Expert: Dick Dennis - 10/2/2007

Question
I am selling my home today. I am a little concern about the information presented in the deed and promissory note. We agree that the buyer would pay 50% up front and 50% 6 months from now. This is clear in the promissory note, however, the deed shows only the 50% that is being paid up front. I asked about the 2 conflicting amounts and the explanation was that the buyer didn't want to pay additional taxes if he did not have to. The second payment will not be until March 2008. What should I do? Is this legal?

Answer
It is obvious to me that the perosn who filled out those forms is not an attorney nor a Realtor, Carol. If the buyer is buying the property, whether he is putting 50% down or 5 cents down, he still has to pay the WHOLE TAX BILL when it comes due. The promissory note AND the deed must say the exact same terms or there is no valid transaction. I strongly suggest that you take this to a REAL ESTATE attorney to make sure you understand what is transpiring. I do wish you well.

Dick Dennis            dixiedee13@aol.com