What to do if we sold our home on a land contract but the buyers have stopped making payments and we found out that they haven’t been paying the property taxes/homeowner’s insurance?
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What to do if we sold our home on a land contract but the buyers have stopped making payments and we found out that they haven’t been paying the property taxes/homeowner’s insurance?
We sold it 1 1/2 years ago. What do you recommend that we do now?
Asked on December 10, 2012 under Real Estate Law, Michigan
Answers:
eric redman / Redman Ludwig, P.C.
Answered 12 years ago | Contributor
they are in breach. you neeed to make demand to cure whatever they have not been paying. they should have a certain amount of time to cure- per your land contract- if they do not sure you can file suit to either get the priroperty back of foreclose. states are different in this regard.
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