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Message
Homebuying Option Fees
Posted on 9/16/13 at 9:18 am
Posted on 9/16/13 at 9:18 am
I'm hoping you guys can help as this was my first home buying process so I probably don't know all the terminology that goes with it.
Here's the situation...I was under contract on this property and I paid the first option fee to keep it under contract. We had some issues and filed an extension with an additional $50 fee. Well, communication sucked with the other agent and she wasn't getting the information we needed to continue on in a timely manner. So, my realtor advised me to void the contract because she didn't see the process improving. I decided to void the contract prior to the extension going into effect.
Can the seller still cash the extension check if the contract was voided prior to it being in effect? I know it's only $50 but they left a bad taste in my mouth and I don't want to give them anymore than I have to.
Thanks for any help.
Here's the situation...I was under contract on this property and I paid the first option fee to keep it under contract. We had some issues and filed an extension with an additional $50 fee. Well, communication sucked with the other agent and she wasn't getting the information we needed to continue on in a timely manner. So, my realtor advised me to void the contract because she didn't see the process improving. I decided to void the contract prior to the extension going into effect.
Can the seller still cash the extension check if the contract was voided prior to it being in effect? I know it's only $50 but they left a bad taste in my mouth and I don't want to give them anymore than I have to.
Thanks for any help.
Posted on 9/16/13 at 3:22 pm to tigers444
Pretty sure they can go ahead and cash it. We bought in December, and our seller even wanted more for the option to make sure we didn't back out.
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