Thursday, August 19, 2010

I'm looking to buy my 1st home, but I won't be able to pay mortage until my rental lease is over.?

So, it's February and I've already started to look for my first home. My plan is to close on a home in June or July. My question is if I find a home I like now, is there anything I can do to make it mine, without closing and making mortgage payments until my rental lease is over?I'm looking to buy my 1st home, but I won't be able to pay mortage until my rental lease is over.?
I would speak to the leasing office to inquire about an early termination of lease. Pending on what state you live in they may be allow you to break your lease and give a 60 days notice. Also pending what state you are located in, you can negotiate with the seller of the home you are purchasing to see if they would be willing to buyout your lease term in order for them to close. Keep in mind each state is different and you have to follow the guide lines of that stateI'm looking to buy my 1st home, but I won't be able to pay mortage until my rental lease is over.?
Ask your manager if you have a buyout clause in your lease. Or sub-let the apartment if it is allowed. If not then advertise the apartment for rent for the apartment complex. Use Craigslist.com

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