what's your view?

[bluebirdfarm]

Well i am in a quandry .
LSS
we "loaned " a little piece of property to friends so they could build a cabin and enjoy the farm life with us ( they live out of town 6 hrs.) and they started building a kinda BIG house innthe smack middle of the farm and they di put in a road and 7 yrs later they still have not finished the house.
LSS, we were going to sell them a half share in the farm property, due to their recent inheritance and they gave a down payment of less than 10 % and now they have sold some property and were going to pay us some more money , but we asked if they could get financing and pay the full amnt ( plus they have another property for sale at over 1 mil) and they got really pissy with us , so we said we won't sell half but you can buy all and now they are royally ticked at us , and have been kinda nasty , and we gave them a price that was not written in stone and they di not even counter offer , we are just about mad . Should we go ahead and list our farm for sale or wait for them to offer , .
LOL they have been at this for 7 years !!!!!
what to do ??

 

[dangerouschicken]

Stick it to them and sell the place. I'm a Quaker and we do honest business. Someone gives you grief like that, they sure aren't holding up their end. You can sell the place. You were, in my opinion, very kind to them already. They took advantage of you, so time to wash your hands of it.

 

[bluebirdfarm]

thanx dangerous chicken!
i have been honest with them about EVERYTHING.
They don't deserve to have this property .
But now my DH and I have decided to sell all and move to virginia and build a boat !!!!
LOL
just when i got started in chickens .
Well i can always sell them and buy more later , then ther are the swap meets too, aussie girl has informed me of in VA.
thanx again for your viewpoint.

 

[bluebirdfarm]

we will refund their downpayment
LOL hope they don'y try to sue us !!!
they will be losing a house that they supposedly have 35 k invested in.
i told DH that is why they never finished it they knew we would ask them to commit to something!

 

[LeeLeesFarm]

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Yikes....
this sounds a little tricky

I sell residential real estate in So. Cal.

You took a deposit, with no time-line written down .... meaning you didn't give the buyers a definite period of time to come up with the full price or more down payment. This might mean they have 'rights' with an indefinite time frame (?).

I'd check with a lawyer or knowledgeable realtor in the area.

You could try to give them their deposit back, BEFORE mentioning you are going to "list to sell".

The best bet for you, is that they simply take their money back, while under the impression that they can 'consider buying'. This lets you off all hooks, and then you can start a fresh, clean negotiation with them, IN WRITING to protect yourselves, should they still want to buy.

Here's an interesting link, regarding people who 'live' or build on your property:
http://real-estate-law.freeadvice.com/real-estate-law/adverse_possession.htm



I'd say, get some professional advice from someone who knows your state's laws (realtor or lawyer).


Best Wishes!
Lee


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