Quote:
Originally Posted by SleazyDream
i put a $30,000 downpayment on a $100,000 piece of land.
Jman put no money down. just rent to own monthly payments for 49K of it - I owned 51K of it. he paid in about 16K ish over the time we owned it before I went bankrupt
i paid all legal bills to set up the agreement and paid all taxes too.
he missed 5 months of payments - read above for the rest
bank took back the land but was willing to consider letting Jman take it over....
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So you bought some land with a $30,000 down payment...and you set up a separate deal with him for a rent to own...approximately half of the land...upon final payment. You went bankrupt and lost the land so he lost all of his rent to own investment because you could not uphold your end due to bankruptcy.
Does this accurately sum it up?