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LegalKnowledge, Attorney
Category: Legal
Satisfied Customers: 26360
Experience:  10+ years handling Legal, Real Estate, Criminal Law, Family Law, Traffic matters.
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I am doing a rent to own on a mobile home. I placed 5000.00

Customer Question

I am doing a rent to own on a mobile home. I placed 5000.00 down and we have no interest. For the 1st year my payment is 925.00 that goes completely toward the price of the home and the 2nd year it is the same price but only 400 goes toward the purchase of the home. My question is there is no price listed on the contract for the price of the mobile home. At this time I need to get out of the contract my 11 year old daughter is very sick and she lives over an hour away with her dad and I need to move so that I can care for her
Submitted: 7 months ago.
Category: Legal
Expert:  LegalKnowledge replied 7 months ago.

Hi! I will be the professional that will be helping you today. I look forward to providing you with information to help with your question and concern

Expert:  LegalKnowledge replied 7 months ago.

I am sorry to hear about what you are going through. Was there an agreed upon price between you and the seller? Was the price accidentally left off the contract?

Customer: replied 7 months ago.
They did say a price which I do not remember what it was. And I don't know if it was accidental to leave the price off. I called to ask them what the price of the mobile home is and they told me that it does not work that way
Expert:  LegalKnowledge replied 7 months ago.

Contrary to what they say, it does work that way. The reason I say this is because there needs to be an agreed upon price. There has to be a meeting of the minds. If that is not present and did not occur, then you could not have a valid contract and you can break it and walk away. This is not a guessing game. There needs to be an agreed upon price and they can not simply name whatever they want. They could say the home is $50,000 and you say it is $25,000 and unless there is evidence to support what the agreed upon price was, you could have a basis to walk away. The price is an essential element of the contract and it if it missing, it is hard to say there is a valid contract

Customer: replied 7 months ago.
Do you think that I would be able to get m my down payment back or will they use that towards the free space rent that I am recieving for the first year
Expert:  LegalKnowledge replied 7 months ago.

Was anything stated in the contract about that and how the money would be applied? I ask because if the purchase was a condition to the free space and the purchase does not happen, then you could be liable for the cost, if it was a condition to the rent to own.