Questions re: Contract for Deed

**goneriding** · 12-02-2009, 07:48 AM

Thank you for taking the time to review my post. In 2006 I helped my elderly aunt and uncle complete, sign and notarize a Contract for Deed on a piece of property they owned in Oklahoma. The buyer agreed to make payments of $610 per month and pay all property taxes. During our Thanksgiving gathering my aunt and uncle brought to my attention that the buyers have not made a payment in six months, have never paid the taxes (aunt and uncle have paid them every year), have issued checks that were returned NSF and recently sold the property to another buyer without consulting my aunt and uncle first. Additionally, my aunt and uncle informed me that the buyers have never made a payment on time and it is customary for them to go 3-5 months in between payments.

I truly believe that the buyers are taking advantage of my aunt and uncle. What should we be doing to stop them? Any advice you can give us would be greatly appreciated.

Thanks again.

**Greg** · 12-03-2009, 06:09 AM

Your aunt and uncle have taken on the role of lender here, so it is time to do what all of the lenders are doing around the country when a borrower does not make their payments. Get a lawyer and foreclose. Take the property back and sell it to someone who has money.

**Ortigas houses** · 12-07-2009, 11:58 PM

They have responsibilities to respond to,if they did not work on it,consequences may follow. As for the buyers consequence,get your aunt and uncle's property. I'm sure,if you take it on court,they'll win.