My husband and I are looking to buy a house, but our actual lease is not up for 3 more months. The lease states that in order to termiate it, we will have to pay one half of one months rent, plus all the rent for the three months until our lease is up. Two different people have told us that if we are buying a house we do not have to pay these charges because we are buying a house and are trying to better ourselves. I was wondering if anyone else has heard of this or knows if it is true. There is just no possible way that we could pay rent and a mortgage payment.

ballengerb1

I have never heard of a landlord that waived fees just because the tenant was buying a house. I am afraid this is just wishful thinking. My experience with real estae is that it will take 2-3 months to find a house and to close on it. You will in all likelihood still be in your rental for several months. The one half rent plus 3 months rent is a bad idea. Worst case senario you pay the next three months even if your are not physically living there. Also, ask your landlord if you can sublet.

Fr_Chuck

well the people that told you that are wrong, unless the lease specificly gives you that reason to break it, you can't break it.

Next of course if you only have 90 days left ( 3 months) and have not even found a house, arranged a loan, or scheduled closing, you NEED those 3 months to do those things, it will take you at least 2 to get to closing normally if you found the house you wanted today.

landlord advocate

Have you pre-qualified for a loan for this home you haven't found yet? If not, then you will be in the rental property at least until your lease is up and then some (maybe). Obviously the people telling you that you can get out of a lease if you buy a new house are not landlords! You signed a legal contract and are obligated to it until the end of the lease. If you leave early, you are still responsible to pay the rent until the end of the lease or until a new tenant takes your place. Most landlords will not let you sublet the property, but they will let you help find a new tenant who will sign a new lease. Before you start trying to get out of this lease, you should already have found a home to purchase and financing approved. Otherwise, you could find yourself homeless and in looking for a hotel.