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Old 07-14-2020, 02:52 PM
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Default Land contract

Hi all, Last year I sold a house in Michigan that I had bought for my dad. He passed in 2015 and I could not sell it. A couple contacted me by getting my PH# from the Neighbor. I sold it to them on land contract through a lawyer and title company. The problem is that they never got homeowners so I paid it and notified them, they have not paid me back or seem to want to talk about it. They have been sending the payment though. I emailed them a told them that if they don't get their own homeowners and repay me I was going to apply the payment sent to the insurance not the mortgage. They never replied. Today I got notice that they did not pay the property taxes either. Sent them another email today demanding they contact me and get caught up. No reply yet. The house is in Michigan and I am in California. Any ideas or experiences would be helpful.
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Old 07-14-2020, 04:12 PM
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Default Re: Land contract

It depends on state law and the contract.

Have you sent a registered letter ?

How tough are you ready to get ?
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Old 07-14-2020, 04:16 PM
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Default Re: Land contract

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Originally Posted by m1west View Post
Hi all, Last year I sold a house in Michigan that I had bought for my dad. He passed in 2015 and I could not sell it. A couple contacted me by getting my PH# from the Neighbor. I sold it to them on land contract through a lawyer and title company. The problem is that they never got homeowners so I paid it and notified them, they have not paid me back or seem to want to talk about it. They have been sending the payment though. I emailed them a told them that if they don't get their own homeowners and repay me I was going to apply the payment sent to the insurance not the mortgage. They never replied. Today I got notice that they did not pay the property taxes either. Sent them another email today demanding they contact me and get caught up. No reply yet. The house is in Michigan and I am in California. Any ideas or experiences would be helpful.
Make preparations to buy your house back on the county court steps.

I had property on a southern Illinois lakefront. The wife did not pay the taxes. I found out two days before. Next morning I was there with cash. We literally bought it back the day before the tax auction.
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Old 07-14-2020, 06:07 PM
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Default Re: Land contract

Land contracts are normally not a good deal for the buyer. The seller has the property as collateral. If they don't pay you get the property back....unless taxes are to far behind. I would think they would notify you being the property owner of record at the tax office, and you bill the buyers for taxes. If they don't pay any of this I thought you could take back the property and resell or rent or whatever. Currently in my area it is a sellers market. Hopefully same for Michigan where your house is. Good luck.
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Old 07-15-2020, 01:41 AM
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Default Re: Land contract

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Originally Posted by Doc View Post
Land contracts are normally not a good deal for the buyer. The seller has the property as collateral. If they don't pay you get the property back....unless taxes are to far behind. I would think they would notify you being the property owner of record at the tax office, and you bill the buyers for taxes. If they don't pay any of this I thought you could take back the property and resell or rent or whatever. Currently in my area it is a sellers market. Hopefully same for Michigan where your house is. Good luck.
Notice comes in the form of a newspaper ad.

IMO your only recourse IMO is foreclosure, and that's going to be messy. At this point you need a good lawyer. I don't think you'll get anything over the mortgage back.

Disclaimer: I am not a lawyer.
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Old 07-15-2020, 07:39 AM
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Default Re: Land contract

Hi all, thanks for the replies, the taxes are only 6 months behind as the sale is only 6 months old. Its weird because they have been making the payment but no insurance or taxes. I have been reading Michigan law and seems land contracts can be canceled for non payment early into the loan and more difficult later on. I sent them some pretty strong demand letters and have not heard from them. I think I will contact an attorney there while waiting. I know they put some work and money into the old place along with the down payment and payment they have made, they will lose that so maybe they are trying to come up with the money. There are some laws just made bout foreclosures during covid that seem to be expiring at the end of July. We will see.
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Old 07-15-2020, 06:37 PM
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Default Re: Land contract

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Originally Posted by m1west View Post
Hi all, thanks for the replies, the taxes are only 6 months behind as the sale is only 6 months old. Its weird because they have been making the payment but no insurance or taxes. I have been reading Michigan law and seems land contracts can be canceled for non payment early into the loan and more difficult later on. I sent them some pretty strong demand letters and have not heard from them. I think I will contact an attorney there while waiting. I know they put some work and money into the old place along with the down payment and payment they have made, they will lose that so maybe they are trying to come up with the money. There are some laws just made bout foreclosures during covid that seem to be expiring at the end of July. We will see.
Update, I got an email from them today. They paid the taxes and are sending me the money for the homeowners today. Why do you have to turn into an asshole to get people to do the right thing or even respond to you?
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Old 07-15-2020, 06:40 PM
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Default Re: Land contract

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Originally Posted by m1west View Post
Update, I got an email from them today. They paid the taxes and are sending me the money for the homeowners today. Why do you have to turn into an asshole to get people to do the right thing or even respond to you?
Iím glad they came through. Hope it doesnít turn into a continuing problem
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Old 07-15-2020, 10:04 PM
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Default Re: Land contract

My guess is they wanted to see what would happen. I'd stay right on top of this!!
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Old 07-15-2020, 10:55 PM
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Default Re: Land contract

Could you raise the monthly payment to include taxes and insurance like mortgage companies do with the escrow accounts? Might save you some headaches. I suppose you could offer that and give them the option.
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Old 07-16-2020, 02:30 PM
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Default Re: Land contract

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Originally Posted by Doc View Post
Could you raise the monthly payment to include taxes and insurance like mortgage companies do with the escrow accounts? Might save you some headaches. I suppose you could offer that and give them the option.
That is a pretty friggn good idea, thanks
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