View Full Version : Purchase option
Evie66
Aug 20, 2009, 12:40 AM
We were in a purchase option agreement. We were late paying our money by the 1st. The builder sent us a letter saying we no longer have a contact with them and we forfeit our escrow money. Options they gave us to do a month to month or 1 year or lease option. What should we do. Thinking about moving.
excon
Aug 20, 2009, 07:13 AM
Hello E:
You're not going to get your contract reinstated, and IF they're NOT going to give you ANY consideration for the payments you DID make, I certainly would not give them another chance to screw you. Move.
excon
Evie66
Aug 20, 2009, 10:21 AM
The builder so wrote in letter we have no rights under Washington state law since we were in a purchase option agreement and we can be evicked at a anytime
excon
Aug 20, 2009, 11:00 AM
Hello again, E:
Yup. That's what happens when you default on a contract.. I'd MOVE!
That is, of course, unless YOUR contract says something else. I'd READ IT!
excon