non performance of contract - Posted by Mike

Real Estate Investing
1

Posted by BrokerScott (Mich) on October 05, 2003 at 05:59:14:

This is a prime example of using something like “the best darn document” on the articles section. Get you survey NOW and see who is lying. (did it occur that the neighbor might want the lot for himself? )If you’re out a few hundred for that, at least you know for sure. Then there is a possibility of claiming adverse possition- states vary in their statutes, so find out. Finally, I hope you had some type of ‘weasle clause’ in you contract, so if the survey doesn’t pan out, use another excuse to get out of it. Finally, there is the possibility of forfieting your deposit and walking away. The seller would have to file a specific performance suit- atleast in Michigan- to make you complete the sale. Hope he wouldn’t bother. Best, Scott

2

non performance of contract - Posted by Mike

Posted by Mike on October 04, 2003 at 23:32:10:

I sign up a property to buy, (vacant land) and put $500 earnest money down. now I am finding that ( after I talked to a neighbor that the property lines aren’t where the seller told me, he had a survey done when he bought his property, and the fense is in the wrong spot. this drasticly reduces the value and am thinking about backing out . I didn’t have a survey condinginces in the contract. am I liable for more than my $500 or should I be able to get my $500 back. The seller is the type that will try to take me to the cleaners so I’d like to know where I stand. thanks