Owner Occupants Purchasers Only on IndyMac Shortsale?

I represent a cash buyer/investor interested in purchasing an IndyMac short sale.  Listing agent says that IndyMac will give approval only if purchaser is owner-occupant.  I've never encountered such a restriction on a short sale as a listing or buyer agent.  Has anyone else experienced this, or is the listing agent dazed and confused?

 

 

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Permalink Reply by Jeff Payne on July 20, 2011 at 7:17am
Never heard that, have closed a few indy mac deals with investor buyers
Permalink Reply by William "Andy" Alford on July 20, 2011 at 7:21am
Thanks for the info!
Permalink Reply by Smitty on July 20, 2011 at 9:39am
I'm with Jeff.  I've closed indy mac with investors..unless this is something new, but if it is, they are bordering on discrimination.
Permalink Reply by William "Andy" Alford on July 20, 2011 at 10:02am
Hello Smitty, I appreciate your insight.

Smitty said:
I'm with Jeff.  I've closed indy mac with investors..unless this is something new, but if it is, they are bordering on discrimination.
Permalink Reply by Nathan Miller on July 20, 2011 at 2:40pm
Just closed one a couple weeks ago, only thing was they required an addendum stating the property would not be resold within 90 days of closing.

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