If a seller decides to sell to someone else, do you get back what you have paid towards purchase price?
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If a seller decides to sell to someone else, do you get back what you have paid towards purchase price?
I have a purchase agreement and been paying on house for almost 4 years. Is seller responsible to pay back what has been paid toward purchase if they sell to someone else?
Asked on October 27, 2016 under Real Estate Law, Ohio
Answers:
SJZ, Member, New York Bar / FreeAdvice Contributing Attorney
Answered 7 years ago | Contributor
If it was "rent to own," they may keep the portion that represented the reasonable or fair market rent but return the portion that was the extra over that towards the ourchase price. If you were not renting but were just paying over time, they would have to return it all if they chose to sell to someone else. In not selling to you, they breached their conract or obligation (assuming that you did not first breach your obligations under the agreement; if they did, that would justify them in terminating the agreement while keeping your money) and therefore must return the purchase price portion of your payments, since they cannot breach their obligations while keeping your money. If they should return your money but do not, you could sue them for it.
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