Home Buying in 18042>Question Details

Diana Caroza, Other/Just Looking in Easton, PA

Can I break my lease in PA to buy my first home? Thanks, Diana

Asked by Diana Caroza, Easton, PA Thu Dec 20, 2007

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11
Looks like the consensus is that a renegotiation of the lease with the landlord is preferable to a breach of contract. Even if you could find a legal loophole, ethical considerations suggest that it is better to approach the landlord.
1 vote Thank Flag Link Thu Dec 20, 2007
Jim Walker, Real Estate Pro in Carmichael, CA
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I own investment properties best approach property owner you are obligated terms and conditions of lease you could be sued.

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0 votes Thank Flag Link Thu Aug 13, 2009
Diana,

In my cases you can terminate your lease with the landlord. Some factors may come to play. You may want to talk with an real estate attorney for the best answer. If you need a number of one in your area feel free reach me anytime. You may not want to say anything to the landlord until this is a decision you are sure of. There are alot of great offers going on for first time buyers You may even need to see if you are able to purchase so you should be pre-approved. I have a book I give all my first time home buyers. I would like to give you a copy if you are interested. It's FREE. I am a first time buyer specialist (ABR) designation which means I have extra training in this field. Hope this helps.
0 votes Thank Flag Link Thu Aug 13, 2009
Diana,

A lease is a binding contract by law. Many landlords will understand your needs and will be helpful. Try to find another tenant to replace you.

Best of Luck
0 votes Thank Flag Link Fri Dec 21, 2007
Diana,

A lease is a binding contract by law. Many landlords will understand your needs and will be helpful. Try to find another tenant to replace you.

Best of Luck
0 votes Thank Flag Link Fri Dec 21, 2007
If your lease allows for sublets and/or subleases yes. It will depend on your lease agreement. Some property managers will charge a break lease fee. Talk to your landlord. Think of it this way, if you aren't breaking a lease, most likely you'll have a house to sell. Most buyers are in either position. Of course, there are exceptions. You can add a contingency if you are worried about finding someone to take over your lease. For example, you are only obligated to purchase if you are able to find a sublet by a stated date, preferably not too close to the closing date. Hope this helps!
0 votes Thank Flag Link Thu Dec 20, 2007
When I bought my first home I had to break the lease. My agent found a new tenant for the house, so when I told him I was moving I was able to also tell him we had a new tenant. He was happy with that.
0 votes Thank Flag Link Thu Dec 20, 2007
Diana,
Read your lease and talk to your landlord, how much security deposit would you lose and how long of a notice did you agree on ??. I
0 votes Thank Flag Link Thu Dec 20, 2007
The other advice below is good. However, bluntly, no. You can renegotiate and if the landlord is amendable, then you can leave on the conditions you mutually agree to. But break your lease to buy your first home? No way. And there's no special dispensation for "first home," versus second or third. And there's no special law in Pennsylvania (that I know of, though I'm not a lawyer) that excludes lease breakers who are purchasing first homes.

And consider this: You break your lease, and your landlord has every right to report you to credit bureaus, sue you for the remainder of your lease payments, etc. In addition to making your life miserable, those actions might also significantly lower your credit score. Hey, in today's market, if I were a lender I wouldn't want to lend to someone who had deliberately defaulted on a lease.
0 votes Thank Flag Link Thu Dec 20, 2007
Don Tepper, Real Estate Pro in Fairfax, VA
MVP'08
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Hi Diana:
Your best bet is to talk to your landlord and explain that you are buying your first home.Then whatever is decided make sure you have it put in writing and signed by both parties. If your landlord can rent the house right away, you may be ok. If not you may be held to pay rent until it is re-rented or the lease ends. Whichever comes first. You may also have to forfeit your security depoist.
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0 votes Thank Flag Link Thu Dec 20, 2007
Diana

A lease is a binding, enforceable contract.

Maybe another way to handle this is to discuss your situation with your landlord.

If your landlord is agreeable to terminating your lease, get the termination in writing.

You may want to offer to allow your rental to be shown during your transition to accommodate the landlord's getting a new tenant

Best of luck
0 votes Thank Flag Link Thu Dec 20, 2007
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