In the home lease to purchase option, can the leasor decide not to sell after you sign the option to buy?

Question

If we make improvements in the house during a lease to own can the leasor decide not to sell it to us and keep those improvements for himself?

Answer 1

It depends on the terms of the contract and whether or not the contract addresses what would happen regarding imporvements if the leasor decided not to sale? If this is not explicitly defined in the contract then you can take the leasor to court and either compel the sale of the property or gain reimburstment for the improvements for the home equal to the labor and materials.

Answer 2

The answer depends on what's written in your lease purchase contract.

If you simply have an option to buy it at the end of a certain period then it would seem logical the seller would have the option to not sell too.

Your option agreement will dictate who gets to do what and when.

Answer 3

you may no longer circulate the call with out paying the very own loan off, yet you've gotten a hire purchase contract that states you will pay off the very own loan while the customer secures financing ... which will all ensue at remaining. you ought to confirm what share of the hire charge will pass in direction of significant (down charge) if the customer does purchase, and set up the advertising cost.

Answer 4

I would say not if he has signed a contract. They are for both sides. This time, it should protect you. I for some reason, he can get away with not selling, I would make sure one way or another that you get your money back for the improvements you've done.

Answer 5

Those details are covered in your contract. You need to read it carefully.

If you do not understand it, seek legal advice.

Answer 6

He can't back up if he signed the contract....