Priya, what does your lease say? Keith Jean-Pierre Managing Principal The Dapper Agents Real Estate Operations in ALL 50 States
My lease doesn't end for another two months, but I'm about to go under contract on a house, so should I tell my landlord now or wait, and what should I be careful about with the closing timeline so I don't end up paying for both places at once?
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Priya, what does your lease say? Keith Jean-Pierre Managing Principal The Dapper Agents Real Estate Operations in ALL 50 States
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Review your lease now for the required notice, automatic renewal, and early termination terms. You can give your landlord an early heads up and discuss flexibility, but make clear that your purchase is still pending. Meet your lease's written notice deadline, and get any early release or extension agreement in writing. Have your agent and lender coordinate closing with your lease end, allowing a short buffer for delays and moving. Confirm when you actually receive possession, since that may differ from signing day. A little overlap can be less costly than temporary housing and moving twice. Before committing, ask your lender to confirm your first mortgage payment date and all prepaid costs so you can budget accurately.
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