Only available to OWNER OCCUPANTS

[Ben Thomas]

Hey everyone,

I am looking at a property to flip in Baltimore, Maryland, in the details of the listing it says:

This is an NSO Bank Approved Short Sale and available only to OWNER OCCUPANTS.

I am trying to figure out what the details of this are. I personally own my own home and have no interest in living in this while it is being fix up and sold. Can I purchase the property in another persons name? 

Yes my intention is to purchase the property as an investor and resell it. 

What options do I have, and why wouldn't a bank be willing to sell to anyone?

Thanks

Ben Thomas

[Russell Brazil]

The bank is letting the property go at a loss.  They are not interested in losing money to help an investor make money.  At closing you will have to sign an affidavit saying you plan on living in the house a minimum of 1 year. I suggest not purchasing this property if you plan on flipping it since you would then be guilty of mortgage fraud.