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Updated almost 11 years ago,
How to make an offer when funds need to season 60 days
I found an deal that I want to make an offer on but I need to let gift funds settle for 60 days for a conventional 30 year loan in order to let the funds season, since underwriting needs to see two months of bank statements with no major deposits or withdrawals for an investment property. Since my statement period ends at the end of the month which just passed, if I make the gift funds deposit now, I won't be able to settle until the beginning of May. I imagine that this looks bad to the seller since settlement date is usually 45-60 days out. The property in question has been on and off the market for over a year. I am going to make an offer that is 20% below offering to get the conversation started. How would any of you handle the situation? Would you wait another 30 days to make the offer, or use the unusually late settlement date?