QUESTION:
If the lender decides not to honor rent credits and option consideration towards down payment or purchase price, can the seller just adjust the final purchase price accordingly?
ANSWER:
I’m sure they can. If the money was collected as consideration that’s what consideration is. It’s consideration as down payment towards the purchase price. However, I would NEVER use the words down payment as that could be construed as a “loan”, which an option or the “consideration” to buy does NOT mean that.
Adam