If I sold a land contract and the buyer has not made any payments, can he be charged with fraud?
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If I sold a land contract and the buyer has not made any payments, can he be charged with fraud?
I sold a land contract, the buyer paid a small downpayment. The buyer moved into the property and has never made a payment or made any attempt to make a payment. Can I have him charged with a crime? If not, can I evict him immediately?
Asked on November 1, 2011 under Real Estate Law, Iowa
Answers:
FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney
Answered 12 years ago | Contributor
If you sold property to a buyer and you have yet to receive any payment other than the small down payment, you should consult with a real estate attorney about the situation.
If the transaction was a seller carryback and you hold a promissory note secured by a mortgage on the property, you should forcelose upon the security and once foreclosed, evict the buyer.
Your matter is more of a civil action as opposed to a criminal matter.
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