Legal Question in Real Estate Law in Michigan

I have a land contract on a house I sold in state of Michigan, and the buyer is giving me a hard time with the balloon payment. he made his last payment on 02/25/20 in the 3 year contract and a balloon payment was due in March 2020 and he is not paying and asking for 3 to 4 weeks extension because he listed the house for sale and the deal is not done. What do I do now

Asked on 3/25/20, 3:17 pm

1 Answer from Attorneys

Timothy Klisz Klisz Law Office, PLLC

You can move to forfeit or foreclose on the land contract. It may cost more to do that than waiting or further negotiating. I’d be happy to discuss this with you. Call me at (313)402-0853

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Answered on 3/25/20, 3:27 pm

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