Legal Question in Real Estate Law in Tennessee
real estate
I am trying to buy a house a rent to own the landlord wants to sale the house for 175k but has 396,331 loans against the house
the amount shows up as lenders not lein can she do this ?
Asked on 10/01/08, 5:38 pm
1 Answer from Attorneys
Anthony Bradley
The Bradley Law Firm, PLLC
Re: real estate
It is possible. The loans on the property may be part of a blanket loan that covers multiple properties. The seller would need to guarantee a Warranty Deed (not a Quit Claim Deed) will be given to you. If the seller can not deliver a Warranty Deed, then have the seller agree to refund your downpayment, in writing of course.
Make sure that you get all of this in writing and part of the lease-purchase contract.
Answered on 10/02/08, 3:49 pm
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