Bought a Condo

[momflet]

My parents bought a brand new condo for $205,000 and they are to move in Nov 7th, the condo will not be registered until Aug of next year. When they purchased the condo they were told they would have to pay rent until then but were only told today (3 days before move-in day) that the rent would be $1500 a month, is there any way for them to get out of this deal if everything has not been finalized yet? Someone please help us asap!
Thanks

 

[presutin]

Have they closed on the purchase yet? If not, is the lease a lease to buy contract? Read first what the purchase terms are and then ask your legal question.

 

[momflet]

no the purchase will not close until it is registered next spring. they did not hve to sign lease to own, it was called an occupancy agreement.

 

[presutin]

Read the occupancy agreement in full to make sure that there isn't language there that will tie up your parents to the purchase of the property.