Over the years we have written a number of articles for newsletter, associations, and seminars. We have began to archive them here to make them available to the general public.

• The Do's and Don'ts of Infidelity
• Expectations of an Infidelity Investigation
• Home Improvement Fraud
• Identity Theft
• Seller Be Ware
• Signs of a Cheating Spouse
• Felons on the Payroll

Seller Beware
David L. Basham

You have a nice home, and you have worked hard to take good care of it inside and outside. You have lived there for about 10 to 15 years. Between your payments and the home's appreciation in value, you have a huge equity. During the same time you have worked hard and received promotions. You have a much better income than when you bought this home. Now is the time! You have decided to sell your home, and purchase a larger home, in a more prestigious area. You also want a lot of the nicer things in this new home, which you could not afford in the home where you are now.

After some research, you decide that you are going to sell your home your self. You feel that the 6 % or higher realtor’s fees are too much. So, you do everything that you have been told that you should do. Your house sits on the market for about 2 or 3 months. You had several possible candidates, but none of the prospective buyers took the final step.

One day, a fellow comes by and tells you that he has a person that is interested in buying your home. He is assisting this person, at no cost to you. After looking at your home, he states that the price you are asking is very reasonable, and that there should be no problem. He submits a contract to you. A couple of weeks later he comes back, and states that the person he is representing could not qualify for the loan on a technicality. He asks if you would go along with a Lease-Purchase Agreement, until the details of a new loan can be worked out. You realize that this agreement would provide you with an opportunity to move out of the house, without having the additional financial burden of two house payments. You agree to this arrangement. You move out. The other person moves in. At the same time, you receive a check for the first month's rent. All seems well.

It is now four months later, and you have not received your checks for the second, third or fourth months. You have been calling the guy who represented the family who moved into your old residence. He will not return your calls. You go to your old residence, and talk with the family living there. They tell you that they paid the guy who was representing them. They had copies of the checks that they had sent to him, which were cashed. They have a written agreement with the person who facilitated the deal.

Now you are in a legal dilemma. Can you evict the current occupants of your old residence? They have paid the amounts that were agreed upon, each month and on time. Your problem in getting paid is with the person who was/is representing the current occupants. Your options might be:

• Contact your Attorney, and ask him or her to look into the matter.
• Notify the police, claiming that this representative has stolen your money.
• Go to the Magistrate's Office, and inquire if this would be a criminal or civil matter.
  • Suggestions on how to avoid this situation:
  • The Lease-Purchase Agreement should have been between the owner, and the new occupants of the house.
  • The new occupants should send the monthly payments/rent directly to the owner.
  • If the new occupants did not pay the amounts agreed upon, they could be evicted.
  • Refuse to enter into a Lease-Purchase Agreement with anyone.
  • We are not attempting to provide legal advice, for this author is not an attorney. For legal advice, the reader should contact an attorney specializing in real estate law.