Bronchick Installment Land Contract Help - Posted by Alan

Posted by William Bronchick on June 30, 2005 at 19:50:26:

Depends on how your ILC is written. If you used mine, yes, he’d be in default just on the two payments. I would call it due, the proceed to court.

Bronchick Installment Land Contract Help - Posted by Alan

Posted by Alan on June 30, 2005 at 19:45:20:

If the Purchaser does not comply with the following items listed in the installment land contract, doesn’t that constitute default?

  • Missed two installment payments
  • Purchaser does not comply with the Occupancy Clause
  • Complete HOA violations
  • Pay HOA Fees
  • Purchaser agrees not to discuss any matters with holder of the indebtedness securing the underlying loans

If Purchaser in default then can’t Seller accelerate and require ALL unpaid principal and all interest payments on that amount due? Thank You, Alan