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Updated almost 7 years ago on . Most recent reply

User Stats

47
Posts
2
Votes
Michael Willis
  • jersey city, nj
2
Votes |
47
Posts

Seasoning of purchase money required?

Michael Willis
  • jersey city, nj
Posted
If one is attempting a 1031 with Bank financing for the purchase, how do banks treat the fact that the proceeds of sale A may be used almost immediately for the purchase of sale B? My understanding is that under normal circumstances banks want the funds in the account for at least 3 months before being used for another purchase, aka “seasoned.”

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