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Updated almost 12 years ago on . Most recent reply

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27
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0
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Sam Tang
  • Investor
  • Boston, MA
0
Votes |
27
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Is there a way to purchase a property as OO if there is a lease from the prior owner?

Sam Tang
  • Investor
  • Boston, MA
Posted

Is there a way to purchase a property with a FHA with intent to Owner Occupy even though there are tenants in the existing unit that had signed a lease with the previous owner until a given date after the property is closed on? My understanding is that a lease goes with the property so you can't terminate the lease upon the sale. So could I purchase the property with a FHA loan and put off living there until the tenant lease is up then move in?

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