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Updated almost 8 years ago,

User Stats

14
Posts
5
Votes
Philip W.
  • Myrtle Beach, SC
5
Votes |
14
Posts

Avoid early termination fee when purchasing property?

Philip W.
  • Myrtle Beach, SC
Posted

Hey BP- 

I'm currently renting but in the market to purchase a multi-family that I will owner occupy. My current lease is up April 30th. From reading my lease, 30 days notice needs to be given for any changes. This is only my second year renting, and I've never renewed a lease before. My question to you is this...When is the best time to ask to go month to month? I'm fairly doubtful that the owner will accept this, but I think it's my best option if I haven't found/closed on a property by the end of March. I think that telling them too far in advance takes away any advantage that I have as far as timing, but I don't want to get sucked into another year long lease with early termination fee's for moving into my newly purchased property. Thanks in advance for any/all thoughts!

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