Owner financed sale agreement

[Jeremy Cagle]

I inherited my dads house when he passed away. It is not worth much at all maybe 10,000. I work as a nurse and I knew this lady who needed help. I wrote up an owner financed sale agreement and disclosed everything under the sun about the house to her. We initialed and signed in front of a notary republic and now she wants to quit paying. Had a lawyer friend tell me I had to file for an ejection in circuit court and not eviction. 

Wondering if anyone here can give me insight on how to start this process?

Please any advice is welcomed! I cant pay $150hour for lawyer

[Nathan Gesner]

Do you want to spend thousands on attorneys to force the sale? Or do you want the problem to go away?

Personally, I would sign the termination and move on.

When you do owner financing, you are typically selling to someone that can't qualify through a normal lender. There's a reason for that. You're taking on an increased risk so you need to mitigate the risk by taking a large down payment, typically 10% - %20. If she defaults, the down payment is yours to keep, you put it back on the market, and you try it again.

Where is the house located? The fact that your father lived in it tells me it's not a complete tear-down and may have more value than you think. Have you spoken with a REALTOR? It's completely free to have a REALTOR conduct a market analysis. MAybe you can list it for sale with a REALTOR and sell it for a high enough price to cover the REALTOR fees. Even if you sold it for $9,000 instead of $10,000 that would be cheaper than an attorney and get it off your hands.