Sold a home with 2 liens...

[Kelley]

In March-2002 we sold a home AS-IS which had 2 liens in the amount of $1400. The buyer bought the and we signed papers on March 30, 2002 (approx.) because the house was going into forclosure on April 02, 2002. After we signed off on the house the buyer wanted us to sign a promissory note for the $1400, otherwise, he was not going to buy it and the deal was going to be off and we go into forclosure then lose the house. We had went ahead and left a newer refrigerator (valued at $400 apx) and a home gym (valued at $2500 at least) at the house, as well as drop the value of the home $13,000. for them to take the home off of our hands with the understanding they buy the home AS IS. They now want to take up to small claims court for the $1400. 1) can they sue us for the $1400 2) we feel that we signed the promissory note under duress and false pretenses-is this something that we can fight back with???
Needed urgently...
IAH

 

[charlesesq]

In March-2002 we sold a home AS-IS which had 2 liens in the amount of $1400. The buyer bought the and we signed papers on March 30, 2002 (approx.) because the house was going into forclosure on April 02, 2002. After we signed off on the house the buyer wanted us to sign a promissory note for the $1400, otherwise, he was not going to buy it and the deal was going to be off and we go into forclosure then lose the house. We had went ahead and left a newer refrigerator (valued at $400 apx) and a home gym (valued at $2500 at least) at the house, as well as drop the value of the home $13,000. for them to take the home off of our hands with the understanding they buy the home AS IS. They now want to take up to small claims court for the $1400. 1) can they sue us for the $1400 2) we feel that we signed the promissory note under duress and false pretenses-is this something that we can fight back with???
Needed urgently...
IAH

You should have the issue of liens and other guarantees within your contract of sale (and frequently within the rider.) What does it say, if anything, concerning the liens? The AS-IS characteristic you mention is usually with regard to the condition of the home and personal property being sold with the home, not whether it has encumbrances.