does this mean u must live there 24/7?
what if u want to stay at another house 2 or 3 days a week?
2006-06-20 10:58:36 · 6 answers · asked by pinky 3 in Home & Garden ➔ Other - Home & Garden
It simply means you can't rent it out to a non-owner. If you are referring to the property itself or the financing, that could mean 2 different things. Some condos or homes in an association do not allow investors to own units for rental purposes. Lenders offer financing rates based on whether the property financed is going to be owner occupied or investment. If your intent is to use the property for yourself, but your situation changes after closing, you will be allowed to rent it out to cover the payment as long as it is not against the rules by an association or other deed restrictions.
2006-06-20 11:05:45 · answer #1 · answered by larry r 3 · 4⤊ 0⤋
It means you have to live it it you cannot rent the property. You Can go away for a few days or weeks but you must be using the property as your main residence.
2006-06-20 11:02:38 · answer #2 · answered by lelekid4ever 5 · 0⤊ 0⤋
It must be your primary place of residents, check with an attorney, but if you stay there 4 out of 7 day's I believe it would qualify as your primary place of residence
2006-06-20 11:04:32 · answer #3 · answered by Pobept 6 · 0⤊ 0⤋
if you are buying it then staying where you want three days a week should be fine you are still occuping the the place but why would you want to buy a place unless you were going to be there
2006-06-20 11:03:59 · answer #4 · answered by shopgirl27 3 · 0⤊ 0⤋
It has to be your primary residence, you would have to receive your mail there.
2006-06-20 11:03:49 · answer #5 · answered by Dawnie 1 · 0⤊ 0⤋
it means that it can not be used as rental property...
2006-06-20 11:03:15 · answer #6 · answered by Anonymous · 0⤊ 0⤋