Comments on: Do I have to pay rent if I am buying property?

By: My Take on It

My Take on It — Mon, 22 Mar 2010 18:24:11 +0000

Yes
You have to pay prorated rent.
At this point, you do not own the house, so why would you get to live there free?
Don’t mess up your credit or risk being sued in small claims over a small amount of money for November’s rent.

By: Classy Granny

Classy Granny — Sat, 20 Mar 2010 21:23:00 +0000

You owe rent until the day the house becomes yours

By: tro

tro — Thu, 18 Mar 2010 23:22:22 +0000

you certainly can try to work something out with the former landlord, now the seller
but until you actually own it you are a renter and any part of a month you are a renter, you owe the full month

By: Mike

Mike — Wed, 17 Mar 2010 03:17:19 +0000

Yes, the owner still has to make the mortgage payment, taxes, etc. for the partial month that you are there.

By: Lepke

Lepke — Mon, 15 Mar 2010 06:34:48 +0000

I would think that you would have to pay the rent from November 1st to the day of closing. Until closing, the property doesn’t belong to you. So it would be the percentage of your monthly rent.

By: Dan B

Dan B — Fri, 12 Mar 2010 05:22:29 +0000

You don’t own the home until the date of closing. You owe rent up to the date of closing (prorated). The landlord cannot charge you for a full month’s rent if he doesn’t own the home after closing. It’s just like your mortgage payments and escrow accounts for the first month. They are prorated. First part of the month goes to the previous owner, last part of the month goes to the new owner.