| lease option to buy
i live in missouri... and here is the situation.
my husband and i have been in a lease/w option to buy situation for 1 year. we signed a regular rental agreemtent, like one when you rent an apartment, then a purchase agreement. when both were signed, the rentor requested a binders fee of $3300.00 which was go be given back if we could not get financed on the house(this was a verbal agreement)this is no where in writing, and does not specify on the contract if we are not financed or back out of the contract, what is to be done with the money. can we sue to get this money back? the reason that i ask is when we went to get financing on the house we learned 3 things... 1. the rentor is not the owner of the home and has no rights to sell the house(he does have a contract with the owner of the home and we have not seen this contract)2. that in order to sell the home the rentor must be on the title, he is not, and 3. we do not financially qualify for the house. we have asked for the money back and were told no, since we tried to get financed, and only got part of the way.
second part to this situation is this... we told the rentor that we were backing out of the deal and would like to have untill after the holidays to find something, he told us no, that he would like us out by oct 31 which at the time gave us only 2 weeks, but then told us untill we had untill thanksgiving to be out. we signed a rental agreement and in that contract it stated we had untill sept 2002 to buy the house, is that part of the contract now void since we have backed out? how much time by law can we be given. it is no where in either contract what time frame is given if we do back out.
we need to know what our rights are, we do not understand the situation since the contract was signed under false pretences, and we didn't know untill a year later.
thanks...maggie | 
10-25-2001, 12:51 PM
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