Will There Be A Problem With Seasoning

I have a property(FSBO) under contract for 126K. This is a newbie selling his house way below market way which is actually 170K(based on my research). The seller, 23 years old, owned and lived in the house for 2 years. Now he wants to sell it as he wants to make some money. He stands to make around 15K if I buy it from him for 126K. The house in in great condition and I don't see anything visibly wrong with the house. The home inspection report came out to be decent. This is a case of an ingnorant seller who is unaware of the market.
My plan is to close on the property and sell it back using a realtor for maybe around 160K. I could do some cosmetic work (new coat of paint). Will I have any problems with seasoning since I will be holding the property for less than 3 months? I don't want to wholesale on this deal because I fear the seller will become aware of this and increase his price. Any advice? Thanks

Comments(1)

  • fmmp20th October, 2004

    Not all lenders care about seasoning as long as there are comps to support the deal.

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