Arizona - Questions About Paperwork Used to Sell Me a Home Rent to Own

[coyotegal]

What is the name of your state (only U.S. law)? Arizona


Hello, can anyone tell me if it is legal to use only an assumption/carryback addendum without a purchase contract in a rent to own situation. the owner owns it free and clear.

Also, would it be normal to include a 'rental agreement' along with the assumption/carryback addendum that says the owner is lending us x amount to buy thier property.

I am thinking a rental agreement is improper paperwork to use in this situation. I'm also thinking the
assumption/carryback addendum is useless without the purchase contract and that even so, the owner is selling me the house that he owns free and clear.

Would not a land contract or even a lease with option be more appropriate?

I think the guy is out to rip me off...

I've never bought a home before and didn't know much about it when I signed the papers. And when I contacted the seller to see how to do the deed of trust and promissory note, as per the assumption/carryback agreement, he said it was not necessary. I say something is rotten in Denmark.

Thoughts anyone?

 

[quincy]

What is the name of your state (only U.S. law)? Arizona


Hello, can anyone tell me if it is legal to use only an assumption/carryback addendum without a purchase contract in a rent to own situation. the owner owns it free and clear.

Also, would it be normal to include a 'rental agreement' along with the assumption/carryback addendum that says the owner is lending us x amount to buy thier property.

I am thinking a rental agreement is improper paperwork to use in this situation. I'm also thinking the
assumption/carryback addendum is useless without the purchase contract and that even so, the owner is selling me the house that he owns free and clear.

Would not a land contract or even a lease with option be more appropriate?

I think the guy is out to rip me off...

I've never bought a home before and didn't know much about it when I signed the papers. And when I contacted the seller to see how to do the deed of trust and promissory note, as per the assumption/carryback agreement, he said it was not necessary. I say something is rotten in Denmark.

Thoughts anyone?

A lease with option to buy is what I am most familiar with (with the purchase potentially being by land contract when the lease term is up, if this is what makes the most sense for you financially), but I strongly recommend you get legal assistance and do not sign anything without an attorney's review.

A home is too important a purchase for you to try to fumble your way through it on your own, especially if this is your first home.

Good luck.

 

[coyotegal]

A lease with option to buy is what I am most familiar with (with the purchase potentially being by land contract when the lease term is up, if this is what makes the most sense for you financially), but I strongly recommend you get legal assistance and do not sign anything without an attorney's review.

A home is too important a purchase for you to try to fumble your way through it on your own, especially if this is your first home.

Good luck.

It's way to late for that... I am already 2 years in the home. I have had problems with the owner from the beggining. He tried to evict me , but I did the research and I got his eviction dismissed because of the papers I mentioned above. The judge told him it wasn't in his jurisdiction and therefore, he couldn't hear the case, as there is a question to title since I made a down payment, he can't rent the house to me if he is selling it. IT was dismissed with prejudice. So I guess he will have to try to foreclose??

 

[quincy]

It's way to late for that... I am already 2 years in the home. I have had problems with the owner from the beggining. He tried to evict me , but I did the research and I got his eviction dismissed because of the papers I mentioned above. The judge told him it wasn't in his jurisdiction and therefore, he couldn't hear the case, as there is a question to title since I made a down payment, he can't rent the house to me if he is selling it. IT was dismissed with prejudice. So I guess he will have to try to foreclose??

?

Have you missed any payments on the home?

Your situation is confusing me. I think you need to sit down with an attorney in your area to have the "papers" you signed reviewed. It appears from what you have said that the sale of the house has been sorely mishandled and it will take some personal work in your area of Arizona to undo the mess that seems to have been created by the landlord/seller.

 

[coyotegal]

?

Have you missed any payments on the home?

Your situation is confusing me. I think you need to sit down with an attorney in your area to have the "papers" you signed reviewed. It appears from what you have said that the sale of the house has been sorely mishandled and it will take some personal work in your area of Arizona to undo the mess that seems to have been created by the landlord/seller.

I have missed payments because the seller would not accept them. I cant afford an attorney and have to handle my own case. I know, everyone is full of advice but until you walk a mile in my shoes, you won't understand. I can not afford to be represented by an attorney. The house isn't even worth what it would cost me to be represented. I've represented myself before and I have a good idea of how to maneuver the system. Your right about the sale of the house being sorely mishandled. The thing is, the man had us meet him at the only Real estate brokers office in town. She and he had made the paperwork and I know she knew better. The seller and the RE Broker grew up together 50 years ago.... and I think they have been doing this for a long time. They made up the dummy documents and had me go to her office in order to dupe me. When she handed me to papers to sign, I glanced briefly at the papers , assumed she (The real estate lady) would not try to rip me off and signed. It took me more than a year to figure out what they had done.
What they were trying to accomplish was getting a $2000 down payment (you can only get rent and a half for a deposit ..the payment here is 350.00) , get paid more rent than anyone else could possibly for any other house in the area, have us be responsible for the upkeep and have us pay the insurance and taxes (which you cant do to a renter in arizona) and more... he wanted us to think we were buying the home when all he intended was for us to rent it like the other 4 couples he burnt. Which is why he used an Assumption/carryback addendum AND a Rental agreement. He didn't think I would figure it out. No one else has, it's worked for him everytime, until now. Like the Judge said... you cant sell someone a house and then turn around and rent it to them, You either sell it or you rent it.

