What is the name of your state (only U.S. law)? Minnesota
I am asking on behalf of my parents for some advice. A little background There is a lot next to my parents house that has a very small 20'x20' house on it. The owner a older gentleman in his 80's has lived there since my parents moved in, in 1985. My Dad only has a one stall garage and has asked a few times if he could purchase the land next to him to build a shop and allow the the man to still live there. My Dad previously always would do all his yard work help him with anything he needed like a bad light bulb in the house etc. etc. you get the picture. Even though he would not sell he always told him verbaly he wanted him to have the land when he dies. In 2004 he passed on and the closest relative he had was a Niece who was a older women in her late 60's. She stopped by mentioned that her Uncle always wanted my Dad buy the land and distribute the money through the family.
What ended up happening back in 2004 as my Dad was getting the approval from the bank they sold the property to a distant relative under him. Nothing was ever written that the property was promised to my Dad. The new owner had no idea of the past and said he only planned to live there a couple years and would let my Dad know when he was ready to sell.
Fast forward to just last week. The guy was ready to sell and stopped by. They both agreed on a price but this time my Mother made up a purchase agreement on the computer including in it was the price that they agreed on and my Dad and the current owner both signed it also a neighbor signed it as a witness. My Dad went and got the approval for the loan and it is just being tacked onto his current mortgage so since he basically refinancing it will be 6 weeks until he gets the money to the owner. Just now 4 days after they signed the paper the guy claims he has a friend that offered him 3 thousand dollars more than what they agreed on and that is the price he really wants.
Now my Dad is a nervous wreck, he wants this preoperty real bad and now feel it is slipping away again. Is the paper they signed proof enough to buy the house without worrying about him backing out? If not is there more we can do? Thanks in advance.
I am asking on behalf of my parents for some advice. A little background There is a lot next to my parents house that has a very small 20'x20' house on it. The owner a older gentleman in his 80's has lived there since my parents moved in, in 1985. My Dad only has a one stall garage and has asked a few times if he could purchase the land next to him to build a shop and allow the the man to still live there. My Dad previously always would do all his yard work help him with anything he needed like a bad light bulb in the house etc. etc. you get the picture. Even though he would not sell he always told him verbaly he wanted him to have the land when he dies. In 2004 he passed on and the closest relative he had was a Niece who was a older women in her late 60's. She stopped by mentioned that her Uncle always wanted my Dad buy the land and distribute the money through the family.
What ended up happening back in 2004 as my Dad was getting the approval from the bank they sold the property to a distant relative under him. Nothing was ever written that the property was promised to my Dad. The new owner had no idea of the past and said he only planned to live there a couple years and would let my Dad know when he was ready to sell.
Fast forward to just last week. The guy was ready to sell and stopped by. They both agreed on a price but this time my Mother made up a purchase agreement on the computer including in it was the price that they agreed on and my Dad and the current owner both signed it also a neighbor signed it as a witness. My Dad went and got the approval for the loan and it is just being tacked onto his current mortgage so since he basically refinancing it will be 6 weeks until he gets the money to the owner. Just now 4 days after they signed the paper the guy claims he has a friend that offered him 3 thousand dollars more than what they agreed on and that is the price he really wants.
Now my Dad is a nervous wreck, he wants this preoperty real bad and now feel it is slipping away again. Is the paper they signed proof enough to buy the house without worrying about him backing out? If not is there more we can do? Thanks in advance.
