The traumatic experience has been with trying to sell our home. We finally agreed to have people in there as a lease option. They would come up with financing in October.
Wouldn't you know it...as soon as we moved out things started breaking in the house. We fixed them, leaky pipes and all.
Then after a contractual dispute over who should continue fixing things, they abandoned the house and want their money back.
We called a lawyer and found out the courts would most likely side with us. Mostly small claims stuff, but huge when you are living on a teacher's salary and student loans.
I still feel awful that we had a disagreement. They abandoned their dream house, and they had less than optimal living conditions.
Nope, being right doesn't always feel good.
I know all too well about how expensive it is to hire a lawyer - I'm sorry you are facing these issues. If you don't already know about Dave Ramsey you might be interested in his opinions of money, saving, spending, real estate, etc. One thing he has said many times is that most lease to buy options fall apart and that you should either rent or sell - no in-between. All contracts should be drafted by someone who knows the state laws - the money spent on that could save you a lot later. Anyway, I've tried to tell my sister this to no avail so I don't really expect anyone to listen to me and has done a 2nd lease to own - I truly hope it works out for her. I just hear callers all of the time on the Dave Ramsey show talk about horror stores like this. Anyway, I'm so sorry you are dealing with stress as a long distance land lord : ( When will Lynn graduate? Any chance of you returning to Utah? Hang in there!
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ReplyDeleteWe only agreed to the lease because it was lease or let the bank take it. If we'd let the bank take it...less opportunities for buying a practice when we graduate. Our lease is VERY solid. Luckily a lawyer looked at it before we signed hence the $1000 you fix it and house warranty addendum s. We are actually in good shape other than cleaning it up. A house down the street,,,You know them...sold in 2 weeks. No we probably won't be moving back to Utah. If we move back to Utah, it will not likely be Northern Utah.
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