Selling owner occupant Fannie Mae property before 1 year

[Jacob Hollen]

Hi i had bought a Fannie Mae homepath (owner occ.) property with the intention of BRRRR'ing it and ended up getting a lucrative job offer on the other side of the country and it would be more convenient to just sell it as is, I put a Zillow listing up and have multiple offers for 250% of what I had paid for it, and it will be more of a financial strain to complete the rehab than pocket the difference as is, my question being: is there any exception that you can sell a property before the 1 year rule due to having to relocate? Or do the same rules still apply?

[Bill B.]

If you’re within a couple months. How about finding a seller that gives you say $10,000 option payment that could be applied to the purchase of the property 2-3 months in the future? Most purchases take 30-45 days anyway. 

Maybe easier, take a larger non-refundable Ernest deposit with a closing date 2-3 months in the future with a written right to access during that time for inspections and repairs?