Cash purchase then refinance

[Henry Bass]

If I make a cash purchase, is there a time limit before I can refinance to get my cash back?

[Ryan Wosick]

Hi @Henry Bass it really does depend on the bank. Most require a 6-12 month seasoning period prior to refinancing. But I have seen banks that will do without the seasoning period. 

@Joe Villeneuve this is called delayed financing. It often is used to allow a buyer to make a more attractive offer if the property is listed on the MLS or when the seller needs to close quickly, like when dealing with off-market deals and wholesalers. People also use this method on flips or BRRRRs. Same idea as using hard money, but without the additional interest and lending fees.