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If buyer does not paid option fee in 3 days can i break the…

Customer Question
If buyer does not paid...
If buyer does not paid option fee in 3 days can i break the contract
Submitted: 2 years ago.Category: Real Estate Law
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Answered in 5 minutes by:
2/17/2016
Real Estate Lawyer: P. Simmons, Lawyer replied 2 years ago
P. Simmons
P. Simmons, Lawyer
Category: Real Estate Law
Satisfied Customers: 36,947
Experience: 12+ yrs. of experience including real estate law.
Verified

Hello! My name is ***** ***** I am a licensed attorney with more than 18 years of experience. I am here to assist you with your questions. Please understand that if I ask you for additional information, you are NOT charged again and our communications are NOT timed. So please see this as a relaxed conversation between friends. I am here to help

Also, if you would like to chat on the phone, let me know and I can make that happen.

This depends on context...can you provide some context?

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Customer reply replied 2 years ago
I signed a option with broker to sell my home and have found several problems with the contract that of course I signed. Can I break the contract with him for non payment of options fee.
Real Estate Lawyer: P. Simmons, Lawyer replied 2 years ago

So the broker is the one who is going to purchase from you?

Or they are going to list the property for you??

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Customer reply replied 2 years ago
He is not purchaser, he says he has investors.
Real Estate Lawyer: P. Simmons, Lawyer replied 2 years ago

So you have a contact with the broker, that I understand

What do you mean by

Can I break the contract with him for non payment of options fee.

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Customer reply replied 2 years ago
The contract in texas gives him the right to be the only buyer for 30days to try and find buyers. So he is middle man which I did not know beforehand
Real Estate Lawyer: P. Simmons, Lawyer replied 2 years ago

Thanks

IF you signed the contract? The broker can enforce it. Period. There is no "3 day right to cancel" on contracts that you are describing.

This is the part of my job I don't like...when the law is not in favor of my customer. I wish I could tell you that you had a right to cancel this contract but I can only provide you information based on the law so that you can act on the best available information to you...I wish I had better news, but can only hope you recognize and understand my predicament and don't shoot the messenger. I'm sorry!

Please let me know if you have more questions. I am happy to help if I can. Otherwise, please rate the answer so I may get credit for my work.

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Customer reply replied 2 years ago
Thanks
Real Estate Lawyer: P. Simmons, Lawyer replied 2 years ago

Certainly.

Please hit the accept button, its the only way I get credit for my work.

thank you

phil

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Real Estate Lawyer: P. Simmons, Lawyer replied 2 years ago

sorry disregard.

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P. Simmons
P. Simmons
P. Simmons, Lawyer
Category: Real Estate Law
Satisfied Customers: 36,947
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Experience: 12+ yrs. of experience including real estate law.

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