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My house is under a lease to purchase contract. What can I do if the buyer decides they no long want to buy the house?

Erlanger, KY |

My house has been under a lease to purchase contract and has been for almost 3 years. The contract is up in August and the buyer is telling me they have no intentions on buying the house and that it won't appraise for what they agreed to buy it for. Is there anything I can do to get some sort of monetary settlement for the months that it may be on the market?

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Attorney answers 1


Without knowing the terms of the lease, it is hard to say. From what you are describing, it sounds like there was an option to purchase contained in the lease. The fact that the tenant decides not to exercise that option does not provide you with any legal recourse. If the tenant has paid monthly as agreed under the lease but has decided not to exercise his/her purchase option, then you likely do not have any legal recourse against the tenant.



Actually there isn't any other option than to purchase. This wasn't set up as a lease with the option to purchase, it was set up as a purchase lease and at the end of the term it is supposed to be purchased. The selling price was already agreed upon and everything. Does that give me any more rights? and thanks for any advice you can give me :)

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