My daughter and I purchased property in 2004 on a land contract deal. The contract was a 10 year agreement at $300.00 a month. I recently came home from work and found a sheriff sale notice on my door. The lady had taken a loan out on the property years before signing a sale agreement with us and failed to tell us this. The house was in need of major repairs when we moved in. Since then we have made improvements on the house. The sheriffs sale property is claiming a mortage company that has the morgtage on the is claiming $45,059.35 is owed on this house. This is $15059 more then our agreement is. My question is " How do I keep from losing my home?" (Sue)
1 Answer from Attorneys
So you didn't do a title search on the property? Why not? Your daughter signed up to pay $36,000 for a property when she didn't know whether the seller had a clear title. Nobody though it was worth an hour of her tme to check the land records at the recorder of deeds?
Well now she can sue the seller but she's not going to get to keep the property. I highly doubt that even getting a judgement against the seller will get her much either.