Buying & Selling Real Estate Discussion

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Milton Durstine
  • Rental Property Investor
  • Southwest PA
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Refinancing a Seller Financed Deal - Seasoning Time

Milton Durstine
  • Rental Property Investor
  • Southwest PA
Posted Jul 12 2022, 09:58

Hello Everyone!

Last October (October '21) I closed on a seller financed deal consisting of a triplex, duplex, and garage/ADU. So 6 total apartments. It needed quite a bit of work. Rehab is just about to finish with 4/6 apartments currently under lease. I reached out to my preferred bank to start planning for the refinance. I thought everything was moving forward perfectly until the bank called and said it's their policy that seller financed deals have a 2 year seasoning period. I'd prefer to use this bank since they've treated me well in the past but waiting 15 or so more months to close the refinance has me a bit disheartened.

Is a 2 year seasoning period typically required to refinance a seller financed deal?

Pittsburgh, Pennsylvania

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