Question Details

Mike, Home Buyer in Newark, NJ

Want to buy a specific property but can't move in for almost 6 mnths. what should i do?

Asked by Mike, Newark, NJ Mon Jan 14, 2008

i am looking to buy a condo, but cannot break my apartment lease. the condo is still being renovated. they said it takes 1 month for the entire condo to be complete. this condo only has 3 wks left until completion. how should i approach the selling realtor? i dont want to lose the condo, but i also cannot afford to pay rent and a mortgage for those months. also, it just would not work out logistically for me to move much earlier than june. any advice?

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Answers

4
Offer the seller a "lease back" option as part of your contract. Many times this will work better for the seller.... Good luck
1 vote Thank Flag Link Tue Jan 15, 2008
First step is to acquire a Realtor to help you write offer if you choose to on new condo. You will need to get prequalified in order to make sure you can get a loan. While doing this attempt to negotiate with Leasing agent and ask if you can break lease early with small penalty. The only way to do it is to try. Is this Newark California.

Feel free to email me with any questions and good luck.
1 vote Thank Flag Link Tue Jan 15, 2008
Mike,
In the current market condition, the seller might be willing to take your offer even with such a delayed closing. It really depends on how much activity they have seen on the unit. If you would like additional assistance feel free to email me at maydave@verizon.net
0 votes Thank Flag Link Wed Jan 23, 2008
I live in Newark, NJ. And am looking for property in northern NJ.
0 votes Thank Flag Link Tue Jan 15, 2008
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