Facebook shares sink 11 percent as reality overtakes hype(Reuters) - Facebook shares sank 11 percent in the first day of trading without the full support of the company's underwriters, leaving some investors down almost 25 percent from where they were Friday … More »Facebook shares sink 11 percent as reality overtakes hype
(Reuters) - Facebook shares sank 11 percent in the first day of trading without the full support of the company's underwriters, leaving some investors down almost 25 percent from where they were Friday and driving others to switch back to more established stocks. Facebook's debut was beset by problems, so much so that Nasdaq …
Yahoo clears a hurdle, sells Alibaba stake for $7.1 billionSHANGHAI/NEW YORK (Reuters) - Yahoo Inc will sell as much as half of its 40 percent stake in Chinese e-commerce powerhouse Alibaba Group for $7.1 billion, ending years of fractious talks over how to extract … More »Yahoo clears a hurdle, sells Alibaba stake for $7.1 billion
SHANGHAI/NEW YORK (Reuters) - Yahoo Inc will sell as much as half of its 40 percent stake in Chinese e-commerce powerhouse Alibaba Group for $7.1 billion, ending years of fractious talks over how to extract value from its most prized asset. Yahoo also increased its stock buyback authorization by $5 billion to $5.5 billion …
Home resales rise, boding well for economyWASHINGTON (Reuters) - Home resales rose in April to their highest annual rate in nearly two years and a falloff in foreclosures pushed prices higher, hopeful signs for the country's economic recovery. … More »Home resales rise, boding well for economy
WASHINGTON (Reuters) - Home resales rose in April to their highest annual rate in nearly two years and a falloff in foreclosures pushed prices higher, hopeful signs for the country's economic recovery. The National Association of Realtors said on Tuesday that existing home sales increased 3.4 percent to an annual rate of …
Tesco CEO turns down $590,000 bonusLONDON (Reuters) - Tesco boss Philip Clarke has opted not to take an annual bonus of about 372,000 pounds ($588,000) following a poor performance by the world's third-biggest retailer in its main British … More »Tesco CEO turns down $590,000 bonus
LONDON (Reuters) - Tesco boss Philip Clarke has opted not to take an annual bonus of about 372,000 pounds ($588,000) following a poor performance by the world's third-biggest retailer in its main British market. Shares in Tesco, which issued a shock profit warning in January, have lost almost a quarter of their value this …
- Fitch cuts Japan as politics hinders debt plan
TOKYO (Reuters) - Fitch cut Japan's sovereign credit status on Tuesday to the lowest level among global ratings agencies as a political stalemate dims the chance that the country can curb its snowballing … More »Fitch cuts Japan as politics hinders debt plan
TOKYO (Reuters) - Fitch cut Japan's sovereign credit status on Tuesday to the lowest level among global ratings agencies as a political stalemate dims the chance that the country can curb its snowballing debt. Fitch Ratings cut Japan's long-term foreign currency rating by two levels from AA to A plus, the fifth highest …
- Factbox: Three steps in the works to revive Europe's economy
(Reuters) - EU leaders meet for an informal summit in Brussels on Wednesday where France aims to push a proposal for metalizing European debt, but the heart of discussions will focus on ways to reignite … More »Factbox: Three steps in the works to revive Europe's economy
(Reuters) - EU leaders meet for an informal summit in Brussels on Wednesday where France aims to push a proposal for metalizing European debt, but the heart of discussions will focus on ways to reignite economic growth across the continent. ...
Insight: Morgan Stanley cut Facebook estimates just before IPO(Reuters) - In the run-up to Facebook's $16 billion IPO, Morgan Stanley, the lead underwriter on the deal, unexpectedly delivered some negative news to major clients: The bank's consumer Internet analyst, … More »Insight: Morgan Stanley cut Facebook estimates just before IPO
(Reuters) - In the run-up to Facebook's $16 billion IPO, Morgan Stanley, the lead underwriter on the deal, unexpectedly delivered some negative news to major clients: The bank's consumer Internet analyst, Scott Devitt, was reducing his revenue forecasts for the company. The sudden caution very close to the huge initial …
Apple still dominates world's top brands: study(Reuters) - Apple has maintained its place as the world's most valuable brand over the past year, leading a group of technology-related companies that dominate the top 10, according to a study published … More »Apple still dominates world's top brands: study
(Reuters) - Apple has maintained its place as the world's most valuable brand over the past year, leading a group of technology-related companies that dominate the top 10, according to a study published on Tuesday. The iPhone and iPad maker has boosted its brand value by 19 percent in the past year to $183 billion, or 37 …
Facebook shares hit again as valuation doubts riseNEW YORK (Reuters) - The selloff in Facebook's shares deepened on Tuesday, as investors continued to question the stock's valuation after Reuters reported that underwriters cut their revenue forecasts … More »Facebook shares hit again as valuation doubts rise
NEW YORK (Reuters) - The selloff in Facebook's shares deepened on Tuesday, as investors continued to question the stock's valuation after Reuters reported that underwriters cut their revenue forecasts for the company before the IPO. [ID:nL4E8GM35V] Facebook's shares hit a low of $30.98 on Tuesday, 8.9 percent below Monday's …
Wall Street rebounds, but investors dump FacebookNEW YORK (Reuters) - Stocks rose more than 1 percent on Monday, with the S&P 500 snapping a six-day losing streak in a rebound from equities' biggest weekly drop in almost six months, but Facebook slumped … More »Wall Street rebounds, but investors dump Facebook
NEW YORK (Reuters) - Stocks rose more than 1 percent on Monday, with the S&P 500 snapping a six-day losing streak in a rebound from equities' biggest weekly drop in almost six months, but Facebook slumped in its second session after a disappointing debut. Tech shares were among the day's biggest gainers, with an S&P sector …
Wall Street up on banks, housing dataNEW YORK (Reuters) - Stocks rose on Tuesday, led by financial and housing shares, after home resales rose in April to their highest annual rate in nearly two years in another sign that the housing market … More »Wall Street up on banks, housing data
