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Updated about 5 years ago on . Most recent reply

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Pat Gardiner
1
Votes |
5
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Seller would like to cancel contract for deed

Pat Gardiner
Posted

Please, any advice for my situation would be immensely appreciated. My property is in South Carolina. The contract for deed is a little more than a year old and I was under tremendous pressure when I signed it. I was leaving the country and wanted someone I knew to move in. I took no down payment, he pays zero interest, and I continue to pay the insurance and taxes. His payments are far less than what a 3 bedroom house would cost to rent in that area. I don't earn any profit from this deal as the monies he's paying is the exact amount I pay on my mortgage every month.  I had no idea what I was doing when I drew up the contract with the help of his aunt. The process was very intimidating. I was going through some personal issues and I felt they took advantage of me at the time. 

Most Popular Reply

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1,557
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Jacob Sampson
  • Investor
  • Topeka, KS
1,142
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1,557
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Jacob Sampson
  • Investor
  • Topeka, KS
Replied

I mean you can take anyone to court for any reason, but ultimately you are an adult and made an agreement with another adult.  Here is the problem, back when you were worried and stressed you were grateful that they helped you through a hard time and now that the worry and stress is gone you think you were taken advantage of.

All that being said, I would talk to an attorney. 

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