CD buyers say they will sue me unless I....

I sold a house on a 6 month contract for deed in Minnesota. I spend a year remodeling it before they purchased it 1/1/2014.

Contract for deed is due July 1st, 2014.

They had it appraised, they said it appraised $5,000 less then I sold it to them for.

Now they called me and said I need to fix a leak in the roof and put up a hand railing on the (2 steps) up to a deck. The guy said he fell on the stairs and he is going to sue me for me more then the house is worth if I don’t come put up a railing and fix a leak in the roof.

The roof did not leak the entire year I remodeled the house. Now they say the neighbors said the roof was leaking before and that I should have fixed it. There was NO leak when I owned the house. I was there almost every day last year.

Basically they are upset that the house appraised for less then they signed the contract for and they are trying to get $5000 worth of work and repairs out of me.

sold house for $88k. Their appraisal came in at $83k. The county had it tax assessed market value at $77k before I remodeled it. So I figure it was worth at least $88k All new windows and interior completely redone and exterior completely repainted. 4 bd, 2 ba. 2 stall garage. big home.

I am scared about being sued.

What should I do? They are demanding me to tell them what day I will be over to fix the roof and put up a railing. I told him I don’t see any reason I should fix a leak in the roof when it never leaked when I owned it and when it was sold. He said if I don’t he will sue me for all of his medical bills, etc. from him falling on the step with no railing.

The guy said he did research and I can’t sell a house legally in Minnesota without a railing on the steps to the deck. The deck has a railing just the stairs didn’t. It was so low I didn’t realize it needed one.

confused…

do you have a balloon and they are supposed to pay you off by July1.

If that’s the case… you set this deal up for failure… and let them pay
you off for the 83k and move on down the road…

Or get another appraisal that shows otherwise…

Did you sell the house “AS IS”… do you have that written in your
contract…

If this deal is a full on contract for deed… and you still have title…
then… if they did file suit… you’ll lose…

Contract for deeds and Lease Options no matter what any GURU… tells
you… are still rentals… You still have title and therefore… it’s your job
to fix leaky roofs…

I switched to true owner financing… back in 2003… because of that…
Note and Deed Trust…

There are immoral sharks out there - be careful!

I carried paper for an owner of real estate companies and a broker.Years later, he wouldn’t pay interest nor the balloon payment.

Just sharing that someone being wealthy doesn’t mean that he will be honorable and trustworthy.