NEW YORK (Reuters) - Stocks rose on Tuesday, led by financial and housing shares, after home resales rose in April to their highest annual rate in nearly two years in another sign that the housing market may be on the road to recovery. But gains were capped as Facebook shares lost about 20 percent of the online social network's …
Exclusive: U.S. lets China bypass Wall Street for Treasury ordersNEW YORK (Reuters) - China can now bypass Wall Street when buying U.S. government debt and go straight to the U.S. Treasury, in what is the Treasury's first-ever direct relationship with a foreign government, … More »Exclusive: U.S. lets China bypass Wall Street for Treasury orders
NEW YORK (Reuters) - China can now bypass Wall Street when buying U.S. government debt and go straight to the U.S. Treasury, in what is the Treasury's first-ever direct relationship with a foreign government, according to documents viewed by Reuters. The relationship means the People's Bank of China buys U.S. debt using …
Nissan aiming for 10 percent of China luxury car marketHONG KONG/BEIJING (Reuters) - Nissan Motor Co Ltd said it aims to triple global sales of its premium Infiniti brand by 2016 and take 10 percent of China's luxury vehicle market, challenging leaders like … More »Nissan aiming for 10 percent of China luxury car market
HONG KONG/BEIJING (Reuters) - Nissan Motor Co Ltd said it aims to triple global sales of its premium Infiniti brand by 2016 and take 10 percent of China's luxury vehicle market, challenging leaders like Audi AG and Mercedes Benz maker Daimler AG. Infiniti on Tuesday became the first global car brand to open a headquarters …
India faces mass default and restructuring as devaluation loomsSINGAPORE, May 22 (IFR) - India's mounting economic and political woes are prompting market players to raise the specter of a Greek-style crisis in Asia's third largest economy. This is not simply idle … More »India faces mass default and restructuring as devaluation looms
SINGAPORE, May 22 (IFR) - India's mounting economic and political woes are prompting market players to raise the specter of a Greek-style crisis in Asia's third largest economy. This is not simply idle speculation. Last Friday, the rupee crashed to an all-time low against the dollar of 54.9 and it was stuck most of Tuesday …
Citigroup says cautious on U.S. small-, mid-cap cos(Reuters) - Citigroup said it has a cautious view on the U.S. small-and mid-cap companies on concerns over earnings pressure in the second half amid the euro zone crisis and the political uncertainty in … More »Citigroup says cautious on U.S. small-, mid-cap cos
(Reuters) - Citigroup said it has a cautious view on the U.S. small-and mid-cap companies on concerns over earnings pressure in the second half amid the euro zone crisis and the political uncertainty in the United States. Analyst Scott Chronert downgraded the small and mid-cap technology sector to "market weight", saying …
Question
My husband and I are in a lease with option to buy contract......?
During all the paper signing we signed a paper that said that we checked the house completely. Meaning electrical and plumbing. We looked into everything to make sure it all looked fine. We didn't have it done professionally. We were informed there was no termite damage. We have found some in almost every room. Since we signed that paper are we pretty much bound to our contract? The owner is planning on us buying the house. She is even having a new roof put on this week. What are my options?
4 years ago - 6 answersBest Answer
If you are looking to try and back out of the agreement, then its best to spend the monies and have a real estate lawyer review the contract to see what your option are, better move quickly to retain legal advice,
4 years agoOther Answers
If your contract is simply an option, then it should address what consequences there are for not exercising the option. Are you paying an increased rent or was there a promise to rebate money toward closing if you purchased the property? What happens if you simply let the option period expire?
Second, NEVER agree to buy without a thorough home inspection from a qualified inspector. It's not too late to have someone do it now - so you'll know the scope of the issues. If they're minor and you're getting a good buy on the property - it might still be worth going through with the purchase. A new roof alone is worth thousands that you don't have to spend. However, if the issues with the property are substantial, you may be better off to allow the option period to expire or otherwise cancel the contract.
Since the owner misrepresented (perhaps innocently?) the presence of termite activity/damage - you need to be especially careful in having the property examined for other issues. Good luck.
Source(s)
Broker / Property Manager
by njc_flhtc - 4 years agothe wording of your lease is critical - if it says that you have the "option" to buy and you've made no clear commitment to buy - then all you have to do is say that you've changed your mind about buying and wish to stay the term of the lease and that's it
before you go to contract on a purchase agreement - make sure that you set up some contingencies -
1- the contract is contingent on you the buyer being able to obtain financing
2- the contract is contingent on inspection by a proffessional licensed home inspector - if the house fails inspection that you have the "option" of
A. having the buyer repair and remedy all of the failures or
B. nullifying the contract
It is called a lease with an OPTION. You don't have to take the option.
If you love the house, then negotiate a termite inspection and any repairs in your purchase contract. You shouldn't worry. Just have a negotiation wth your landlord.
and GET qualified! There are only 3 types of loans with no $ down. All of them REQUIRE paystubs/ W-2s/ bankstatements/ credit cleaned up.
Best of luck!
Source(s)
Landlord and Mortgage professional.
by David Beasley - 4 years agoIf you have an option to buy then it is your option. You should not have to purchase the house. The termite damage is probably old and the owner should take care of that if they want you to go through with it. Also have the house checked by a professional for termites. Because there is damage does not mean the termites are still there.
Source(s)
Experience
by Richard B - 4 years agoYou jammed yourself up by accepting the condition of the house without professional imspections (why on earth did you do that?)
Are you committed to buy? If you have only an option, then you simply opt not to buy. What's the problem?
