Selling our house for $80,000 and the seller also signed a $32,500 promissory note. He’s not going to pay the note. What are we going to do?
We are selling our home/farm for $80,000 and the seller has also signed a private bill to my sisters and me who are joint owners of the property for $32,500. He had carried out an estimate, and it was less than the amount that he and we decided on. Now he can’t get a $32,500 note loan. The property is still in jeopardy, so he’s been holding the sale until he gets the loan. Since he can’t get the loan, he’s not going to pay the bill. What should we do about it?