If you are in a option to buy can the landlord stick a for sale sign in your yard?

If you are in a option to purchase contract can the land owner put a house for sale sign in the yard?
If someone knows how to get the sign out of my yard please let me know!!! He states he is in financial trouble and needs to sell it now. He states he cant wait for me to buy it. Do I have the right to sue for all the money I have put into the home and my 4% down payment that I gave him??? Please this is very important and I am looking for good advise and help! So PPPPLLLLEEEEAAASE if you dont know for sure and you are just giving your opinion please dont answer. I live in the state of Wisconsin.. If anyone knows how I can get the sign out of my yard please let me know.

2 Responses to “If you are in a option to buy can the landlord stick a for sale sign in your yard?”

  1. Mr Placid Says:

    If he does actually sell the property to someone else, then yes, you can sue him. But, if this guy has financial problems, then expecting to get any money at all out of him, even after you win your lawsuit, would be wishful thinking at best.

    A better idea is to record your option at the county recorder’s office, much like you would record a deed. Once recorded, any potential buyer who does a title search would become aware of your purchase option, and would then refuse to buy the property. (Purchasers who are unaware of your option cannot be held liable for your option. That’s why it is imperative that you record it.) Plus, once you record your option, you could then propose to the owner that you will "cancel" your option so that he can sell the house. Of course, you would do so only in exchange for a reimbursement of all the money, plus the 4% down payment. After all, you’re not stupid.

    Take a picture of the home with the "for sale" sign. It’s good evidence of the owner’s intent to not honor your purchase option.

    Lastly, see a lawyer if you don’t know what I’m talking about. In a one hour consultation, a competent lawyer could give you all the advice and instruction you need for this situation.

  2. Comic Book Reader Says:

    You need to consult a lawyer ASAP. This doesn’t sound right in light of the fact you have a signed Option to Buy contract. Pull the contract out and check to see if the landlord included a clause where he can sell without notifying you.

    But a lawyer is the route to go. He/she will be able to sort this out quickly and tell you what your rights are. If you can’t afford a lawyer, look up in the yellow pages for the nearest tenants association. They can help you navigate this. That’s what they are there for.