Can You Break a Lease if You Buy a House?

"In this Redfin article, we'll answer your questions about breaking a lease if you buy a house. Whether you're in the process of buying a house in Cincinnati, OH , or beginning to look at homes for sale in Raleigh, NC , here's what to consider if you need to end your lease. Key takeaways Buying a home alone typically isn't a legally protected reason for early termination. You can break a lease to buy a house, but there may be financial repercussions."

"If you break a lease early, you're technically breaking the contract - unless you're within your rights to do so as outlined in the agreement. One common consequence of breaking a lease early is financial penalties. These can be costly, which could impact your homebuying budget or your credit score. Reasons you can break a lease There are several reasons you may be able to break a lease without repercussions - but buying a home is generally not one of them. Valid reasons often include:"

"The first step is to review your lease agreement. This document will show what reasons you may be able to break your lease without penalty, what happens if you break a lease early, and possible other options. You may find any of the following in your lease agreement: Early termination fees: If you break your lease early, it's likely you'll owe an early termination fee. This is often a one-time payment, ranging from 2 to 4 months' re"

Buying a home by itself usually does not qualify as a legally protected reason to terminate a lease early. Breaking a lease to buy a house can trigger financial penalties, potential credit impacts, or requirements to pay early termination fees. Protected reasons for lawful early termination commonly include active-duty military relocation, domestic violence, illegal lease terms, serious landlord neglect, or landlord breach of lease terms. Tenants should review their lease to identify penalties, early termination clauses, and other options. Negotiation strategies include discussing fees, asking the landlord to find a replacement tenant, subletting when permitted, or coordinating move-out timing to reduce costs.

Read at Redfin | Real Estate Tips for Home Buying, Selling & More