Question on Breaking a Lease

Once you sign a lease, you are legally bound to adhere, meaning you'd owe the landlord monthly rent for the duration of the lease. If the landlord is a stickler, you may not have an easy time wriggling out. You'd have to try to find a subtenant to occupy the unit in your place. I'd at least wait until you have a deposit in hand (from your buyer) before signing any lease.

You could also look for a month-to-month rental in the meantime.

given the market in general, i would suggest telling your potential landlord your situation and seeing if they would give you a grace period to get out of the balance of the lease. i assume that you plan to pay for may either way.

I already have the deposit for the sale in escrow--however, if the seller backs out and eats the deposit I really dont want the deposit money to go towards rent while I am not living there. Can't you break a lease and just pay a penalty instead of paying the whole year?

not usually but my point is to tell your potential landlord that you would like to have this arrangement. worst case, he says no.

Include an "out" in your lease. You should have some negotiating room given the market.