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A deal that went bad! Pls read this u wont believe this nonsense (Real Estate & Property Law)

Tue, 11 Sep 2007 15:25:00 GMT
Tags: believe, dread, estate, guambr, law, live, miserable, nonsense, pls, property, real, repeat, state, story, territory

What is the name of your state? I live in the U.S. territory of GUAM
Ok. Ok where to begin? I dread having to repeat such a miserable story, but I must in order to receive the advice I so desperatlely need at this point.
A year ago today....with the desire to want to 'move on' with my life, I decided to sell my 1 bdrm condominium for the amount of $80,000 to the right buyer. I owned this condo for 10 years, as it was a 'gift' (deed of gift) from my father back in 97. It's location is situated in a prime area , close to the beaches and tourist district on our island. Tumon Bay to be exact.
Although much of agreement was VERBAL , and not in writing, I, being the gullible fool ( I am learning NOT to be), chose to sell my unit to a woman whom I thought had good intentions that I agreed with. I had a couple other "potential" buyers, but it was this woman whom I felt deserved to buy my condo, and simply because of the son she was buying it for. Actually, this "son" had just joined the service and she was to act on his behalf (with a power of attorney) while he was away in basic training. I met her son, and felt his passion and desire towards owning my unit. I felt more compelled to sell to these two more than anyone else. Little did I know, this was the beginning of a deal gone really REALLY bad.
This is where the VERBAL part comes in. Verbally, we agreed that a deposit of $10,000 would be made within that week and the remainder to close within 3 months. She had asked for the title to be transferred to her son's name so she would be able to get financing from her employer. Her employer, by the way, owns properties on Guam, which they rent. A condo purchase agreement was made up, stating the amount of $10,000 to be paid. That amount became only $5,000. And the agreement still remained: that the balance would be paid within 3 months. Why I signed over the title at that point, I DON'T KNOW. But read on here.
It's been exactly a year now. She has only paid me a couple thousand here and there and has been 'stringing me along" so to speak. I have always given her beneifit of the doubt and trusted in her abilities. She has not come through with her end of the deal. She still owes me over $60,000 to date! I am hurting here. My intention to move on with my life, has only kept me falling farther behind.
I have seen a lawyer recently about this. He told me that he can sue them. At the same time, he has asked me if I would be able to reimburse them the amount they have paid me in order to get my title back and , to be quite honest, I don't think I am able to! I have no money to do this. I am not even sure how I can afford a lawyer to begin with.
Another issue here, is that over the months, she has told me that they have made a few repairs to the place, like tiles and electrical, also termite repairs, etc. I never asked her to do this to begin with. I figure it might be a stalling tactic. I don;t know. But, a few months back, when I asked for the amount she spent on the repairs (so i could reimburse her if she let me proceed with trying to sell the place to someone else)....she never could give me an answer. It's been a year now, and no one has been residing in the unit, and yet, nothing has been done (besides the work mentioned). She and I agrred VERBALLY (again) that she would take care of the monthly association fees, which are only $175 per mo. and I see that she has fallen behind on the last 6 or 7 months. Now the association has placed a SUMMONS in the local paper with their names on it, and MY unit number and I am afraid I may lose my condo over just the unpaid associaiton fees if nothing is done. It is now under THEIR names and not mine, but I own this condo more than they ever could at this point. They haven't even paid me a third of what I was expecting! This whole thing is ridiculous, and its even more ridiculous to have to type this out for you to read! Someone PLEASE give me the advice I need. I need my condo back**.....the title**.....and the chance to move on with my life as intended.
Questions: 1. What can my lawyer sue her for?
2. Do I really have to pay back the total amount she has paid me thus far and
for so-called 'repairs' that weren't even part of the deal? After all this hardship
WHY DO I STILL NEED TO REIMBURSE HER?
3. How can I seek legal assistance if I have no money? If I sold my condo, I
wouldn't be broke!
4. Is there any hope for me? TELL ME!What is the name of your state?

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  • Fri, 14 Sep 2007 21:03:00 GMT(1)

  • Quote:

    Originally Posted by moburkes

    I'm curious where you got this information. What is the definition of fraud in Guam?

    **A: I'll be waiting to hear the answer.
  • Tue, 11 Sep 2007 15:26:00 GMT(2)
  • You begin by putting more white spaces, and less words.
  • Fri, 14 Sep 2007 18:35:00 GMT(3)
  • I am sorry everyone else is being so rude to you. You really have a big problem here. I am not a real estate lawyer, and don't know anything about the laws of Guam. But here is my 2 cents.
    If the buyer never intended to pay, they may have committed fraud. Maybe you should ask your local solicitor or DA (whatever they are called in Guam) to look into criminal prosecution.
    If that doesn't work out, you need for a lawyer to look into this for you. It could be that the buyer has put a number of liens on the property, in which case you have even more problems. You may also find that the buyer is insolvent, and that you cannot recover anything. If you can't afford a lawyer, they might accept the case on a contingent fee basis, if allowed under Guam rules. If you pay a contingent fee, you may at least get something, which is a whole lot better than nothing.
    The possible saving grace is that the property was transferred to another person besides the woman that promised to pay. Have you talked to that person or a responsible representative? Perhaps they have assets you could pursue.
  • Tue, 11 Sep 2007 18:00:00 GMT(4)

  • Quote:

    Originally Posted by moburkes

    You begin by putting more white spaces, and less words.

    **A: good one.
  • Fri, 14 Sep 2007 18:39:00 GMT(5)

  • Quote:

    If the buyer never intended to pay, they may have committed fraud.

    I'm curious where you got this information. What is the definition of fraud in Guam?
  • Fri, 14 Sep 2007 18:59:00 GMT(6)

  • Quote:

    Originally Posted by docdiamond

    The possible saving grace is that the property was transferred to another person besides the woman that promised to pay. Have you talked to that person or a responsible representative? Perhaps they have assets you could pursue.

    You are exactly wrong on this. That is NOT a saving grace, that is a severely complicating factor.
  • Wed, 19 Sep 2007 16:31:00 GMT(7)
  • Thanks for your "2 cents" which made a lot of sense.
    I cannot answer your questions just yet, I need to look into it (for GUAM).
  • Tue, 11 Sep 2007 15:32:00 GMT(8)
  • Oh I am so confused. Did she not buy your property and have a closing?
    Sounds like you just sold to someone who will make the payments, yet you are still liable for the bill.
    Not a good call on your part.
  • Leave a Comment Now.

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