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Updated about 9 years ago on . Most recent reply

User Stats

140
Posts
70
Votes
Chris Brown
  • Rehabber/Contractor/Business Manager
  • Atlanta, GA
70
Votes |
140
Posts

90 day "seasoning" on a flip property

Chris Brown
  • Rehabber/Contractor/Business Manager
  • Atlanta, GA
Posted

Good morning all,

I recently heard that a property purchased to flip in Georgia would require a 90 day "seasoning" period between the time purchased and when a loan cold be approved for the property for the buyer. 

Does anyone have any information on this?

Thanks

- Chris

Most Popular Reply

User Stats

140
Posts
70
Votes
Chris Brown
  • Rehabber/Contractor/Business Manager
  • Atlanta, GA
70
Votes |
140
Posts
Chris Brown
  • Rehabber/Contractor/Business Manager
  • Atlanta, GA
Replied

Thanks @J Scott, solid feedback as usual.

I believe what I heard was probably referring to an FHA loan.

So, presuming it was not a Fannie Mae REO originally and the buyer is not using FHA, then there should be no "seasoning" period?

What is this restriction referred to? I searched "seasoning" but did not find much related to this specifically. 

- Chris

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