Can a tenant terminate their lease if purchasing a home?

[kel4377]

What is the name of your state? NY
We're currently renting an apartment and our lease is up May 31st. We just put an offer in on a home and they accepted, and I was just wondering as a tenant, can I legally terminate my lease without penalty because I'm purchasing a home? We had told the realtor that we couldn't close until mid May, since we're in our apartment until then, but if we could close sooner, that would be better for the sellers.

 

[Hot Topic]

The only way you can legally break your lease without penalty is if you're in the military and notified that you're going to be transferred.

It is possible, but unlikely, that your landlord is going to let you out of the lease without forfeiting something. You did enter into a legal contract which you now want to break. Your best bet is to help him find a new tenant; otherwise, you could be responsible for the rent until the lease expires. You could also be charged any costs he incurs in finding another tenant.

 

[BelizeBreeze]

What is the name of your state? NY
We're currently renting an apartment and our lease is up May 31st. We just put an offer in on a home and they accepted, and I was just wondering as a tenant, can I legally terminate my lease without penalty because I'm purchasing a home? We had told the realtor that we couldn't close until mid May, since we're in our apartment until then, but if we could close sooner, that would be better for the sellers.

The ONLY person who can answer the question is the landlord.

 

[kel4377]

ok thanks. then I guess it'd be better to close in May like we originally planned, so our lease will be up and we won't be penalized. Thanks again!

 

[Cvillecpm]

Close the end of April and move during May - you won't pay your first mortgage payment until June and it will allow you time to clean your apt and get your deposit returned.