Aging For Rehabs - 12 Months?

Financing, Hard Money Lenders, Private Money
1

I had a buyers loan broker tell me that the deal we just sold will not be financed because the rehab value had not been seasoned for 12 months.

Is this true? Is there a way to close the deal or a work around?

Thanks

2

The broker must be using a lender that requires seasoning. Suggest to your buyer that they ask their broker to try a new lender. Wachovia and Citi do not have seasoning.

3

Yes, they are using a strict lender. Heck, even FHA only has 90 days seasoning.