Sale never closed but valid Purchase and Sale agreement and Promissary note.

Asked over 5 years ago - Seattle, WA

Two years ago I signed a P&S Agreement with a promissory note. Seller was agent and lender too. I have been paying on 30yr note - payments are about $500 month more than rent would be. Inexperienced I now realized that this transaction never went to closing. House is still in her name (deed). I now want out of the deal - can I get out? There was no lease with option to buy but there was a rental agreement with everything signed but the money amount for rent was left out. I think the agent acted very unethically. Please help.

Things I signed:
Promissory note for 30 year loan.
Rental agreement with no amount in agreement for monthly rent.

Like I said - the house is still in her name and never went to closing or escrow.

Attorney answers (1)

  1. Shawn B Alexander


    Contributor Level 20

    Answered . This sounds fishy and you will need to take your paperwork to a real estate lawyer in King County pronto. This sounds like an land sale contract and the seller should have signed a deed and put it in escrow for the final payment and have it recorded. If nothing else you need a title report ASAP.

    Good Luck

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