There are too many potential pit falls that can happen prior to your exercise of the option.

Refinancing is a tax free exercise. 

At the end of the exercise see if it still makes sense for you.

Have you heard or done the seven levels deep exercise?

In the long run I wouldn't make a stink about things like this everytime, but I find it a good exercise to understand options for when a bigger dispute may surface.

It states that: [T]he corporate form may be disregarded and individual shareholders held liable for corporate misdeeds when (1) control over the corporation by those to be held liable was so complete that the corporation has no separate mind, will, or existence of its own, (2) control over the corporation by those to be held liable was exercised in such a manner as to commit fraud or an illegal act against the person seeking to disregard the corporate entity, and (3) injury or unjust loss resulted to the plaintiff from such control and wrong.The test is conjunctive and requires that the plaintiff can satisfy all three prongs of the test.

I recently cancelled escrow because based upon my due diligence I would not have been able to exercise the strategic investment model I was seeking to do.  

Then I would lease the property for $3000/mo designating $2000 payments to the loan and $1000 to the seller until loan is paid off (approx. 9 mo) at which time, I would exercise my purchase option on the balance. 

Now the tenant has not paid in 2 months and even through that was part of the problem I felt I was exercising my right as a landlord to give 15 days notice to vacate.

As such an auction buyer can exercise those rights since buying at auction grants an interest in the real property.