auction trustee sale bank seasoning rules

[David Hunt]

Anyone knows if there's any seasoning rules on flipping a property that was bought at the auction sale trustee?? I'm thinking about buying a property at the trustee auction and I would like to get more details if the banks are letting people buy and sell within 30 days or less without any issues regarding seasoning ect... Ive been reading lots of interesting topics in this forum and you guys are great!!Any advice would be helpful thanks.

[Jon Holdman]

If by "auction sale trustee" you mean a foreclosure sale, then the foreclosing lender can't possible put any restrictions on the title. They're not the one giving you title, the trustee is. Here in CO, this is one of the simplest wholesale transactions you can possible do. You have some period of time (11 days, IIRC) for the public trustee (county office here) to issue the deed, and it can be in anyone's name. If you find a buyer before that period is up, you can have the public trustee deed it directly to them.