You most likely can but I would verify with your broker that they are OK with that restriction.

I had an offer on a listed house rejected several years ago because the seller did not want to sell to an investor.

If HUD can list houses for owner occupants only, why can't you?

Also stress to your seller thay you will sell to someone who says they will live there but once your sale closes you lose control.

How will you structure that owner financing?

Ray, I have no problem committing to flipping it,if that is the agreement i will honor it and make sure he knows after my sale that i did as agreed.

Thank you, Ken.

"If HUD can list houses for owner occupants only, why can't you?"

GKARL, I like your line of thought, but (as I'm sure you already know) the Govt gets away with doing tons of stuff that We the People aren't allowed to do. So, while I appreciate and share your spirit, I've been let down by that line of thinking more than enough times to realize it's a non-starter.

Ken,

Sounds like an interesting deal, for sure. I have to approach from the Golden Rule standpoint: if I sold a house to someone who promised to fix it up and sell to an owner occupant, how would I feel if he sold it to an investor? Probably like the Buyer lied to me, which would make me never want to do business with him again. If this guy, as you said, makes lots of money and wants to do good in his community, you may have even more opportunities down the road if you play this one right. And maybe he has friends who would also be interested in making your acquaintance. Rich, generous people tend to hang out together.

Think in terms of the long game... good luck!

Btw, sorry I missed something in my response... you are of course planning to honor the deal, but can you do so legally in this world of frivolous lawsuits? I wasn't trying to besmirch your honor. But that's how the Seller might see it, even if you're just trying to avoid trouble.

Yes, I think you can refuse investor offers. See about adding a temporary deed restriction that only allows a one-time sale to an owner occupant. A real estate attorney should be able to advise you.

I was looking at a house last month close to me on auction dot com. It was only open to owner occupied bidders.

Just saw today that it is open to everyone starting tomorrow. I would like to get it but need to be sure.

Anyhow, if they can say it is only open to OO then I do not see why you couldn't.

Create your own HOA just for that house and the bylaws say no rentals or investors.