the situation with the seller landlord as to what payments you have made, what unanticipated costs you incurred due to the undisclosed mold issue and what the balance left is owed not taking into the additional unanticipated costs incurred in an attempt to resolve the problem informally.
If you are unable to resolve the dispute in an informal manner, most likely you should consult with an experienced real estate attorney about the possible breach of contract by the landlord and the best way to try and resolve the dispute.
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