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6 Comments on Any ideas for getting around the 90 day hold time?
Luisa, all FHA and VA loans are subject to HUD guidelines, no way around it that I am aware of. (I looked in to this recently for a client and was told no no no)
Also, be aware that between 90 & 180 days a 2nd appraisel will probably be necessary so talk to your investor about that added expense (the buyer cannot pay for it as far as I know.)
Use seller financing or other private funds. Tell the private fund investor the situation. I need to borrow funds for 90 days, pay them a return on their investment then refi. Fairly simple. Write up a prommisory note and a mortgage and you are good to go.
His options are seller financing or to hold the property for 90 days if he doesnt have the funds to hold the property for that long or wont make money maybe it's not a good deal.
Hi Luisa,
Nice problem to have.... Ask your investment title person about the term "WRAP"
Looks like the other comments have covered the options I know of. Lenders just don't seem to want short or long term investors. We really need long term investors. People who rent do need a place to live..
the only way to do that is to jump the title, but I am almost certain that is not legal...that is a problem for many investors who want to flip properties...