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Buying & Selling Real Estate

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Monica P.
  • Burlingame, CA
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Getting engaged after purchasing primary residence

Monica P.
  • Burlingame, CA
Posted Nov 3 2017, 10:16

Hi there, I just closed a week ago on a primary residence that is my first home purchase.  It is a 4-unit building and I was planning to live in one of those units (per the mortgage contract, I need to move in within 60 days and live there for 1 year).  I have provided notice to evict one of the units and move in.

Now, my boyfriend and I are discussing getting engaged, and if we do, we would like to rent a place closer to where we both work.  Should I, and do I need to, write a letter to the bank to request permission to live elsewhere and rent out all the units in the building I just purchased?

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