[i][b]Hi,
My name is joe, and I was wanting to know if a realtor will let me use an option to purcase contract on a house they have listed? And then turn around and sell it to the buyer I have. Also what if my buyer has a big down payment but he will need to finance the rest, am I going to have trouble with seasoning? If so do you know of another tactic I can use? I am trying to do this in california. Thank you so much for the help!
Sincerely,
Joe[/b][/i]
You would probably be better off getting a referal fee from the agent. It is not up to the agent, the seller will decide to take the option to purchase. While it is possible, it is unlikely especially if the seller is a bank. You could use flip funds and wholesale the property.
If your end buyer is trying to use FHA, then yes, you’re going to run into the 90-day seasoning requirement. if the endbuyer is using conventional non-FHA financing, then the title seasoning requirement is dependent upon the lender.
Why not use transactional funding to buy the house and double close to your end buyer.
I think Jake is right here in this point. Transactional funding is a good way if you don;'t have enough in your pocket. Also it’s risk free.