2007-02-12 10:09:38 · 5 answers · asked by Monica W 1 in Business & Finance ➔ Renting & Real Estate
Further more...you don't have to even own a property to sell your interests in a property.
This is what occurs when you assign an accepted contract for a "lift" or a premium over what you have contracted to pay for a property.
If you have an accepted subject free contract to purchase a property, someone can purchase your contract and pay you for that privilege before you have completed on the deal and they would have no problem with the financing...the financing would come into effect on completion and everyone is happy.
Now that is what I call flipping! You don't even complete on the deal and you make money!
Therefore owning a property for 6 months would have no bearing on a Buyers ability to obtain financing.
2007-02-12 10:26:06 · answer #1 · answered by glen s 3 · 0⤊ 0⤋
I can help you with this. I know there are some subprime lenders that want six months seasoning on title for seller, but for the most part this only applies when your refinancing the property. If you just looking to sell you should have no problem whatsoever with your seasoning on title as long as it's not a family member your selling to.
If you need any help with financing as an investor or for you buyers check out www.fivestarsmortgage.com. Lots of info for buyers there along with tools and calculators. I'm always available to answer any questions you may have. Hope this helps :)
2007-02-12 18:57:24 · answer #2 · answered by Anonymous · 0⤊ 0⤋
Most lenders do not have a problem with a "flipped" property as long as you can document the things that you did to increase the value of the property. If the appraiser comments on recent upgrades, etc. you won't have a problem. There are a handful of lenders that will NOT allow it no matter what but that is not common but if you have really increased the value of the property, you shouldn't have a problem.
2007-02-12 20:20:41 · answer #3 · answered by Anonymous · 0⤊ 0⤋
I don't think your buyer's ability to obtain a mortgage has anything to do with how long you owned the property.
2007-02-12 18:16:06 · answer #4 · answered by Insurance Biz CT 5 · 0⤊ 1⤋
lots of lenders do not have time requirements. You need to go to a good mortgage broker. They can tell you what your options are.
2007-02-12 18:26:51 · answer #5 · answered by Ron B 3 · 0⤊ 0⤋