Legal Question in Real Estate Law in Pennsylvania
In 2006 I sold my parents home. It is now 2012 and I just got a letter suing me because now the house has gone down in value and the buyers are under water. The letter says that they want the difference between what they bought the house for and what it is worth now. I now live overseas and want to know if I have to come back for the trial?
1 Answer from Attorneys
First, you should engage a lawyer to defend the action. The claims sounds ridiculous, but I don't have all of the facts. If you don't defend, the buyers may get a default judgment against you [that only means that you didn't answer]. Judgments against you will become liens against you and your property, and will negatively affect your credit rating. They will also prevent you from getting most loans, such as car or mortgage loans. They could also prevent you from being able to rent a home, since many landlords will do a credit check.
THIS RESPONSE IS NOT LEGAL ADVICE, SINCE I DO NOT HAVE ALL OF THE INFORMATION THAT WOULD BE REQUIRED, AND I DO NOT HAVE A REPRESENTATION AGREEMENT WITH YOU.
* If the answers to your question confirm that you have a valid issue or worthwhile claim, your next step should almost always be to establish a dialog with a lawyer who can provide specific advice to you. Contact a lawyer in your county or township.
* Another reason for contacting a lawyer is that it is often impossible to give a good answer in the Internet Q&A format without having more information. The unique circumstances of your situation and things that you may not have thought to mention in your question may completely change the answer. If you want to be sure that you have a complete answer to your question and an understanding of what that answer means, establish a connection with a lawyer who practices in the area of your concern.