wolfthing2000
Member
What is the name of your state (oregon)
I am the petitioner in this case. Due to the real estate market being real slow to sell land right now, things had to get creative with a buyer to get this deal done.
The offer from buyers spreads payment for the properety over one year and then after escrow closes in one year, they get possession of title. ( Lease option format )
first payment is 10,000 into escrow this month and another 10,000 in three months etc. and a baloon payment at end of a year. The mortgage gets payed out of escrow until it can be payed in full at the end.
Question is this: There is a settlement that reads like this in final decree :
" Proceeds of sale of properties: From the proceeeds of the first property to sell or both properties should proceeds not be sufficient from the first property to be sold, Petitioner will pay to Respondent the sum of 8,750.00 without interest as the agreed payment for her equity in all motor vehicles awarded to Petitioner herin."
When would there be considered the proceeds to pay her? At the end? or incrementaly with the instalments?
Are proceeds legaly considered net yield or gain after the sale and expenses of that sale?
She has the offer in her court now. I agreed to it. I signed the agreement of offer. She is having it checked by her attorney . The problem is that the offer is only good for a 48 hour period and there is only 24 hours left. She was slow to respond****************************her concern is getting her money.
How should this judgement be interpreted?
I am the petitioner in this case. Due to the real estate market being real slow to sell land right now, things had to get creative with a buyer to get this deal done.
The offer from buyers spreads payment for the properety over one year and then after escrow closes in one year, they get possession of title. ( Lease option format )
first payment is 10,000 into escrow this month and another 10,000 in three months etc. and a baloon payment at end of a year. The mortgage gets payed out of escrow until it can be payed in full at the end.
Question is this: There is a settlement that reads like this in final decree :
" Proceeds of sale of properties: From the proceeeds of the first property to sell or both properties should proceeds not be sufficient from the first property to be sold, Petitioner will pay to Respondent the sum of 8,750.00 without interest as the agreed payment for her equity in all motor vehicles awarded to Petitioner herin."
When would there be considered the proceeds to pay her? At the end? or incrementaly with the instalments?
Are proceeds legaly considered net yield or gain after the sale and expenses of that sale?
She has the offer in her court now. I agreed to it. I signed the agreement of offer. She is having it checked by her attorney . The problem is that the offer is only good for a 48 hour period and there is only 24 hours left. She was slow to respond****************************her concern is getting her money.
How should this judgement be interpreted?
