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    Evie66's Avatar
    Evie66 Posts: 2, Reputation: 1
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    #1

    Aug 20, 2009, 12:40 AM
    Purchase option
    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's Avatar
    excon Posts: 21,482, Reputation: 2992
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    #2

    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's Avatar
    Evie66 Posts: 2, Reputation: 1
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    #3

    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's Avatar
    excon Posts: 21,482, Reputation: 2992
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    #4

    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
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