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Updated about 7 years ago on . Most recent reply

User Stats

9
Posts
5
Votes
Joe Kelly
  • Rental Property Investor
  • West Chester, PA
5
Votes |
9
Posts

How can I close on foreclosure and sell to buyer quick?

Joe Kelly
  • Rental Property Investor
  • West Chester, PA
Posted
Hey everybody I currently have a house under contract I’m buying from auction with hard money. My original plan was to rehab and flip it however my realtor found a buyer AS IS for roughly the same profit I’d get if I rehabbed it. Obviously I’d much rather do this but I’ve recently learned FHA loans don’t allow buying a flipped property for at least 90 days? I don’t want to risk holding it without doing any work for that long. I’m looking for any suggestions on how to go about getting this deal done. I’m supposed to close this Friday assuming I get all of the U&O items checked off by then.

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