Updated over 6 years ago on . Most recent reply
Freddie Mac restrictions
Hey guys, maybe some of you can help. I just got a Freddie Mac purchase agreement back from my agent. The agreement has a ton of restrictions. It requires that I move into the house in 60 days or use the house as a second home. If I sell it or rent it out to someone else, I could be assessed damages of at least $10k or the purchase price.
It's totally unrealistic for anyone to move in in 60 days based on the condition of the property.
I'm prepared to pay asking price all cash ASAP. Is there a way around this embargo? Anyone seen this before? It's a perfect flip and I'd hate to miss out.
Thanks in advance!