Owner occupancy Condition

[John Matthew Johnston]

I am trying to acquire another property and it’s a very sweet deal, the problem is I want to flip it or rent it and conditions of the sale says that end users have first dibs before investors can buy it.(20 days). It’s a hot deal and it won’t stay on the market for even the next week or so. This may be a rookie question but is there a work around?

[Jason D.]

@John Matthew Johnston without committing fraud. You just have to wait

[John Matthew Johnston]

@Jason D Don’t wanna do that, thanks for the reply!

[James Mc Ree]

If it helps, your competitors have to wait too.  Certain offers are reserved for owner occupants first to give them a chance to acquire the property that investors wouldn't give them.  Don't assume the price you see is what you or the owner occupant will end up with.  Properties are often listed low to generate interest.  The bidding war sets the price.  Don't be surprised if the seller says, "Thank you for your offer.  We'll get back to you in a couple of weeks."

[John Matthew Johnston]

@James Mc Ree Thanks for the reply, it’s actually a foreclosure.

[Whitney Hutten]

What part of the foreclosure is it in?  You could try and call the bank directly.  I've had limited success with this, and you may get someone to give you more specifics on timelines.  But you will probably just have to wait...

[John Matthew Johnston]

@Whitney Hutten ok I may try that, thanks for the reply