What does owner occupant buyers mean – Northville real estate talk

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So you have been looking at Northville real estate listings and you see in the listing ticket something about an owner occupant period.  What does that mean to you?  The federal government wants homeowners that will live in the house to get first chance at a Northville home over an investor.

Banks have gone along with that idea because selling a foreclosure to a person who will live in the house and pay the payments is more likely not to go into foreclosure.  An investment property usually is not maintained as well, and has a higher likely hood of going into foreclosure than an owner occupied property.

Usually a Fannie Mae or bank owned owner occupant period is 15 days.  HUD home owner occupant period is 10 days.  What that means is only owner occupants can put in a bid during that period.  No investors can bid.  You must live in the house.  It also cannot be your second home.

Why can’t I buy that foreclosure? is a question many buyers ask when they see a pre-foreclosure listing on Zillow.  Answers to foreclosure questions.  Here is a list of Oakland County MI foreclosed homes past and present.

What are the Best lakes to Live on in Waterford Michigan Lots of information on the lakes and homes for sale on lakes in Waterford.  If you want a community that has better schools then maybe Lake Homes for Sale in West Bloomfield might be another area that you should check out.

Here is another crazy event that most people do not know about Worldwide Howl at the Moon Night!

Do not let somebody else get the best home deals.  Join my Forclosure VIP club and get the newest lakefront foreclosures and the newest lakefront listings emailed to you daily.

 

 

 

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