What to do if we sold our home on a land contract but the buyers have stopped making payments and we found out that they haven’t been paying the property taxes/homeowner’s insurance?

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What to do if we sold our home on a land contract but the buyers have stopped making payments and we found out that they haven’t been paying the property taxes/homeowner’s insurance?

We sold it 1 1/2 years ago. What do you recommend that we do now?

Asked on December 10, 2012 under Real Estate Law, Michigan

Answers:

eric redman / Redman Ludwig, P.C.

Answered 9 years ago | Contributor

they are in breach.  you neeed to make demand to cure whatever they have not been paying.  they should have a certain amount of time to cure- per your land contract- if they do not sure you can file suit to either get the priroperty back of foreclose.  states are different in this regard.


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