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We are in a lease purchase agreement that expired several months

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We are in a lease purchase agreement that expired several months ago. The owner of the home constantly shows up at the house at 7am in the morning asking us about purchasing the home. The last time he was at the home he used the term "colored" people and I told him that I perceived that as a racist remark. We put down $8,000 and the lease purchase amount is $340,000 and today the houses appraises for $297,00 which is what we offered. He told us that we had a contract (expired) and that we would have to make up the difference and that he would sue us for the depreciation of the home. My husband is divorced and his ex wife had to sell their home in another state is why this has drug on and on. I told the owner(builder) that I felt that this was harassment and bullying tactics and he laughed.

AttorneyJohnJ :

Hello, I am a professional here to assist you. I appreciate your use of this service.

AttorneyJohnJ :

I see that you have a lease purchase agreement which you believe has expired. Without that contract you are only a tenant and would have no obligation to purchase.

AttorneyJohnJ :

The key will be that agreement.

AttorneyJohnJ :

When looking at these documents the key is the working. If the agreement expired and is no longer in force, the parties are free to renegotiate or go their own ways. There would be no basis for depreciation. A potential concern would be whether such a contract provided the occupants the option to buy or a requirement to buy. If there was a commitment to buy by a specified date, the contract may have been breached. When a contract is breached the other party may file a civil suit and seek damages. If there was not a breach, the other party would have no basis to seek damages more so than they could from tenants.

AttorneyJohnJ :

Please follow-up as needed.

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Customer: replied 4 years ago.

We were suppose to have purchased the home in TN by 5/31/2012. My husband was to use his VA loan from his ex wife either selling or refinancing the other home that he had which is still hanging out there. We kept them informed during every step of the process and since the homes in the neighborhood or greatly depreciated he thinks that we are suppose to make up the difference from my husband's retirement account in which we are not going to do. He also sent a letter the other day giving us 30 days to vacate home.

Customer: replied 4 years ago.

Please also address the "colored people" comment that was made in the context of he sold homes to "colored people" when nobody would do business with "them".

Whether the seller can hold you to the agreed price, depends on the language in the contract. If it is still binding, then the seller could file suit to enforce the terms of the contract. The key is the contract language. As to vacating the home, absent a contract to purchase you would be tenants. If your option period to purchase expired, the landlord likely can remove you from the home. He can only do so by evicting you through the courts. You have no obligation to voluntarily leave. You may want to have an attorney read the lease-purchase contract so you know exactly where you stand.

As to the racist statement, housing discrimination is unlawful. If you feel the seller is discriminating you may file a complaint here:

http://portal.hud.gov/hudportal/HUD?src=/topics/housing_discrimination

Please follow-up as needed.

Before you go...Will you be so kind as to leave a positive service rating?

I would greatly appreciate it.I rely on excellent ratings and optional bonuses to provide this service.

Thank you and please have a great dayYou will see an option to leave the rating on your screen.
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