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Updated almost 8 years ago, 01/27/2017
Why must I live here??? Question???
I'm fairly new to this Real Estate game we all play I have closed a few deals and I do own 3 properties free and clear. I just seen a property listed on the MLS I'm extremely interested in less than 30000$ this property I'm interested in sold about 10 yrs ago for 65000$. From pictures looks can be deceiving looks to be a good deal. ( I'm a merchant marine currently in Persian Gulf just a disclosure. ) I asked for information about the property through email. And the reply that this property is only for sale to a buyer that will live in it. After purchasing it. My question is why if I offer all cash, quick close, as is, no contingencies. Why in the world would I have to live there it's mine. I should be able to rent it, flip it, burn it down if I want. What am I missing. Also a couple yrs ago this happened to me also and decided to pass. I don't want to pass on this one. Help me understand and what possible outcome or consequences could there possibly be if I decided to buy and rent a house in own????