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Posted by dennis_nj on December 07, 2001 at 17:04:03:

In Reply to: rent to own agreement posted by michael stanley on December 07, 2001 at 15:56:33:

: in january 2001 i entered into agreement with landlord to rent a condo in california,with an agreement in writting that i am buying the condo . the purchase price was $130k monthly rent was $1025.00, with $900 going towards the purchase of the condo. the remaing $ was to be rent on the condo, for waiting for my loan procedure. 4 months went by and landlord decided that she would pay too much $ in taxes if she sold her condo right now and said she was not going to be selling me the condo. i have not paid any rent on this condo in 30 days now and she is suing (unlawful detainer) me to pay rent. what can i do?

michael,
probably the worst thing you could do right now is NOT pay rent. assuming you still want to buy the condo, check your agreement to see if there are any contingencies to the agreement (doubtful that 'll will pay too much taxes' would be one). sometimes, the agreement is dependant on the rent being paid on time, every month. how long do you have to obtain financing for the condo? at this point, the owner has no choice but to sell you the condo, assuming all contingencies are met. if she refuses, you'll have to sue her to force her to sell it to you, or get her to buy you out of the agreement. check those contingencies!

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: : in january 2001 i entered into agreement with landlord to rent a condo in california,with an agreement in writting that i am buying the condo . the purchase price was $130k monthly rent was $1025.00, with $900 going towards the purchase of the condo. the remaing $ was to be rent on the condo, for waiting for my loan procedure. 4 months went by and landlord decided that she would pay too much $ in taxes if she sold her condo right now and said she was not going to be selling me the condo. i have not paid any rent on this condo in 30 days now and she is suing (unlawful detainer) me to pay rent. what can i do?

: michael, 
: probably the worst thing you could do right now is NOT pay rent. assuming you still want to buy the condo, check your agreement to see if there are any contingencies to the agreement (doubtful that 'll will pay too much taxes' would be one). sometimes, the agreement is dependant on the rent being paid on time, every month. how long do you have to obtain financing for the condo? at this point, the owner has no choice but to sell you the condo, assuming all contingencies are met. if she refuses, you'll have to sue her to force her to sell it to you, or get her to buy you out of the agreement. check those contingencies!  


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