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Landlord backing out of option to buy; wants us out in 4 days!!!

Posted by Mark Smith on August 27, 1999 at 15:08:12:

In Reply to: help!! Landlord backing out of agreed option to buy wants us out in 4 days!!! posted by M Gleason on August 27, 1999 at 14:08:13:

Where do you live? In New York, the landlord would have to go to court to evict you, and getting at least another month in the house wouldn't be that difficult.

Your landlord doesn't seem to know what he wants. Asking you to decide, within 9 days, if you want to buy the house, without an agreed upon purchase price, is a little strange. Negotiating with you on a purchase price until August 20th isn't unusual, but expecting you to get a mortgage and close by August 31st is unreasonable.

If your landlord takes you to court, the judge might "persuade" him to go through with the sales contract and closing, if you still want to buy the house.

If I were you, I would start or continue to look for another house to buy or to rent, possibly with an option to buy. Get a real written option, where the option states (1) the purchase price, (2) a certain percentage of the rent is applied toward the purchase price, and (3) how and by when you have to notify the landlord that you are exercising the option.

: We have a 6 month lease at single family residence, ending August 31 1999.
: Received letter from owner/landlord dated July 22,1999 stating he required
: us to be out by August 31, 1999 unless we wished to purchase the home, if so
: we needed to notify him by July 31.
: We decided to purchase the home and made him aware of this. We began
: financing approval process, had bid negotiations on August 20 th and came to
: an agreement on a price. We submitted a purchase agreement and closing
: documents to him on August 26, ( thought they were his responsibility!
: anyway) Now he is saying process will take to long (30 day closing)and he
: wants the home and us out in 4 days!!! Don't we have any rights since he
: offered and continued the option process for us to purchase the home.
: Please someone help!!! We can't be out in 4 days, children in school,
: moving and storage costs haven't secured new residence because of option
: o

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