In March I purchased a home on land contract terms to be closer to family. Moving to Middlesboro, Kentucky was to be closer to family due to my child's illness.
As agreed by the seller, Scott, I placed $20,000.00 down and agreed to $423.64 monthly until the remainder of the balance of $42,500.00 was paid off. My son's condition required more care then that part of Kentucky was able to offer and so 7 months later there was no other choice to have to relocate.
When I sat down with Scott to explain that I needed to opt out of the land contract he expressed that if he had not otherwise invested the money that he would have returned my nest egg. Not so easy to hear considering that I worked to save the money to buy a home for my family then have to walk away from my savings.
I have emailed Scott to try and see if he could return even a portion of the money without ever hearing back from him. So now my family is struggling to get by here while Scott has the nest egg that I worked so hard to gather together. He has since sold the home.
The house was listed for $69,000.00 fully furnished. Funny how he couldn't return any of my nest eggs but was able to redo the inside of the home (carpeting, flooring, counter tops, and furniture).
Later on I received paper work informing me of a tax lien that was on the property for $8603.18. That is where a portion of my nest egg went. A portion of it went to bring Scott out of debt.
So while he is making a profit and redoing homes I'm struggling to get by. He could have returned the down payment. I paid in total $22,968.00 for a home I lived in and took care of for 7 months.
I trusted the wrong person. Here I thought this was a honest man just looking to help someone down on their luck out. Boy was I wrong. He seen this single mom of 3 kids and instantly saw his way out of debt.
Now I'm out the $22,968.00 and am working to try to make ends meet for my family. And he essentially makes $89,000.00 of the house that had more problems then visible.
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