Bought a condo in Perdido Key FL. 32507 in 07/15/17 using seller financing (61/4% interest only) for 12 mos. When the yr. was up and we didn't have permanent financing in place the seller extended our interest only for 6 more mos. which ended in Feb. We have not paid anymore interest since that time as we have been trying to refi and have also put our condo on the market for sale. We just received an email from seller saying if we did not have problem resolved by 4/13/19 he was going to foreclose. Can he do that so quickly without formal notice etc?
1 Answer from Attorneys
Notice is not required (and you got it, in any event). If you do not pay as required, the holder of the note is free to begin enforcement/foreclosure proceedings.