Legal Question in Real Estate Law in Illinois

contract for deed lawsuit

I mistakenly signed contract for deed to purchase a contract but finacing fell thru when a 2nd mortgage on a previous investment property fell thru and stopped me from having the income to purchase the property. I did maintain the property and put tenants in the home/condo but now that the last tenant is gone owner wants me to pay over $40k in fees. He did not take into accoount the work I did in keeping the property up and I paid for advertising,leases and background check of the tenants.The owner atty submitted to me that he willput a ien on my home for payment or go to court...what should I do.


Asked on 9/08/08, 10:07 am

1 Answer from Attorneys
David Grisamore Law Offices of David T Grisamore

Re: contract for deed lawsuit

You should not have to pay fees per se, but in an action to foreclose (so to speak) the contract for deed you will certainly lose your downpayment if you are found in default.

DTG

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Answered on 9/08/08, 12:07 pm


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