I buy REO properties in Bulk. The question has arisen. Are they subject to FHA seasoning rules on first resale?
Thanks
yes they are i was asking my local bank the other day about buyer buying house with fha and they require seasoning and copies of checks for proof before selling to your buyer.
Only if the person you are selling it to is getting an FHA backed loan. In that case you’ll need to hold title at least 90 days prior to the buyer getting funding. This of course in on a lender by lender basis, but from what I have been experiencing in Atlanta at least 90 days
If the buyer is going to pay you cash for it, title seasoning isn’t an issue.