Hello all. I have an opportunity to secure a sub2 property in the Atlanta area. Equity spread is around 50k. I would like to retail this property immediately.
I’ve never done a sub2 before. Is it possible to resale immediately after closing?
PC
Nice spread.
Yes, it’s possible to re-sell a property immediately
after you purchased it.
It doesn’t matter if you paid cash or bought it sub2.
Thing is though, if your buyers are getting funding
that requires the owner (you) to have owned the property
for a certain period of time, you may run into some “snags”
with that.
But it’s still possible, if you find the right funding source.
Good luck with it!
Why wait till after closing, I do these deals all the time and 2 out of three sell prior to scheduled closing. When writing the offer always include “the right to market prior to closing”
Worst that can happen is you Might have to make a payment before you sell it. The deal you have is the one we all look for. Work on your exit strategy so you can sell these before you have to pay for it
Yahoo !!Darin
Work on your exit strategy so you can sell these before you have to pay for it
Even better. :beer
Great advice everyone! Thanks a million.
PC