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Purchased a house on 203K a year ago, can I sell it now

I purchased a house on 203K in Jersey city, it has aleady been more than a year. 
I just recently received the CO from Jersey City busilding department, my queastion is becasue it is a 203k loan does my 1 year counter to live in the house begin from the day I received the CO or from the day I closed the mortgage, because I have been living for over a year already at the house.

  • September 25 2013 - Jersey City
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Answers (4)

It appears that since you have been living in the home for over a year you should be good to go. I would be surprised to hear that you had any issues. people housing needs change and there are often circumstances that require a move. We offer 203k loans, and all other types of mortgages if you are selling & buying another NJ home! (local NJ Direct Lender)
Best of Luck to you-
  • October 07 2013
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Realtors cannot answer the specifics of this, as answering it would constitute legal advice which the NJ Association of Realtors does not allow.  I would say two things:

*Always seek advice from a professional.  In this case, your mortgage company may be able to provide clarity on the issue.  You can also ask a real estate attorney.

*It is never too soon to be thinking about how you will go about the sale.  Please feel free to contact me and I'd be happy to discuss strategies with you.

Hope that helps!!!
  • October 01 2013
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Yes, your lender will be able to answer this immediately. Why did it take so long to get your CO?
  • September 25 2013
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Profile picture for Ofe Polack
Check with your lender.
  • September 25 2013
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