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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 Anonymous | Turner, ME| 09-25-2021| 1,629 views|Finance & Legal Info|Updated 3 years ago

Answers (3)

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Mary DoverNovice3 Answers
Mary Dover

Coldwell Banker Realty · Cypress, TX

(9 reviews)
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.
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09-27-2021 (4 years ago)··
Amanda Courtney

REP Realty Group · Fort Myers, FL

(13 reviews)
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.
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11-24-2025 (4 months ago)··
Marjorie TurnerNovice7 Answers
Marjorie Turner

True North Realty Inc · Bangor, ME

(11 reviews)
It depends on the type of loan whether you need to occupy the home within 60 days. Check with your lender.
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02-21-2024 (2 years ago)··
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