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    duck2duck35's Avatar
    duck2duck35 Posts: 1, Reputation: 1
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    #1

    Oct 1, 2006, 02:45 PM
    Renter in a Lease - Wanting to Purchasing A Home
    Can someone tell me please, I am currently in a lease for the past 19-months and have 5-more left to go on a 2-year Rental Lease. With the housing market prices falling, I decided that I want to purchase a house. Is there anywhere in Maryland Law that indicates that if a Renter wants to purchase a home they could end there lease early? Any advise? Thanks.
    RickJ's Avatar
    RickJ Posts: 7,762, Reputation: 864
    Uber Member
    		  
    #2

    Oct 2, 2006, 03:14 AM
    No. 5 months is not a long time for finding and closing on a house, so start your search now, and when you make an offer, write a contingency that you take possession after your rental lease is up.

    ... just my thought on it.
    ScottGem's Avatar
    ScottGem Posts: 64,966, Reputation: 6056
    Computer Expert and Renaissance Man
    		  
    #3

    Oct 2, 2006, 05:33 AM
    Rick is right, its unlikely between searching and scheduling a closing that you will be ready to move in less than 5 months. If you are, you might have to pay the last month or two on the lease. If you still haven't found something when the lease expires, then you continue on a monthy to month basis. Don't sign a new lease, though you may have to pay an increase in rent. Also check the notification clause. Make sure you know how much notice you need to give of when you are moving.
    Cvillecpm's Avatar
    Cvillecpm Posts: 553, Reputation: 28
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    #4

    Oct 2, 2006, 06:25 AM
    NO - there is no "get out of lease to buy a home" card.

    Discuss your problem with your realtor and have him/her find a replacement resident for the balance of your lease with your landlord's blessing.
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