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All Forum Posts by: Richard NA

Richard NA has started 1 posts and replied 1 times.

Buying & Selling Real Estate

Post: Rent Back to Seller for Extended Period

Richard NAPosted
  • Posts 1
  • Votes 0

I'm looking to buy a property as my primary residence. The sellers are about to start building their new home. We have negotiated a deal where, in exchange for a discount on selling price, they get to stay in the property rent-free until their build is complete. This obviously might take a while. Our agreement will be for 1 year. How can I do this without causing the lender to classify it as investment property (which is a different loan with higher rates AFAIK) ?

0 Votes