Legal Question in Real Estate Law in California
Owner renig on lease option to buy
I had a lease option to buy agreement
with an owner for a propery I'm living
in. When the 24 month option was up I
had my loan officer submit to him our
pre-approval. He claimed to be out of
town until the day after the agreement
expired. He then claimed that I was out
of contract and he was unable to honor
our agreement or return the initial
money $5000 that I paid him for the
agreement. I'm still living in the
property.. what are my rights?
3 Answers from Attorneys
Re: Owner renig on lease option to buy
Get your paperwork to an experienced attorney and sue for specific performance.
Good luck.
Very truly yours,
Re: Owner renig on lease option to buy
What does the written agreement require to exercise the option?
Re: Owner renig on lease option to buy
If you can prove you were ready, willing and able to close the transaction in time, you can sue for specific performance. That is, you can sue to enforce the contract even though it has expired. You should move quickly to file and record a notice of action on the property so the current owner cannot sell to anyone else. My rates are very reasonable and I have experience in this area of the law.
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