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Answers (6)
- Katherine Cannon, "highheeledhomeowner"
- Contributions:107
With an otherwise strong offer, you might be able to get the seller to pay your lease termination fee. Usually a small price to pay for a seller to move on with their life!
- Randy the Realtor!, "Randy Bultema"
- Contributions:2
Here is a link to the Georgia Tenant Landlord Laws. Try looking here first:
http://www.dca.ga.gov/housing/housingdevelopment/programs/downloads/Georgia_Landlord_Tenant_Handbook.pdf
http://www.dca.ga.gov/housing/housingdevelopment/programs/downloads/Georgia_Landlord_Tenant_Handbook.pdf
- sunnyview
- Contributions:25139
There is generally no automatic clause to let you out of your lease if you buy a home. Unless your lease says otherwise, you are responsible for the rent for the term of the lease or until a landlord can find another tenant for the unit. The landlord should not have to take a loss because you need to break the lease. However, if you are reasonable you can often work out something.
You can approach the landlord and ask them for a 1-2 month buy out of the lease. Other times you can negotiate with the landlord and give them as much notice as possible to find another tenant. It takes time for escrow to close so often that gives them 30-60 days to find another tenant. In that case, you may only be responsible to pay the additional costs of finding that tenant and the lost rent for any gap in occupancy.
You can approach the landlord and ask them for a 1-2 month buy out of the lease. Other times you can negotiate with the landlord and give them as much notice as possible to find another tenant. It takes time for escrow to close so often that gives them 30-60 days to find another tenant. In that case, you may only be responsible to pay the additional costs of finding that tenant and the lost rent for any gap in occupancy.
- Keith & Kinsey Schulz, "Keith And Kinsey"
- Contributions:76
State and local laws vary on this. However, as a landlord, I'd suggest talking to your landlord first. Most of the time, landlords are willing to work with someone that is willing to work with them. However, if somebody attempted to just walked away from their lease the landlord is likely to be less friendly.
The do unto others as you would have them do to you rule works well for just about everything (especially this).
Side note, as Realtors also, we allow tenants to terminate their lease at anytime if they purchase through us.
The do unto others as you would have them do to you rule works well for just about everything (especially this).
Side note, as Realtors also, we allow tenants to terminate their lease at anytime if they purchase through us.
- Benjamin J Shoemaker, "BenatAlpha"
- Contributions:55
Hello,
I am not a real estate lawer, so this is just my opinion. I would advise you to take your lease to a real estate attorney for a review of the applicable laws and liabilities. (They would most likely be happy to do this as part of their service for representing you on your purchase...)
Your lease should specify what the allowable conditions for termination are. Generally, leases do not have a clause for breaking the lease becasue you are moving into a property you just purchased.
In other words, there is no law here in CT (that I am aware of) that gets you out of the lease just becasue you are purchasing a home. You will likely be forfeiting your security deposit, and may be at risk of being sued for the remainder of the balance on the lease.
The FIRST thing I would do is start discussions with your landlord, explain your situation and your intentions. If you are on hostile terms with the landlord all the more reason to hire an attorney!
Good luck!
I am not a real estate lawer, so this is just my opinion. I would advise you to take your lease to a real estate attorney for a review of the applicable laws and liabilities. (They would most likely be happy to do this as part of their service for representing you on your purchase...)
Your lease should specify what the allowable conditions for termination are. Generally, leases do not have a clause for breaking the lease becasue you are moving into a property you just purchased.
In other words, there is no law here in CT (that I am aware of) that gets you out of the lease just becasue you are purchasing a home. You will likely be forfeiting your security deposit, and may be at risk of being sued for the remainder of the balance on the lease.
The FIRST thing I would do is start discussions with your landlord, explain your situation and your intentions. If you are on hostile terms with the landlord all the more reason to hire an attorney!
Good luck!
You are better off discussing your options with your landlord. The terms of the contract will state what you are obligated to, but if the landlord can find another tenant without the space being vacant, they may choose to not hold you to the specified lease time frame. Or you could just wait until the lease is up and give the specified notice for not renewing.
It takes a while to locate, offer, and close on a house purchase anyway.
It takes a while to locate, offer, and close on a house purchase anyway.
is it legal to break the lease of an apartment rental to buy a house.
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