Consumer Law, Warranties seller wanting to sell on a contract for deed

[skohn78]

We signed a contract for deed on a business 11 months ago. Now the seller wants to sell to someone else so he can get out of the business. We don't want to deal with anyone else now, we want out of the contract. We have put $100,000 in the business and are not making any money. Can we just get out of the contract by not paying our "rent" and him evicting us without a court battle? We put $20,000 down and have made monthly payments up until MArch when we found out he was wanting to show the property to other potential buyers and we haven't paid April's rent yet either. We recieved a notice of acceleration and have 30 days to come up with $290,000, we don't want to buy the business now, we have LOST money in the business. Can we just get by with not paying the rent payments and get evicted?

 

[seniorjudge]

No one can answer your questions without reading the contract.

But I do know this: You are much better off if you can negotiate a settlement. Tell the person you have no more money and have to close down the business.