In a purchase of an older home as a "tear down", under what (if any) circumstances would a buyer's financing and construction loan
agreement prevent a Post Settlement Occupancy? Isn't the wait time for county building approval about 3 months fro the date of the permit submission?
Answers (2)
Hi JD,
You would put in the contract a provision to study the property before the purchase.Call/email me with any more questions!
Web Reference: http://barbaraswavely.com
BEST ANSWER
The purchaser must agree to allow the post-occupancy and their lender must allow it as well. Some lending institutions will not allow the seller to post occupy the purchasers home more than 60 days as then it may be viewed as an investment property. Hope this helps. Feel free to email with more questions.
Web Reference: http://www.movingtodc.com
Didn’t find what you were looking for? Ask a question!
More Q&A about Home Selling in 22043
View all »
Answered Sat Oct 31 2009, 09:25 by Guy E. Gimenez - B… in 22043
Ask a question
Got a real estate question? Get answers from locals, experts and real estate pros.
Email me when…
View all »
1 - 3 of 20
|
|
|
|
|||||||||||
|
|
|
Copyright © 2009
Trulia, Inc. All rights reserved. |
Fair Housing and Equal Opportunity
Fair Housing and Equal Opportunity
Help us improve our service—send us feedback