really want to ring someone's neck

[Lee H]

like the title says, I really want to slap someone silly, but there are laws against it, and I do not want to get involved in that mess. Not to mention that I cannot sleep and have not been able to, for a couple days over the situation

For all practical purposes I have lost my home because of an idiot. This was a house that I really wanted. The original owners/designers passed away. Their son would not sell it to me, outright, but he would lease it with an option to buy, after 2 1/2 years. His logic was that hew wanted to see if we could be good neighbors, and he lives on an adjoining property. he was making a profit off my lease, because it was more than the mortgage he had taken out on the property, but I wanted it badly enough, that I didn't care...

So 2 1/2 years comes and goes, and we are both busy with careers, so I didn't push it. I get almost to the three year point, and I decide it is time. Then I find out that he has not paid on the mortgage in over a year, and the house is scheduled for auction. He needs $20,000 cash to get it out of foreclosure. I almost do it, but decided to do a little more research. he needed the $20,000 to get his own home out of hock. He had bundled mine, with another 40 acres, that he hoped to develop, and three dilapidated rentals (that need to be dozed) onto one loan. He will not let me into a short sale, because he says he has equity, that he cannot lose. IF I get him out of hock, he will sell me the house, and his shop...And out of the goodness of his heart, he only jacked the price up $100,000 over market
So the house goes to auction, and I cannot get it without taking the other property, and the rentals (no one else would bid because of this either).. So I am offered a substantial sum of money to move out (bank offer). Now understand this is a 2,500 square foot home, in an upscale neighborhood, where average income is over $100K a year. I have a foot bridge over ash creek, where it runs through my yard. The house has a humidity controlled, and vented designated hot tub room. A bar style walk in cooler, and an indoor BBQ, that vents up the fireplace chimney. The move out sum is as much as a down payment on a lesser home (I did not realize at the time this was because the property was bundled with the shops and the other rentals, and even the nursery, owned by my former landloard, on the adjoining property). I am tempted to take it, but then I find out that this is contingent upon the property being cleaned up. This includes the other properties that were bundled onto the loan...My former landloard still has his stuff in a shop, on the property, and he wants the majority of the move out money, to clean his stuff...or he would be willing to take either my corvette or my 67 austin healey as trade to clean his stuff up. .. This is adding insult to injury, because I did not get a rather substantial security deposit back, and there is no compensation for my upgrades to the home, which were out of my own pocket, do to my own belief that I was going to own the home
My former landloard is an out of work, and poor quality contractor. I know if I whoop him, he is going to claim that he cannot work do to injury, and sue me. I really want to just open hand slap him once though

so end of rant...I am just venting frustrations. I know this is angry, but this really is my dream home. I am 40 years old, and I wanted to stay right here until I retire (probably in another 15 years) then give it to my daughter. I could take this a little better, if the fault was my own.... also forgive spelling and grammar errors. Like I pointed out before, I have barely slept in three days, and my brain is getting "muddy". I even confused the date of the property auction, and had to be reminded at the last minute

Plus I have been working on a prototype air scrubber for a "green" energy company (side project that machinist skills were needed for). The scientist who designed it had a great idea, but he made no compensation for the coriolis effect on the air moving through it. His design calls for the air to rotate in the opposite direction....the prototype is due on the 9th, and it is kicking my butt

my stress level is through the roof

[i_got_a_mohawk]

Did you have it in contract that you would get the option to buy in 2.5 years?

Did you have any agreements that would have you reimbursed for any work you did to the house?

Can you approach the bank and see if they would be willing to auction the house seperately?

[PSPookie]

Sounds like it was never really your house in the first place.

The situation surely sucks, but how much of that is caused by thinking the house was yours when it was not?

[pacojas]

sorry to hear this crap, Lee.

you should sue the landlord and negotiate with the bank to split up the land like mohawk suggested. i would suspect the bank would be better off in the long run. gl

[i_got_a_mohawk]

Originally Posted by pacojas

sorry to hear this crap, Lee.

you should sue the landlord and negotiate with the bank to split up the land like mohawk suggested. i would suspect the bank would be better off in the long run. gl

Surely he only has grounds to sue if there was a contract? Also, is there much use in suing someone who has no money?

Have to agree with PSPookie that it wasn't sensible to assume the house was going to be yours, without actually owning it.

[P. Aaron]

If the owner has not paid taxes or the mortgage in over a year, it sounds like the home is going to or is in, foreclosure. That means the bank has the deed and will eventually hire a realty firm to facilitate a sale in parts or whole for the property.

