You may have elected to put in place a land contract to sell your property. This happens if for instance the buyer cannot obtain conventional financing, or if the sale is between family members.
FORECLOSING A LAND CONTRACT
However, if the deal turns sour and the buyer stops paying, the seller must foreclose the land contract to recover his or her full rights in the contract. This is a process similar to a conventional foreclosure but different in several ways.
The foreclosure process is generally the only way to eliminate the land contract and create a “clear title” that is title to property that does not have any “clouds” (uncertainties) as to ownership.
LEGAL HELP WITH FORECLOSURES
You will require competent legal guidance in foreclosing a land contract. Green Bay Wisconsin Attorney David Daul is quite experienced in this process, both in defending against and prosecuting such foreclosure actions. Call David to discuss your issues with land contracts directly at (920)437-8191, send him a message using the Contact Us form.
Your local attorneys at Wanezek, Jaekels, Daul & Babcock, S.C., are ready to help you with all of your real property and real estate legal needs, including land contract formation and foreclosure.