Legal Question in Real Estate Law in Michigan
Purchasing Property
I am the middle of buying property from a friend. Orginally we signed a purchase agreement, but that was it. It was the agreement he would hold his house for me, until I sold mine. In the mean time, I was told that I could do whatever I wanted to the new property. So, I have spent alot of time and money on this house. Now, my friend says he's tired of waiting for me to sell my house, and the agreement may be off. What can I do, to get my money back, that I put in to this house? And, my down payment as well?
1 Answer from Attorneys
Re: Purchasing Property
Depends on the contract but you could at least get money back from the improvements. Plus when you have a contract for real estate you can get specific performance of the contract because of property's uniqueness. You probably should contact an attorney.
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