All Forum Posts by: Matthew Pivach

@Wayne Brooks, 

Right. I think it really depends on what the lease says. There could be some provision affording the Seller the right to terminate the lease with notice in the event the property is listed for sale, but I doubt that's the case given the Seller didn't mention that being an option.

Thanks, Kevin!  I really appreciate the advice.

Hey everyone! I've got a FHA loan question. I'm looking at submitting an offer on a duplex. My goal is to live in one side and rent the other out. Currently, both sides of the duplex are occupied, and I would not be able to move into the duplex until October (6 months from now) because that's when one of the tenant's leases expires. (The other tenant's lease doesn't expire until 18 months from now).

My question is in regards to FHA occupancy requirements.  I'm really interested in obtaining a FHA loan, but I've read that the borrower must occupy the property within 6o days of the loan being issued.  So, I was wondering if there were any exceptions to this rule given that I'm not able to take possession of the premises due to the leases currently in place.  I'd obviously move in as soon as one of the current tenants leave, but that will be past the 60 days I've read about.   

Hopefully that makes sense!  Any feedback would be awesome.