Tenant skipped town…need some advice - Posted by Dan (MD)
Posted by Dan (MD) on October 24, 2003 at 11:32:27:
Last month I got a call from a very desparate lady about 2 1/2 hours from where I live asking if I buy mobile homes…you gotta love this…she CALLED ME and basically said she was desparate. Anyway, she had a clear title, no real need for the cash (she bought it for her son who got evicted) and she just wanted to get rid of it. She initially wanted 18k cash, we ended up with 2k down, 5k in 1 year and another 5k in 2 years. My intent was to sell it like my other Lonnie’s and just use their payments to pay off the terms of the note.
The only draw back was that I had to move it (the park it was in was adament about it which cost me $4300) but I figured I could still make it work. Then I found a cash buyer about a week later and we signed the paperwork before the house was even here, the terms of the deal were 14k down and 14k when I get the lien released title from Oakwood. Well he gave me the first 14k three weeks ago, and of course Oakwood dragged it’s feet on the lien release (the lien was paid off three years ago, but the owners never got the release), I got the title today but this morning I got a call from one of the neighbors saying the tenant brought in a Uhaul last night and packed everything up and left…the rumor is he was involved in a local shooting at a bar and that he skipped town.
I haven’t been able to get ahold of him (not surprisingly) but I now have a title and nobody to pay the other half of the deal.
So if indeed he has skipped town, what do I have to do to reclaim the home? The way I look at it is that he has failed to keep his end of the deal so it’s null and void and I should be able to just take it back without any legal hassles? Is that true? or do I need to go in front of a judge…I have the title in my name still and now I have an empty home (btw the neighbor wants to buy it)
In an ideal world, I get to keep the 14k cash and I can resell it for another 5k down and get a very nice monthly stream out of it. Any legal problems with this? Obviously if the tenant comes back next month he’ll want his money back…how would I handle that? if he really was involved in the shooting then I don’t really want him pi**ed off at me.
How long do I have to wait before I can do anything?