Lending guidelines are specific when someone acquires a property and then tries to sell it.

Note that FHA does not allow a property that has been acquired and then flipped to another buyer less than 90 days, but there are different requirements when the property is over 90 days up to 180 days flipped.

  • For resales between 91 days and 180 days requires a second appraisal is required.
  • The resale price is 100% or more over the price paid by the Seller to acquire the property.
  • If the second appraisal comes in more then 5% lower then the first appraisal, then the lower value MUST be used.
  • The Borrower cannot pay for the cost of the second appraisal.

If you are looking to sell a property that you bought less than 90 days or looking to purchase a property knowing that the seller has only been on title-less then 90 days, then you need to contact our office and speak to a licensed loan officer to see if we can help with financing.

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