Q: The buyer agreed to purchase the real property in the amount of $170,000 but the buyer requested to pay $70,000 direct
directly pay $70,000 off the record (no written documents as per $70,000) and at the Sales contract, the sale price indicated $100k. Only $100 k was shown at the deed of trust and recorded. The buyer paid $40,000 at the same date when the deed of trust was recorded (the seller was the lender). According to the promissory note, the buyer paid $550 for several months. 3 months after the sale, the buyer paid the remaining balance of $30,000 from $70,000 and pay an additional $30,000 principle toward $100,000 loan. The escrow officer provided a new amortization chart to the buyer, but did not change the amount in the deed of trust and promissory note. The buyer continued to pay the monthly loan payment 2-3 months but he stopped to pay loan amount. The seller initiated the foreclosure processing with proper notice to the buyer. When the time for a foreclosure sale, the buyer claimed that he paid the entire $100,000 and even overpaid. Now the buyer filed a lawsuit againt the seller.
A: it's not clear whether you are the buyer or the seller but in any event, each party here, needs a lawyer representing them and you want to retain that lawyer right away if there is an active lawsuit.
A:
There is a Maxim of Jurisprudence that says a person cannot profit from his own wrong, and if you consent to a wrong, you cannot later object to it. Get an attorney to defend the buyer's case.
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