New Home Purchase (Marietta, Hiram: leases, credit, first time home buyer)

[wace37]

I am in the market to purchase a new home. I am in a year lease. I want to do the right thing, but I do not want to penalized for purchasing a home because I am currently renting. I know there is a 60 day notice to leave, but do not want to pay the remainder of the lease, if that is what is required. I live in Marietta, and the home I am planning to purchase is in Hiram. The management here will not give me the number to the corporate office or anyone higher than them.

Someone please help me.

[keeshonder]

Does the 60 day notice get you out of paying the remainder of the lease? Have you already made an offer on the home in Hiram that has been accepted? If you haven't an accepted offer, it could take longer than 60 days to close, unless you are paying cash. Are you going for the first time home buyer's credit? There should be some details on the management company and a contact number on your lease form. Read your lease thoroughly, especially the clauses for termination.

[saharaga]

1. How many months are left on the lease?

2. You're not being "penalized for buying a house". You're being penalized for breaking the lease.

3. If you do not want to "pay the remainder of the lease if that is what is required", then give the 60 days notice when there are 60 days left on the lease.

4. Put yourself in the management's shoes. They have leases for a reason and they cannot simply allow any and everyone who decides they want to buy a house after they've signed the lease to decide they want to break the lease without any consequences. Would you allow that if you were the landlord?

5. Unless the manager is doing something egregious or something outside of what the lease allows, calling the corporate office is not going to help you get what you want. A Google or Yellow Pages search will get you the contact info for the management company.

6. Buy the house if you want to but be prepared to pay the termination fees set out in the lease if you break the lease.

[cityrover]

you can move at any time, you just need to continue paying until the lease is up. you can always stop paying it and take your chances with a civil suit and credit damage. naturally you will not do that since you are about to buy a home.

the 60 day notice is a notice of non renewal of lease, not of breaking the lease.

all leases in ga i've come across generally want the full term's rent. some might settle for half the months but don't count on it.

you can try to push closing back and take your time packing. or just wait till your lease is up?

when i was buying i signed a series of 3 month leases to avoid a lenghtly contract. i paid out the bucket in surchages for the short leases but overal i saved vs a 2 year standard contract with ETF penalties