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Old 10-10-2013, 04:10 PM
3 posts, read 5,533 times
Reputation: 13


We currently live in an apartment. Our lease isn't up until July, but we've started looking so we have the time to find the perfect home. Plus, the odds of closing aligning perfectly without lease end is impossible.

Unfortunately (or fortunately) we found the perfect house at a great price in the exact area we wanted. We got approved for WAY more house than we'll ever need or want (or should buy). This house will fit perfectly into our budget. We have our down payment set and ready to go.

But then we realized we have to pay a lease break fee of $3,000. We have no idea where that $3,000 is supposed to come from!! How do people go from apartment to house? Do they just have extra cash laying around not needed for all the fees associated with buying a home and paying a down payment? Do they always get extremely lucky so that closing aligns perfectly with lease end date? Are they just homeless for a while - crashing with friends? How does this work?
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Old 10-11-2013, 09:12 AM
259 posts, read 401,137 times
Reputation: 206
When we broke a rental lease, we looked for someone to take over our place and open a new lease. Then when we notified the landlord, they would have no financial loss from releasing us from our contract. We didn't end up paying anything extra and they did not keep our security deposit. Is the $3000 fee written into your lease contract? That seems odd.

Also, many leases go to a month to month lease after the first lease term is up. That also makes it easier to leave when you want.
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