Posted by Jim IL on December 19, 2000 at 19:50:55:
Brian,
Do not even bring up the issue unless the buyers lender does.
I have read here also where several REI’s have had to deal with this issue repeatedly, but I have not had this problem very often.
why worry if the lender has not said a word?
IF the lender says “No”, based on the title seasoning issue, then find another lender.
they are out there.
And if you cannot, THEN come back her for some ideas.
Good luck,
Jim IL
L/O Pros How do I sell w/season requirement??? - Posted by Brian
Posted by Brian on December 19, 2000 at 19:34:02:
I have a sandwich L/O where my tenant buyer is applying for financing and think he will be approved. I have read and heard from several sources that lenders are requiring the seller to be on title for 12 months now. How can I close this deal???
Please give me an example or someone who has done one of these lately to correspond with. I do not really want to let the owner on title know how much I have optioned the house for. However, if it is the only way I will probably offer to share the wealth and get something rather than nothing.
Thanks,
Brian
Can do no season purchase - Posted by Edd Lay
Posted by Edd Lay on December 19, 2000 at 20:10:13:
Call Brent Naylor at 910-261-6989. He can do no season purchase or refi’s 525 min fico up to 100% ltv.