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What are occupancy requirements post closing?
I am buying a condo and the owners would like to stay a few months past closing. Is it true, that unless I'm buying it axs a rental property, I have to take occupancy in 60 days?
Asked By Mike D. | Turner, ME | 1321 views | Finance Legal Info | Updated 3 years ago
Answer(4)
Shane Keyes
McKee Realty
Speak with your Lender. They are going to be your key to all answers all your question like this and can help you choose the Program or Loan that is right for you based on both Federal and Local guidelines.
- 4 years ago
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Mary Dover
Coldwell Banker Realty
Are you going FHA or VA? either one of those loans you must take occupancy quickly. Conventional, it is yours to do what you wish.
- 4 years ago
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Amanda Courtney
REP Realty Group
Most loans require the buyer to move in within about 60 days if the home is meant to be a primary residence. Once you’re living there, lenders generally expect you to stay for at least a year. Cash buyers have no restrictions.
- 2 weeks ago
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Marjorie Turner
True North Realty Inc
It depends on the type of loan whether you need to occupy the home within 60 days. Check with your lender.
- 1 year ago
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