QUESTION:
I have a question on flips, I purchased a new condo at a bank auction last week where the developer lost several new construction homes. I would like to flip it ASAP and list it for 28,000.00 below current appraisal and 23,000.00 below tax appraisal. The home inspection report came back good with just a couple of minor fixes. I'm sure the rule still applies here but I still have to ask your opinion. Also would a FHA loan be the quickest route to a faster sale? I know there are different rules and different time frames for different lenders.
ANSWER:
For FHA, the contract has to be dated on the 91st day after you, the seller, purchased it. If the sales price is much higher than purchase price, two appraisals may be required.
Conventional has no limitations as to when it can be sold. However, the UW will want to review the title prior to approval to make sure it is clear.
Hope this helps!
Thanks!
Kristin
Friday, September 5, 2008
Subscribe to:
Post Comments (Atom)
11 comments:
i have recently heard that this has increased to 180 days?
What's Happening i am new to this, I stumbled upon this I have found It positively helpful and it has aided me out loads. I hope to give a contribution & aid other users like its helped me. Great job.
Feel free to visit my web page :: howtocookcornonthecob.org
This paragraph is in fact a fastidious one it assists
new web visitors, who are wishing for blogging.
Also see my web site - healthy weight loss
Link exchange is nothing else however it is just placing the other person's blog link on your page at appropriate place and other person will also do similar for you.
my blog low carb abnehmen
Hey very interesting blog!
my web-site ... wordpress support
There is certainly a lot to know about this topic.
I really like all of the points you've made.
Feel free to surf to my weblog :: steinzeit diät
I pay a visit every day some web pages and blogs to
read content, but this blog offers feature based posts.
Also visit my website paleo ernährung
We're a bunch of volunteers and starting a brand new scheme in our community. Your site provided us with valuable information to work on. You've done an impressive activity
and our whole neighborhood will likely be grateful to you.
my webpage; Thai Massage Wiesbaden
If you are going for most excellent contents like I do, only pay
a quick visit this web site daily for the reason
that it provides feature contents, thanks
Take a look at my web site steuerberater stellenangebote
It's hard to come by educated people in this particular subject, but you sound like you know what you're talking about!
Thanks
my blog test lenkmatten
How did thesе answers gеt so confused it's drainin reading them.
Have a look at my web page www.swtorsaga.com
Post a Comment