Private Lending & Conventional Mortgage Advice
Market News & Data
General Info
Real Estate Strategies
![](http://bpimg.biggerpockets.com/assets/forums/sponsors/hospitable-deef083b895516ce26951b0ca48cf8f170861d742d4a4cb6cf5d19396b5eaac6.png)
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
![](http://bpimg.biggerpockets.com/assets/forums/sponsors/equity_trust-2bcce80d03411a9e99a3cbcf4201c034562e18a3fc6eecd3fd22ecd5350c3aa5.avif)
![](http://bpimg.biggerpockets.com/assets/forums/sponsors/equity_1031_exchange-96bbcda3f8ad2d724c0ac759709c7e295979badd52e428240d6eaad5c8eff385.avif)
Real Estate Classifieds
Reviews & Feedback
Updated over 4 years ago on . Most recent reply
Hard money loans and seller occupied houses
I have a pretty good prospect on My 1st fixed and flip house after putting up some bandit times around my area and was able to find a house valued around 200 K and asking prices around 120 K With about 15K work as far as I can tell. Now he asked me a pretty interesting question that I didn't really know about, and he wanted know if it would be possible to live in the house after I purchased from him for a short time until they find their own house to live in using the funds I've given them for the deed. I Will be financing this property the normal way using a hard money loan. Am I right to assume that a hard money lender would not approve of this And is it true that a hard money lender only lend if the house is vacant? It is easy to anticipate that quite a few things go wrong in this scenario, like they could take a very long time to find a house to live in, Even months, and things could get really ugly if I would be forced to evict them which could take who knows how long.
Is it unheard of to put into a contract saying that the seller has 2 weeks to move out of the house after the sale and The deed is transferred over Using a hard money loan?