There are a lot of ways to negotiate a new home purchase. Getting the financing right is one of the most critical pieces. There are several ways to deal with an existing lease, each has a potential different impact on your personal finances and the price and terms of your new home purchase. You should be aware that everyone you meet at the new home development works for them builder. While they will be friendly and nice, they do not work for you! But when you come in with a New Home Buyers Agent Advocate you will have someone working exclusively for you, always in your best interest. from the first contact through negotiations and construction to the final settlement and closing. Every decision. All the time. If you have a full time agent with a Masters degree in Planning with Finance and over two decades of experience, working for you, you will likely do better in negotiations. I'd be glad to discuss your options with you. If you appreciate this answer, please give it a thumbs up, or if this was the most helpful answer, please say thanks with a best answer click.
that is a question for the lender doing the loan on the house. It will depend on the type of loan you are receiving and whehter the builder wants to do it or not. In years past I have heard it customary for builders to offer incentives of paying off existing leases on apartments up to X amount of months and dollars when you bought a home.
However; with all the new regualtions in place for the lenders today after the mortgage meltdown I am not sure that they can do it anymore. It seems that you would be violating some of the new mortgage guidelines (depending ont he loan you are getting).
A couple of options is give you apartment notice as much notice as possible and see if they can procure a tenant for it ebfore you have to move out...Then you might be able to get out of the lease (break it) and not have to pay any fees or the remainder of the lease. I have ahd a couple fo clients recently go that way and it cost them a couple weeks of rent so theat the complex could get the place ready and while it was vacant..
Coldwell Banker United
Jeff Monfils 704-975-7616 - Direct
Broker | REALTOR | Property Manager