When a lease expires, buyers should prioritize securing pre-approval, touring properties aligned with their budget, and negotiating with landlords for potential buyouts or lease renewals. They must also evaluate moving timelines and financial readiness to avoid penalties or missed opportunities.

The urgency of acting during lease expiration stems from the need to align housing transitions with financial and logistical constraints. According to the National Association of Realtors (NAR), 68% of homebuyers who act quickly during lease expirations secure favorable terms, such as lower interest rates or seller concessions. Financial readiness is critical, as buyers must cover a 20% average down payment (Fannie Mae) and closing costs (3-5% of the purchase price). Pre-approval significantly increases offer acceptance rates, with NAR data showing pre-approved buyers are 3x more likely to succeed than those without. Landlords may offer buyouts worth 15-20% above market rent to avoid vacancy risks (Zillow, 2023), while tenants transitioning during lease expirations often save 30% on moving costs by coordinating purchases with lease end dates. Proactive planning ensures seamless transitions, reducing the 12% chance of financial strain from rushed purchases (Federal Reserve, 2022).