Question on 30 days notice - Current apartment unit

[quizzert]

I have a 30 days notice before moving out of my apartment.

Closing date is 10th December for the home i bought.

Appraisal is done and waiting for the loan approval (expected this week).

When do you think should I give the 30 days notice? I want to move immediatly after closing and want to cut down on double pay (rent and mortgage).

If I give the notice this week, is it safe or any risk?

Thanks

[CH-7-Mission-Accomplished]

Don't give notice until you have final approval unless you have a backup plan for where to live.  These days there are a millions things that can go wrong in a mortgage approval.  Paying an extra month's rent might be a good insurance policy unless your parents have a nice basement.

[iv]

Check your mortgage paperwork - with a closing date of Dec 10th, you are likely paying the Dec 10th-Dec 31st interest at closing, and then the first mortgage payment (with the Jan 1st-Jan 31st interest) would be due Feb 1st (not Jan 1st).

So you likely won't be paying double, even if you give notice later on.

Of course, if you get the timing right, you can end up not needing to pay mortgage or rent in Jan!

(But yeah, at least wait until you get final approval - and you are sure the seller is fully prepared, too.  Delays in closing do happen...)

[quizzert]

Thanks both of you.

I will check the papers.

There will be nothing due on 1st Jan then?

[ezdriver]

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@quizzert wrote:

I have a 30 days notice before moving out of my apartment.

Closing date is 10th December for the home i bought.

Appraisal is done and waiting for the loan approval (expected this week).

When do you think should I give the 30 days notice? I want to move immediatly after closing and want to cut down on double pay (rent and mortgage).

If I give the notice this week, is it safe or any risk?

Thanks

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Wait until you have a clear to close then give notice to you landlord. You have no control over the closing actually happening when YOU want it to happen. Trying to coordinate such a big event is a recipe for frustration and aggravation...for you.

[iv]

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@quizzert wrote:

Thanks both of you.

I will check the papers.

There will be nothing due on 1st Jan then?

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Check the paperwork to be sure, but that timing is the most common.

[Anonymous]

 I gave my 30 days notice 30 days from the closing date.  I got the keys to the new place the same day my lease ended.   Don't take such risk if someone else life is involved in the moving.   

[StartingOver10]

OP, don't back yourself into a corner. Allow enough time to move and clean your apartment so you can turn it over in good condition. Especially now with TRID rules, there could be an unintended delay in closing due to the new disclosures by your lender.

Make sure you provide notice exactly as your lease requires (usually in writing). Make sure you provide the keys at the time of walk through. If management won't walk through with you, take your own dated photos so you can show the condition of the apratment to get your security deposit back, if necessary. 

Good luck. You can do this. Congrats on your impending closing.

[quizzert]

Thanks. Will do.

[Anonymous]

Also, check your lease... Sometimes the 30 days notice doesn't actually end the lease until the last day of the month after the 30 day notice is up.
For example, we gave notice on our last house on the 20th of January (or something like that) our lease carried through the end of February. If we would have given notice on the 30th of January, they technically could have charged us rent for the month of March, because the 30 days notice would not have gone into effect until the 1st of March. The landlord did not prorate rent, it was all or nothing.
Obviously...February is a weird short month, but just because you give your 30 day notice, does't mean you'll get out of paying rent from the 30 day point on...