When buying a Home Path home as an investor, do you have to wait to resell the property for a certain period of time?

Asked by phenomsupreme, South Holland, IL Fri Jul 5, 2013

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Suzanne Hami…, Agent, Orland Park, IL
Mon Jul 8, 2013
Yes - typically fannie mae properties require that even if you are an investor, you must wait 90 days to turn over the deed - so close on a property. The only exception is if you sell for the same price you purchased at, which is less likely.

If you purchase as an owner occupant, you typically need to live there for 1 year before you sell.

Check the fannie mae addendum to the contract, which details any restrictions they may have.
Web Reference:  http://www.homepath.com
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