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  #1  
Old 05-29-2007, 11:29 AM
pman5412
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Default land contract vs purchase agreement

I bought my home under a land contract. I am currently obtaining a mortgage loan and a purchase agreement has been written up and signed by both parties. would the conditions of the land contract still be in effect if the mortgage has been approved or would the new purchase contract take precedence? The closing was seemingly delayed (by about one week) by the person we are buying the house from, resulting in the closing, more than likely, happening after the next house payment is due.

The answer might save a lot of problems.
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Old 05-30-2007, 06:34 AM
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It really may depend on how the contracts read. I would suggest that you speak with your real estate agent. He or she should be able to clear this up for you.
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Old 05-30-2007, 06:56 PM
pman5412
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unfortunately there is no agent to consult with.

also, just found out, from my mortgage broker, today that the seller conveniently forgot to bring me the last 3 pages of the purchase agreement to sign delaying me, yet again, another week.
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Old 06-01-2007, 08:06 AM
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You may want to speak with an attorney then. You can locate one through the attorney locator on Lawinfo's home page at http://www.lawinfo.com/. Some do offer free consultations.
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Old 06-03-2007, 02:19 PM
pman5412
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sounds like a good idea...thanks for the help
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