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  #21  
Old 11/08/11, 10:47 PM
texican's Avatar  
Join Date: Oct 2003
Location: Carthage, Texas
Posts: 12,261
Anyone can sue anytime for any reason.

Just cause you can doesn't mean you should, or that you'd win.

Guaranteed the lawyer will win.

If it were me, I'd tell my daughter/niece/whatever to take the money back to the bank, and eat whatever penalties incurred with the bank. See it as a life lesson, a "senior class" course in what NOT to do when buying real estate. Verbal contracts are very hard to prove in court... this is why we have this stuff called paper, where people can sign their names, and have witnesses and notary publics' signatures.

More'n likely, to sue, you'd spend more on the lawyer than the bank penalty would be, and you'd end up losing, and still have to pay the penalty anyways...

I'd "chalk it up" and move on....
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  #22  
Old 11/08/11, 10:57 PM
 
Join Date: Dec 2009
Location: Oklahoma
Posts: 3,116
Quote:
Originally Posted by Oldcountryboy View Post
My daughter was in the process of buying a couple of acres of land with a old rotten house on it from her mom's step sister. She went through the process of applying for a loan and finally was approved and issued a check. My daughter notified her mom's step sister that she has the money and she's ready to make the transaction. The step sister said to give her a couple of days to find the abstract as she's misplaced it somewhere. Then today she tells my daughter that she's sold the property to someone else who offered her more money.

My daughter is deeply hurt as she wanted it real bad since it use to be her Grandpa's place. Plus the fact that she is now holding a big loan in her checking account and is not sure if the bank will take it back. Afraid she might have to make payment's on something she doesn't own.

Is there anyway my daughter could sue her step aunt for the property after going through all this trouble? She was really looking forward in raising a big garden and a few pigs on the place.
If the property was offered to her for x amount yes I think she could. A verbal contract is legal and enforcable. I think it could easily be shown that indeed there was a contract by the amount of the loan and reason for aquiring it. There should be common knowledge by others as well to such a contract. She should also get legal fees awarded.
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  #23  
Old 11/08/11, 11:01 PM
 
Join Date: Dec 2009
Location: Oklahoma
Posts: 3,116
Quote:
Originally Posted by DryHeat View Post
There might be some details missing here, too. Is the house "rotten" as in, part of roof caved in, no water or electricity, windows all busted, termites working away, places where you step and your foot goes through the floor? Or something that would be liveable for many more years while constructing a new place on the property, worth $25K with $10K materials and repair labor? Is the basic location particularly good so somebody would really want to build a new place there? Did the daughter low-ball the value and play on aunt's sympathy with the offer $2500 or $5000 saying it wasn't worth anything but sentiment and garden space but the new buyer agree to $20,000 due to upside that's not mentioned? If the new price was double or triple the relative's offer, my sympathies might be more with the aunt. If the aunt went shopping it around to make another $500, and without letting the niece make a counter-offer, well, it's time to do some serious shunning for any family gatherings and so on.

Or had the aunt been trying to sell without success for some time, eagerly opening the discussion with the niece, and clearly agreeing to the price while knowing the market value pretty well? Agreed though, lawsuits are expensive and there'd need to be real damages. If there's actual loss on the bank loan payback, that amount could be asked for in small claims court perhaps along with some modest additional for time, travel, stress. Dunno if small claims will consider punitive damages. My experience has been that *good* lawyers try to keep clients out of court. Do you want major family drama and a lot more stress and wasted time? If so, go for it in small claims.
Duh! They already have the family issues.
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  #24  
Old 11/08/11, 11:49 PM
 
Join Date: Feb 2008
Posts: 4,443
Quote:
Originally Posted by Common Tator View Post
I'm a little confused about how your daughter acquired a loan without escrow. Was it an unsecured loan? Usually, there is a deed of trust, and the property secures the loan. You can read about it here: http://en.wikipedia.org/wiki/Trust_d...real_estate%29

Did your daughter have anything in writing? Had she made any kind of down payment or earnest money agreement?
I'm not sure just what kind of deal they had. Written or just verbal. Secured or unsecured. I have not talked to my daughter yet to see just what happened. Got the message through my wife.


Quote:
Originally Posted by DryHeat View Post
There might be some details missing here, too. Is the house "rotten" as in, part of roof caved in, no water or electricity, windows all busted, termites working away, places where you step and your foot goes through the floor? Or something that would be liveable for many more years while constructing a new place on the property, worth $25K with $10K materials and repair labor? Is the basic location particularly good so somebody would really want to build a new place there? Did the daughter low-ball the value and play on aunt's sympathy with the offer $2500 or $5000 saying it wasn't worth anything but sentiment and garden space but the new buyer agree to $20,000 due to upside that's not mentioned? If the new price was double or triple the relative's offer, my sympathies might be more with the aunt. If the aunt went shopping it around to make another $500, and without letting the niece make a counter-offer, well, it's time to do some serious shunning for any family gatherings and so on.

