Option to purchase delayed buy seller past deadline

Option to purchase delayed buy seller past deadline

Member since 2020 · 3 posts · 0 votes

So we entered a contract to purchase a house paid rent on it for 2 yrs with option to purchase had to purchase December 2019 and since June we have emailed texted and called about doing purchase was needing payoff amount to give to bank. The seller responded to one message asked if we had financing and I told him that’s why we needed the payoff amount so we could finalize. Said he was out of town for two weeks would get it when he was in town, nothing in September texted and called again nothing from seller and again the same thing in October and again in December got a response that he would get payoff now it’s January and past the due date to pay for home under purchase option and we had the funds already and told him so and was ready to get cashiers check to pay and now it’s too late and suppose to meet him today cause he saying we haven’t read the contract which I think he going on the past December and past the deadline now but not at our fault we had the funds and he knew that but he wouldn’t respond. And we had went buy his office two times and his office is not at that location any longer. What can I do. We have paid out 20,000.00+ and done work on the property to improve it. 

0Reply
9 views

Most Popular Reply

Realtor · Ashland, OR (97520) · Member since 2019 · 22 posts · 31 votes
6y

I hate to say it, but you may want to call a lawyer. I hope you have a paper trail of all the correspondence.

See this reply in the discussion

6 Replies

Jump to latestLatest
  • Realtor · Ashland, OR (97520) · Member since 2019 · 22 posts · 31 votes
    6y

    I hate to say it, but you may want to call a lawyer. I hope you have a paper trail of all the correspondence.

  • Member since 2020 · 3 posts · 0 votes
    6y

    Yes me and my wife have all texts and emails that we have sent to him 

  • Realtor · Ashland, OR (97520) · Member since 2019 · 22 posts · 31 votes
    6y

    They have breached the contract so you could seek legal counsel. Although, you could try one more thing first. Write an addendum to the contract that extends the timeframe in which you can purchase the property. When you submit the addendum you could include a few pieces of the paper trail which show you have some evidence for a case. I would keep this message very cordial. Then if you still don't get a response you could mention that you'll be talking to a lawyer. That statement alone might make the seller reconsider messing with you.

    I'm so sorry that you're going through this @John Hall. I hope you get it sorted out in a smooth manner. :D

  • Member since 2020 · 3 posts · 0 votes
    6y

    Yes no kidding as I said he was suppose to come by to talk about what he was referring to in the contract but he didn’t show up texted and called once again asking for him to explain what it was no reply to either so yea I’m guessing a lawyer is in the next steps. And thanks for reply 

  • Investor · Bethel, AK · Member since 2013 · 1k+ posts · 852 votes
    6y

    @John Hall. I’m not sure but there are federal regulations about a rental agreement that includes a purchase agreement. I wouldn’t try to amend a contract that is in violation of federal law. I would go to a lawyer first. I think the federal rules strictly forbid rent to own contracts and I think you are finding out why. RR

  • Realtor · Ashland, OR (97520) · Member since 2019 · 22 posts · 31 votes
    6y

    @Ralph R. Wow, Ive never heard of that. I will definitely be looking into it. Learning new things daily! Thank you, Ralph!

Join the conversationCreate a free account to reply, vote on answers and follow this thread.