Indianapolis, IN asked in Real Estate Law for Michigan

Q: I'm in a Bad land contract with my former best friend and I would like to sell the house to get up from underneath them

My question is do I need him to sell it because he will not respond to a text message and email a phone call a letter nothing radio silence. I can't in good faith show a family a home and get their hopes up have them get a bank loan and have this Yahoo not comply

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1 Lawyer Answer
Kenneth V Zichi
Kenneth V Zichi
  • Fowlerville, MI
  • Licensed in Michigan

A: If I understand correctly, you are BUYING a home from a former friend on a land contract and making payments to them. MOST (and I can't emphasize enough that you need to read the terms of your land contract as this is only general information and not legal advice!) land contracts have a 'due on sale' clause that means IF you sell the property the whole sum you owe is due. That implies and generally means the property can be sold so long as you sell it for enough to pay off the balance of the loan.

How much that is and whether or not you'll get cooperation is a whole different question, but that's where you need to start.

So YES you can sell the house. But the process may not be so simple if the current land contract holder wants to play games or not talk to you. Get local legal advice to insure you're doing what you can to make this work smoothly.

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