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Updated about 5 years ago on . Most recent reply

User Stats

21
Posts
7
Votes
Garrett T Colburn
  • Rental Property Investor
  • Owensboro, KY
7
Votes |
21
Posts

FHA house hack closing complications due to Covid-19

Garrett T Colburn
  • Rental Property Investor
  • Owensboro, KY
Posted

So I’m under contract to close on a fha househack duplex. Both units are occupied but the tenants in Unit B are in process of eviction from the current owner, and that’s the side we’d be moving into to. I know I have to live there for this loan. We were supposed to close last week, but in the contact I put that the tenants needed to be out before we would close. They weren’t out and the owners court date for the eviction hearing was supposed to be yesterday. The courts pushed all civil cases like this back until April 14th due to Covid-19. I am not sure if it will be pushed back further. My question is, since I am needing to close ASAP for my loan to still be good, could I go ahead and close and put in the contract that the owner must continue with the eviction? (The owner is also a big time property manager in this city). He was the one who offered this option to us when we spoke to him. I have been told by my loan officer that we have 60 days to occupy the home after close. That should be more than enough time for the eviction to finish. Any thoughts?

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