If I’m living in an apartment, I don’t have to worry about this since I don’t have anything to sell, right?

Updated March 13, 2023.

Maybe. Although you don’t need to sell a home in order to purchase a home, you may not be freely able to cancel your lease or rental agreement when you purchase a home. If you are a month-to-month tenant, you are usually required to give your landlord notice of your intention to vacate a full rental-month in advance (i.e. not simply 30 days but a full period of time covered by a monthly rental payment) or you could be obligated for an additional month’s rent. If you have a lease for a period of time (i.e. a number of years), you may remain obligated for the entire balance of the lease, unless other arrangements are made with your landlord.


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