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Buyer didn't file deed and is MIA, what now?

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Latest post Tue, May 23 2017 5:08 PM by karen2222. 5 replies.
  • Sun, May 21 2017 3:25 PM

    • dobiedisco
      Consumer
    • Not Ranked
    • Joined on Sun, May 21 2017
    • TX
    • Posts 2

    Buyer didn't file deed and is MIA, what now?

    I owned a small lot in an old lake community that I sold 3 years ago due to health reasons and moving out of state. The buyer wanted to file the deed, because she worked in the same city as the county seat for the lot.  

    Last week, I received a call from someone wanting to buy the lot. They live in the community, have been helping with cleanup in the area, and advised there are squatters living on the lot. Apparently, this happens frequently there and they move from one lot to another. The pictures are disgusting, how they're living there with no utilities. It appears buyer never filed the deed or moved there with her fiance.  Taxes and HOA dues were never paid since the sale, although she told me she had been in contact with the HOA right after the sale.

    I have been unsuccessful in contacting her and in locating my copy of the deed - I had water damage at my home during hurricane storms and a lot of things were tossed out. The association is coming after me to evict the squatters and clean up the lot. The county tax office confirmed the lot is still in my name and I owe back taxes.

    What are my options? Thank you.

  • Sun, May 21 2017 5:27 PM In reply to

    Re: Buyer didn't file deed and is MIA, what now?

    dobiedisco:
    What are my options?

    Is this lot located in Texas, and if not, in what state is it located?  It would probably be good to know what the statute of limitation is on enforcing a contract to sell real estate, and that varies by state.

    My personal opinion is that this is too complicated and unusual a situation to handle without at least a consultation from a good real estate lawyer in the appropriate state, so you can know what the risks of selling the lot to a new buyer might be, and what if anything you can do to mitigate those risks, such as filing for quiet title.

    If you do sell to the new buyer, at least consider using a proper closing agent this time (in some, mostly Eastern, states this service is traditionally performed by a lawyer;  in other, mostly Western, states it will be a title company).  Ask the closing agent right at the beginning (before you sign anything) whether they need you to do anything about this problem before they can handle the new transaction normally.  Seems like it would also be a good idea to have the closing agent pay all the arrears out of the sale proceeds (if sufficient) so you can be rid of this tar baby for good.

     

  • Sun, May 21 2017 5:45 PM In reply to

    • dobiedisco
      Consumer
    • Not Ranked
    • Joined on Sun, May 21 2017
    • TX
    • Posts 2

    Re: Buyer didn't file deed and is MIA, what now?

    Tar baby, lol! Yes, it's in Montgomery County, Texas. Such a stressor for a $3000 lot.

  • Tue, May 23 2017 12:47 PM In reply to

    • Drew
      Consumer
    • Top 10 Contributor
    • Joined on Thu, Mar 30 2000
    • PA
    • Posts 51,431

    Re: Buyer didn't file deed and is MIA, what now?

    THe taxes probably run with land not a personal liability of owner...but double check if you are personally liable as to association matters...my guess is yes you are 



  • Tue, May 23 2017 2:18 PM In reply to

    Re: Buyer didn't file deed and is MIA, what now?

    There are lots of options, but the smart thing to do would be to consult with a local real estate attorney.

  • Tue, May 23 2017 5:08 PM In reply to

    Re: Buyer didn't file deed and is MIA, what now?

    dobiedisco:
    Such a stressor for a $3000 lot.

    Yeah, sounds a bit like a timeshare ;-)

    At least you have an interested buyer.  Best of luck!

     

     

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