Question about occupancy requirement (fee, loan, property, lender)

[hawthorn1]

We have owned our home for 6 months and signed a paper that said we would occupy this as our primary residence for 12 months. We realize now this isn't enough room for us, and for just a little more money we can get something more suitable. We've already spotted a couple of houses we like, and I don't care about the costs of doing this as we'd rather move now and not lose more later when we are 100% sure we aren't staying. We would price it for what we paid so obviously don't expect to profit.

Does the 12 month occupancy agreement prevent us from selling before 12 months, or is that just prevent renting it out? I didn't think anything of signing that when we purchased, as we intended to live here for a good long time. I don't want to be in any kind of trouble, so I thought I'd better look into this. Thanks!

[davecj]

Typically it's stated in your closing docs. Iirc homepath was a year or a $10000 fee if you moved early not due to hardship.

[hawthorn1]

It wasn't a Homepath. It was a conventional loan. All it says is:

We shall occupy, establish, and use the Property as principal residence within 60 days and shall continue to occupy the Property as our principal residence for at least one year after the date of occupancy, unless Lender otherwise agrees in writing.

Thanks!