Flipping and Seasoning

by Jamie on July 28, 2009

I am seeing more homes for sale in Queen Creek and other areas like Maricopa, that are not foreclosures or short sales- with a note about “seasoning” and it has nothing to do spices_thumb Flipping and Seasoning with salt and pepper.

FHA will not allow any contracts written until the 91st day after the last deed was recorded. And after that wait period, if the profit is deemed excessive, two appraisals will be required.   Additionally, if you are thinking, that’s okay because conventional, VA or USDA do not have “seasoning requirements.”    Think again- All banks now have guidelines for seasoning

Many of the buyers that are not investors, are first time home buyers that will be using FHA financing, buyers need to aware of seasoning, and find their lenders specific guidelines for seasoning.

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