Seasoning of title issues...
I am buying a home from another investor. I plan on fixing and selling within 3 to 6 months. Will my buyers have any issues w/lenders and/or title insurance when it comes time for me to sell? Is there something I can do before I sign the contract? What do I do?
trump2112,
There is a title seasoning issue that has become a problem for some investors. There are ways of getting around it by:
1. Have your buyers use a mortgage broker, possibly one you refer them to, to find a non-seasoning loan for them.
2. Depending on the loan you get, you can offer owner financing or rent it.
3. Lease option the property.
You have to be creative when you need to resolve problems that arise. Those are a few simple ideas and there are other ways. Start using your thinking cap if those don't work for you.
Tanya
Thanks for the response. I've been contemplating the lease/option route but I do not know how to set my prices such as option fee, monthly rent and the amount credited to the purchase price each month? I want to do this the right way!