Theres way more to the story.

I am going to file a cause of action against him for fraud, misrepresentation, breach of contract, breach of good faith, for starters... I'm also going to include the broker. I have nothing to lose, either way, he is going to do his best to get all he can and I am going to do my best to stop him.

Keep in mind, the house is only worth 10,000.oo. Im way, way out in the boonies and its located in a dying town. It's not prime real estate or even sub prime real estate...lol

 

[quincy]

I have missed payments because the seller would not accept them. I cant afford an attorney and have to handle my own case. I know, everyone is full of advice but until you walk a mile in my shoes, you won't understand. I can not afford to be represented by an attorney. The house isn't even worth what it would cost me to be represented. I've represented myself before and I have a good idea of how to maneuver the system. Your right about the sale of the house being sorely mishandled. The thing is, the man had us meet him at the only Real estate brokers office in town. She and he had made the paperwork and I know she knew better. The seller and the RE Broker grew up together 50 years ago.... and I think they have been doing this for a long time. They made up the dummy documents and had me go to her office in order to dupe me. When she handed me to papers to sign, I glanced briefly at the papers , assumed she (The real estate lady) would not try to rip me off and signed. It took me more than a year to figure out what they had done.
What they were trying to accomplish was getting a $2000 down payment (you can only get rent and a half for a deposit ..the payment here is 350.00) , get paid more rent than anyone else could possibly for any other house in the area, have us be responsible for the upkeep and have us pay the insurance and taxes (which you cant do to a renter in arizona) and more... he wanted us to think we were buying the home when all he intended was for us to rent it like the other 4 couples he burnt. Which is why he used an Assumption/carryback addendum AND a Rental agreement. He didn't think I would figure it out. No one else has, it's worked for him everytime, until now. Like the Judge said... you cant sell someone a house and then turn around and rent it to them, You either sell it or you rent it.

Theres way more to the story.

I am going to file a cause of action against him for fraud, misrepresentation, breach of contract, breach of good faith, for starters... I'm also going to include the broker. I have nothing to lose, either way, he is going to do his best to get all he can and I am going to do my best to stop him.

Keep in mind, the house is only worth 10,000.oo. Im way, way out in the boonies and its located in a dying town. It's not prime real estate or even sub prime real estate...lol

Well, if you feel you can handle this on your own and you do not have a lot invested in the home, more power to you.

In addition to the advice I will continue to give you to have an attorney review the paperwork you signed and assist you with your proposed lawsuit (although I understand that you plan not to consult with one due to the cost), I also advise that you are careful what you say about the seller and the real estate broker. Do not accuse either of them of crimes publicly unless or until they are found guilty of these crimes.

As an additional note: Not reading legal documents before signing them is a mistake many people make, and it can be a costly one. No one should sign blindly, no matter how much trust you may have that everything is proper. I know this does you no good to hear this now.

Good luck.

 

[coyotegal]

Well, if you feel you can handle this on your own and you do not have a lot invested in the home, more power to you.

In addition to the advice I will continue to give you to have an attorney review the paperwork you signed and assist you with your proposed lawsuit (although I understand that you plan not to consult with one due to the cost), I also advise that you are careful what you say about the seller and the real estate broker. Do not accuse either of them of crimes publicly unless or until they are found guilty of these crimes.

As an additional note: Not reading legal documents before signing them is a mistake many people make, and it can be a costly one. No one should sign blindly, no matter how much trust you may have that everything is proper. I know this does you no good to hear this now.

Good luck.

I appreciate your advice. It's good advice. And yep, its true. I know now that I should have never signed without understanding every single term on any contract I become involved in. There is a lot more room for bargaining there... not so much, afterwords...

Still, they set me up with the intent to get more money than the house is worth. The most one pays for rent here is like a hundred... most of them live rent free. There are more empty houses than houses with people in them and its the town is in disrepair.

I think if the JP at the eviction knew the papers were not right and he dismissed the eviction, then an even more sophisticated judge should have no problem recognizing that no real estate person in their right mind would actually put that paper together, (unless she thought no one but her and the seller and buyer would ever see the papers, which is what she counted on.) Just to finally be able to have our say would be worth it...Thanks for the advice, etc...

 

[quincy]

I appreciate your advice. It's good advice. And yep, its true. I know now that I should have never signed without understanding every single term on any contract I become involved in. There is a lot more room for bargaining there... not so much, afterwords...

Still, they set me up with the intent to get more money than the house is worth. The most one pays for rent here is like a hundred... most of them live rent free. There are more empty houses than houses with people in them and its the town is in disrepair.

I think if the JP at the eviction knew the papers were not right and he dismissed the eviction, then an even more sophisticated judge should have no problem recognizing that no real estate person in their right mind would actually put that paper together, (unless she thought no one but her and the seller and buyer would ever see the papers, which is what she counted on.) Just to finally be able to have our say would be worth it...Thanks for the advice, etc...

I am afraid my advice was more to the you-in-the-past than the you-now, in my pointing out the should-have-dones in your situation, but I thank you for the thanks.

Without seeing the strange papers that the real estate broker and the seller apparently cobbled together for you to sign, it is hard to offer much else.

I think the work ahead of you will be challenging. Good luck.