Apartment lease termination penalty waiver for home buyers

Asked by KT-3999, Fremont, CA Thu Mar 26, 2009

I signed a purchase contract 6 months back for an under construction property at KBHome. At that time I was living in a rented apartment. My new house is ready now but my lease will be expiring one month after I move in.

I have given a 30 day moving out notice to my apartment office but they say they can not waive off the penalty for early termination of lease. The penalty is equal to the rent loss of apartment.

Is'nt there any way I can avoid this penalty? I know under contract I am bound to pay the rent till the end of lease, just trying this site to get some suggestion or work around.

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Fremontguy, Home Buyer, Fremont, CA
Mon Mar 30, 2009
My suggestion is spend more time on the current value of your KB Home, vs the price you paid when the contract was signed 6 months ago.

1 month rent is what, $1-$2k? It is peanuts vs the change in new house prices during the last 6 months.
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Menudo Bongo, Home Buyer, 94085
Fri Mar 27, 2009
As far as I know, you are liable, unless another tenant moves in during the interim.

The only way out, afaik, is if you were called for Military deployment - then you can walk away from your lease without penalty.
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Dawn Rivera, Agent, Fremont, CA
Fri Mar 27, 2009
Hi Neaz, I am a Realtor and as such am not allowed or qualified to give you legal advice as a lawyer would be. ...But, i have two suggestions for you. 1. You can go to a book store and oick up a copy of Renters Rights it may have some info for you in there. 2. You could always call a lawyer see what they have to say. I hope this helps and i wish you Luck.....Dawn
Web Reference:  http://DawnRivera4Homes.com
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