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  1. #1
    Join Date
    Oct 2018
    Location
    Naples, Fl
    Posts
    8

    Default Getting Title from an Unscrupulous Home Seller

    My question involves real estate located in the State of: Florida

    Preface: The seller of this property is a PREDATOR LENDER AND A SCUMBAG for years, everyone who know him says the same.

    My niece and her new husband with a little one on the way answered an add for rental.
    Within weeks of moving in the owner produced a promissory note together with a contract for deed offering my niece to purchase the home.
    This appeared to be a great blessing for she in hopes of the American Dream of home-ownership.
    Well.. so much for those hopes.
    After she and her husband signed the two documents, they realized that this was a mobile home that was cloaked as a home.
    Long story short they were not happy and told the 'lender' that there were moving out and that their payments would be good until December.
    Now the old owner wants them to sign a quit claim deed transferring the property back to him.
    No mortgage was signed,, just the promissory note and contract for deed.
    I have since found out that this man has sold this same property three time since , and he is now ready to close with another buyer.

    Questions:
    May I have my nice transfer 'her rights' warranty deed or quit claim deed to me or one of my llcs?
    I in-turn sign a promissory note, together with a purchase agreement and a mortgage with her?
    Record all.
    And then go back to the old PREDATOR and offer a release in exchange of the $50,000.00 he swindled her out.
    Can I put the llc in Chapter 13
    She purchase it for 100
    Hes now selling t for 250

  2. #2
    Join Date
    Sep 2010
    Posts
    18,826

    Default Re: Predator Lender - Buy Here / Pay Here Horse Paybacks - Need Advise Please for Nie

    YOU are obviously not a lawyer.
    YOU can not do anything with regard to this matter.

    There are important details missing here (which is why we're reticent to talk about things that are relayed to us third hand).
    What is this $50,000 you're trying to get out of them? Was this the amount of some down pament.
    What LLC? Unless you are either the owner of the LLC or a valid creditor, you can't institute bankruptcy.

    What YOU should do is help your neice get an attorney. Which they should have had before they signed any of these contracts (or within days of doing so).

  3. #3
    Join Date
    Oct 2018
    Location
    Naples, Fl
    Posts
    8

    Default Re: Predator Lender - Buy Here / Pay Here Horse Paybacks - Need Advise Please for Nie

    YOU are obviously not a lawyer.
    Of Course I'm not a lawyer, that is why I'm here for guidance ad not some [respectfully] flippant troll answer.


    YOU can not do anything with regard to this matter.
    I beg to differ. She can transfer the deed to me (MMGR) or my llc, and I can put the llc in Chapter 13, move for a voluntary dismissal once the man sigh a mutual release and settlement agreement for the 50,0000.00 he took from her as down payment .


    I'm just trying to get some leverage for her as he want to sell and wants a quit claim from her now.


    There are important details missing here (which is why we're reticent to talk about things that are relayed to us third hand).
    What is this $50,000 you're trying to get out of them? Was this the amount of some down payment.
    What LLC? Unless you are either the owner of the LLC or a valid creditor, you can't institute bankruptcy.
    What YOU should do is help your neice get an attorney. Which they should have had before they signed any of these contracts (or within days of doing so).

    If i had the monies wound you not think I would have gone to law school or already found a lawyer for her?
    Perhaps someone else can assist.
    Thank for your guidance

  4. #4
    Join Date
    Mar 2013
    Posts
    16,667

    Default Re: Predator Lender - Buy Here / Pay Here Horse Paybacks - Need Advise Please for Nie

    cicibradley, there is one major flaw in your reasoning.

    A "contract for deed" is NOT a deed. They have absolutely NO ownership interest until they have paid off the note and THEN get a deed to the property.

    Signing any kind of deed over to you would be worthless and recording it would be slander of title for which your niece, husband and you can be sued.

  5. #5
    Join Date
    Sep 2010
    Posts
    18,826

    Default Re: Predator Lender - Buy Here / Pay Here Horse Paybacks - Need Advise Please for Nie

    In addition to your other failings, you've flipped the quotes vs. new materials in your response to me.
    Your imagination that her "deeding" the property to you would do anything like you are imagining is laughable, and as AJ points out could indeed cause her additional problems.
    There's way too much ambiguity here to try to figure out what exactly is happening.
    If your niece wants to come here with the actual details and the ability to answer questions that we need to ask to feret out just what is going on, we'd be glad to try to help.

    We can't help you the way you express the problem and the fact you decided to hurl insults to people who try to help you, makes people disinclined from trying.

  6. #6
    Join Date
    May 2014
    Posts
    174

    Default Re: Predator Lender - Buy Here / Pay Here Horse Paybacks - Need Advise Please for Nie

    Cici,

    As the others have pointed out, there are details missing, maybe pertinent, maybe not about this purchase. I am wondering how someone "realized it was a mobile home cloaked as a home". Did they buy it site unseen? What was the $50k? Was that an actual down payment that they paid? The contract is for $100k but you say he's now selling it for $250k? How long ago was this? Why would you release something you have $50k left to pay off when it can be sold for $250k? Nothing of this makes sense.

  7. #7
    Join Date
    Nov 2013
    Posts
    6,085

    Default Re: Predator Lender - Buy Here / Pay Here Horse Paybacks - Need Advise Please for Nie

    I agree with other posters in that your scheme will not work, would be a fraud on the bankruptcy court and will get you and your niece in more trouble than it's worth.

    I also agree that we are missing the whole story.

    First, the seller of property in FL is not required to fill out a seller's disclosure statement. But they do have to disclose material facts about the property that can affect the value. The fact that this house was actually a manufactured home is a material fact (not disclosed) and could lead to rescission the contract.

    Second, if your niece made any down payment ($50,000) or made any payments under the terms of the contract, your niece is now considered an equitable owner while not holding actual title to the property.

    Now the old owner wants them to sign a quit claim deed transferring the property back to him.
    Of course he does. He wants to keep her equity in the house. She should not do this under any circumstances until she gets her deposit back.

    Third, contracts for deed in FL have to be recorded to be valid. Was the contract and PN recorded?

    Forth, your niece should not have moved out of the house while disputing the contract. She was in possession of the house and the seller would have had to foreclose to get her out. She should have just stopped making the payments and she would have had the upper hand. Water under the bridge now.

    Fifth, there are the issues in FL about taxes on manufactured homes that are titled to the owner of the property it sits on. Was the proper appraisals done after the home was attached to the land and were those taxes paid. Even in a contract for deed, the buyer should have purchased title insurance and had a title search done. More water under the bridge.

    She really needs an attorney to handle this. Help her by helping her find one.

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