Waiting period for investors on Properties ??

[Darcy Murnaghan]

We are looking at some perspective properties that just came onto the MLS system. They seem like great deals after we ran the Cma's etc.
Problem is we are unable to make an offer because of some waiting period that holds off investors for around 15 days (not sure exact amount of days).

Is there anyway around this?

What is this process called? I heard of it before but having a hard time finding more info about in.

Possible properties are in NC.

Any thoughts are appreciated.
Thanks in advance,

[Scott Hubbard]

Originally posted by Darcy Murnaghan:

We are looking at some perspective properties that just came onto the MLS system. They seem like great deals after we ran the Cma's etc.
Problem is we are unable to make an offer because of some waiting period that holds off investors for around 15 days (not sure exact amount of days).

Is there anyway around this?

What is this process called? I heard of it before but having a hard time finding more info about in.

Possible properties are in NC.

Any thoughts are appreciated.
Thanks in advance,

Generally you will find that properties which need a major rehab will not be sold during the waiting period. Most owner occupied homeowners do not want a major project, so the lipstick and mascara rehabs go fast.

Also, Fannie and freddie will actually rehab some of the properties (to a slight degree) in order to sell to owner-occupants.

Lastly, if an easy rehab gets listed, there are a ton of agents sharking the MLS for light rehabs. Chances are they will not filter down unless you have previously built relationships with the listing agents.