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Updated almost 9 years ago,
How do you handle FHA seasoning on quick rehabs?
Being new to REI, we found out about FHA seasoning requirements only after we had a property up for sale a few weeks short of 90 days of ownership and under contract with an FHA buyer right away.
We intend to stick with vanilla-flavored starter homes so it is a given that we will find ourselves in the same situation again, and I am curious how to best handle this requirement if a property is ready to go quickly or ahead of schedule. There might be a others, but two options that come to mind are 1) Just sit on the finished property and do not list it until day 90, or 2) List it and specify NO FHA until xx/yy/20zz.
Option 1 drives up holding costs, but Option 2 seems to place a negative element in the listing, so I am very interested in how experienced rehabbers deal with this.