Legal Question in Real Estate Law in Virginia

Rent to Own Issue

We were doin a lease to own agreement for 248950, with a 12 mnth lease initially. We attempted to purchase the home in the first month and were unable to close due to the seller not being able to come up with their funds. The seller now comes back and says that we will have to purchase the home for 260000 and we do not agree and we now have another home we would like to purchase. we have not recieved a ratified lease agrmnt since the failed close and want to give our 30-60 day notice so we can move to a new home. Is the initial lease agreement still in effect or are we now considered month to month tenants? Is there anyway we can get out of the lease, giving a 30-60 day notice?


Asked on 11/10/08, 7:09 pm

1 Answer from Attorneys
Michael Hendrickson Law Office Michael E. Hendrickson

Re: Rent to Own Issue

Given the owner's various apparent defaults to date, it would appear that the original lease may now be null and void, but to be certain you should have an attorney review a copy of this lease and the surrounding relevant facts.

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Answered on 11/10/08, 7:56 pm


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