Or had the aunt been trying to sell without success for some time, eagerly opening the discussion with the niece, and clearly agreeing to the price while knowing the market value pretty well? Agreed though, lawsuits are expensive and there'd need to be real damages. If there's actual loss on the bank loan payback, that amount could be asked for in small claims court perhaps along with some modest additional for time, travel, stress. Dunno if small claims will consider punitive damages. My experience has been that *good* lawyers try to keep clients out of court. Do you want major family drama and a lot more stress and wasted time? If so, go for it in small claims.
The house is litteraly rotten. A tree crashed through the back part of it. The rest of the roof leaks very bad. The floor is rotting out. There's clothes and junk all over the place that's getting moldy and the place is infested with rats, snakes, spiders, etc. Looters have stripped the copper wire out of the walls and the meter pack off the pole. The land has junk everywhere and hasn't been mowed in about 10 years or more.

My daughters intention was too burn the old house down and buy a trailer house to put on the place. Since the house isn't worth anything, she was basically buying a junky peice of land for the whopping amount of $750 per acre. She would have been doing a whole lot of cleaning up to get the land back to looking good once again.

I don't think my daughters mom has ever gotten along with her half siblings very well. They didn't grow up in the same household together. They shared a dad, but two different momma's.
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  #25  
Old 11/09/11, 06:04 AM
 
Join Date: May 2004
Posts: 1,623
Sounds like your daughter has been gazumped. It's a practice with a long and ignoble history. Basically, the seller makes a moral commitment to someone who offers something, then goes on hawking it around and breaks their word if someone offers more. Some places have laws against gazumping, some don't. It's a lot easier if you have anything in writing either from or (provably) to the immoral lying promise-breaking putative seller.

Do a search, then get some cheap legal advice, on "gazump" and your state.
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  #26  
Old 11/09/11, 04:33 PM
 
Join Date: Jun 2002
Posts: 5,240
Quote:
Originally Posted by GoldenCityMuse View Post
Probably not worth the aggravation and all the family drama that will no doubt crop up.
Mmmmmm . . . . . . . . . . . I'll bet this alone is going to cause alot of family drama for years to come. But with no written contract, not much can be done.

This is a good life lesson for daughter. - Always get things in writing. And money is more important to some people than family.

I'm guessing Karma will be visiting your daughter's Step-Aunt very soon.
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  #27  
Old 11/09/11, 04:54 PM
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Join Date: Feb 2009
Location: NW GA
Posts: 96
Quote:
Originally Posted by Oldcountryboy View Post
The house is litteraly rotten. A tree crashed through the back part of it. The rest of the roof leaks very bad. The floor is rotting out. There's clothes and junk all over the place that's getting moldy and the place is infested with rats, snakes, spiders, etc. Looters have stripped the copper wire out of the walls and the meter pack off the pole. The land has junk everywhere and hasn't been mowed in about 10 years or more.
I realize it was Grandpa's place, but it sounds to me like a blessing that she DIDN'T get it!! Tell her to wait around a while, the new owner may have bought the property to flip it, if the price was that low. Maybe they'll clean it up and put it back on the market.

But seriously, she should look for something that is not going to cause her so much work right off the bat.
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  #28  
Old 11/09/11, 05:48 PM
 
Join Date: Jan 2003
Location: Bel Aire, KS
Posts: 3,547
Buy some acreage and have money to install a water well and an electric pole...then she could buy the mobile home. I wouldn't buy one in Oklahoma due to the tornadoes though. Maybe buy a house to be moved.
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  #29  
Old 11/09/11, 06:10 PM
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Join Date: Nov 2004
Location: Delaware
Posts: 2,249
Considering that the owner of the property didn't give your daughter a chance to better the offer made on the property means that the seller didn't want her to have it. Well at least you know the score now.

Out of curiosity I would check with the county about the deed. Interested to see if there are any problems with it. I would also try to figure out the sale price.
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  #30  
Old 11/09/11, 09:49 PM
 
Join Date: Feb 2008
Posts: 4,443
Okay here's the scoop! I seen and talked to my daughter today and the money borrowed came from her good uncle on her mom's side. So she can give the money back. Most of it that is. She said she borrowed a little bit more for another purpose and has already spent it. So that is all she has to worry about repaying and there's no deadline on when to get it paid back.

So, "Whewwww"! Thank you father!

So her mom's half sister sold the property to a couple of boys who grew up there before my daughter's grandpa had bought the place and ever lived there. I remember these boys as their parents were common folks around here. But my daughter says that these boys offered $5000 for the place as they want to have it back in their family, and that she's already heard that they're planning on fixing the old house up and flipping it. So who knows what's going to happen with it. Daughter said she would have offered that much if she'd known her mom's half sister wanted more, but sayed she never mentioned that kind of price.

Daughter is terribly upset still yet! But she's not going to try to do anything about it.
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Last edited by Oldcountryboy; 11/09/11 at 09:51 PM.
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