Any equity this guy said he had in the property is gone...if it is bank owned.

All I could suggest is that you try to contact the bank that owns the lien, and see if you can make a deal for the property you want. It may net the bank more than a foreclosure sale would...so you my have a chance there.

If your lease and any extensions have expired, in most states, the owner (the bank) has to give you some notice to quit the premises.

Your only chance is to try and talk to the bank, the loss-mitigation department, if notice of foreclosure was tacked to the door ( typical in most states). There may be a law firm's name on the notice, they may be able to help you with contact info for someone at the bank.

Sometimes, they ignore such inquiries...as frustrating as it is.

[Chebass88]

Surely you don't mean **wring**?

[Time Monkey]

That sucks, man. Definitely try and get ahold of the bank and work something out. They are going to make more off you than they would a forclosure auction or short sale, so I don't see why they would not go for it.

Good luck.

[PSPookie]

Originally Posted by Time Monkey

That sucks, man. Definitely try and get ahold of the bank and work something out. They are going to make more off you than they would a forclosure auction or short sale, so I don't see why they would not go for it.

Good luck.

Talking to the bank is definitely the way to go. They have a strong financial motive to work with you.

[Lee H]

yes...I did have a binding contract, which included any home upgrades as to be mine for the purpose of sale, but a foreclosure superseded any pending sale contract... My upgrades (stainless steel appliances and such) were to be mine, and labor for installation was to be taken off final agreed upon sale price

I have since found out that posting notices of foreclosure were put on my door. But as I said before, the landloard lives on an adjoining property. he saw them being posted, and removed them before I got home from work

[pacojas]

i understand he has nothing to sue for, but for the contracts he broke. doesn't a judgement against a defendant hold up against him obtaining future loans, credits, etc?

it's better than going to jail for pistol-whipping his butt!

i'm more asking, than saying...

[Southpaw5]

Originally Posted by Lee H

I have since found out that posting notices of foreclosure were put on my door. But as I said before, the landloard lives on an adjoining property. he saw them being posted, and removed them before I got home from work

Wow, that's really low. what a scumbag.

Doesn't this fall under some sort of failure to notify on the part of the landlord?

Any lawyers in the house?

[fourstringdrums]

Originally Posted by Southpaw5

Wow, that's really low. what a scumbag.

Doesn't this fall under some sort of failure to notify on the part of the landlord?

Any lawyers in the house?

+1 This was my thinking. I have a feeling some legal action may be in your future.

[Munjibunga]

Originally Posted by Chebass88

Surely you don't mean **wring**?

Thanks. Now I don't have to be "that guy."

[Lee H]

I think I said something in the original post about lack of sleep, and forgiving spelling or grammar errors

[snappytom]

If his properties are in foreclosure your former landlord no longer has any negotiating power. Douftful he has any interest in helping you, any "deals" he offers are to put $$ in his pocket.

Get legal representation that you trust and use the mechanics of the legal system to get what you want from this situation. Sounds like the foreclosure is on a single note that covered several properties. Once the bank owns them I doubt they would try and sell it as a package deal. Residential property will most likely be dealt with as individual parcels of land.

[gttim]

You need a lawyer, not advice from a bass forum. You may have recourse. A lawyer may be able to negotiate with the bank, so they can avoid a lawsuit tying everything up.

[lucas vigor]

I don't see what the problem is. This is business, and in business, to the victor goes the spoils! The market determined that you don't get the house.

[Tsal]

So what happens if you take the contract to the court? Can the bank still go ahead and sell the whole property while the case is there? That they offer a sum of money tells that they want you out the easy way, I'd guess, but I have no idea how things work around there.

[Lee H]

Originally Posted by gttim

You need a lawyer, not advice from a bass forum. You may have recourse. A lawyer may be able to negotiate with the bank, so they can avoid a lawsuit tying everything up.

you are right, and I do have a lawyer working on this...
the post here was a rant, just to blow off steam for my own sanity. I was really ready to hit someone earlier, and that is never a good place to be in...Reasoning skills deteriorate when you are as angry as I was...

right now, it seems that a lawsuit may be my best recourse. My contract, and CA state law allow for me to stay in the house, as per my lease agreement, for another 6 months, possibly more.
The bank will not even be able to list the property during that time, or for however much longer a lawsuit continues... A realtor representing the bank is supposed to come talk to me....It is a long shot, but I still may be able to negotiate with the bank for a purchase price. The fact that I can tie it up for an extended period works in my favor