i am currently in a rental lease but want to buy a house whats the best solution?

There's a house i really want but i am in a lease agreement with my apartment for a whole year. I don't want to lose the house or have to terminate my lease so whats the best solution?
(0) | asked by: mai thao | share | 8 months ago | Report

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answer by Cindy Smith   |   Visit My Website   |   Contact Me
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You need to speak with the apartment. What does it take to break the lease? Do they allow subleasing? That is where to start.
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answer by Frank Rivera   |   Visit My Website   |   Contact Me
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be honest with your land lord tell him your plans and ask him to work with you as you will work with him. let him know that you will help getting a new tenant by allowing all showings of the apt to help rent it at the same time you will close your puirchase. if a new tenant is in place before you move out your land lord should not be upset. Honesty is always the best policy.
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3 months ago  |   Report   |   share
answer by John Armstrong   |   Visit My Website   |   Contact Me
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Jeffs answer is correct. If your landlord is a realtor, they may let you out if you buy through them.
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answer by Joan Dixon   |   Visit My Website   |   Contact Me
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Depending upon your finances; you could purchase the home as an investment which would require a larger down payment than as an owner/occupant and the interest rate is a little higher also. You could then lease it out until your lease agreement is up with your apartment complex you are living in
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answer by Jeff Klemmer   |   Visit My Website   |   Contact Me
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1) Ask the landlord if you can get out of the lease. 2) Have your Realtor help identify a new tenant for your landlord. 3) If your landlord is a Realtor, request his/her services to purchase the property.
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answer by Brian Webb   |   Visit My Website   |   Contact Me
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Check with management on the option to either find someone to replace you as a tenant or if they have a buyout. If they could find a replacement you would no longer be responsible for the rent. Otherwise, some will have a preset buyout price.
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4 months ago  |   Report   |   share
answer by Joe Houghton   |   Visit My Website   |   Contact Me
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A lot of landlords will have no problem letting you out of your lease early and many will be just fine with you subletting your apartment. It is also possible that the owner of the house might be willing to sign a purchase agreement where you don't close until your lease is up....or the sellers may pay your current landord to let you out of your lease....the bottom line is that there are many options. Call or email me direct if I can help you further.
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8 months ago  |   Report   |   share
answer by Charles Dailey   |   Visit My Website   |   Contact Me
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Firstly, I'd engage a good Realtor. I?d choose someone with a recent record of success as someone who's more of a buyer's agent ("selling agent") than a listing agent. I would work with them to coordinate negotiating an early exit to your present lease with your landlord in a way that would be consistent with a contingent purchase agreement that this Realtor would write for you.
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answer by Jeff Jorgenson   |   Visit My Website   |   Contact Me
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It depends~ Some leases have a clause that if you can show a signed purchase agreement to buy a home, you may give a sixty day notice. If not, I would ask my landlord if you find a home to purchase, what would it take to let you out of your lease early? He/She may let you find a suitable renter to take your lease over, as long as that renter meets his/her qualifications. How much time is let on your lease? If less than six months, start shopping for a home. It could take a few months to find what you want. Also, you can stipulated around two months out on your closing date for the purchase agreement. In today's home market of great deals, you may even find paying on two places for a month or two worth it, if you find a great deal, or perfect home. Call with questions, Jeff Jorgenson, Keller Williams
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8 months ago  |   Report   |   share
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