Does option money carry over on renewal of L/O - Posted by HT

Posted by Kiera a.k.a. Mansion on November 19, 2000 at 17:48:22:

That is up to you as the person who writes up the agreement. If you have made arrangemnts in the beginning to let the option money roll over then they don’t have to pay more but it may be to your advantage to end the agreement with them and to find another tenant buyer that will be more likely to be able to close within the limits of the agreement. Also keep in mind that you will again receive another option fee with new tenant buyers.

Does option money carry over on renewal of L/O - Posted by HT

Posted by HT on November 19, 2000 at 16:35:15:

On an L/O, if a tenant signs a new agreement for another year, does the option money from the first year carry over to the second or is it lost since the tenant did not fufill (exercise the option) the terms of the original agreement by acquiring financing?

Any and all feedback is appreciated.

HT