Kevin is a Real Estate Agent at WLM Realty. He is a local Realtor serving the greater Southern California area. Kevin's passion for helping families navigate the home buying/selling process stems from his family’s journey of achieving home ownership. He is working towards helping families achieve the American Dream of home ownership all over Southern California.
“You must first check with your lender about any specific restrictions they have about renting or subletting,” says Kevin Garcia, a real estate agent and broker with Inglewood, California–based WLM Financial. “You must have lived in the property for a minimum of 12 months after closing, too. However, lenders may make exceptions for certain conditions that demand renting out your primary residence — for example, a job relocation.”
Some homebuyers waive the appraisal contingency in their purchase agreement to make their offer more competitive. Here’s a look at the risks and benefits.
Appraisal contingencies help protect the buyer if the value of the home turns out to be less than the purchase price. Here’s a closer look at the definition.
To make the most of your home investment, it pays to better understand what a primary residence means.