Posted by Ed Garcia on April 15, 2004 at 11:42:10:
Chris,
You can sell your property any time you want. The only problem I see is, the 2-year pre-pay penalty will have to come out of your deal if you choose to sell prior to 2-years.
I think what your in reference to is a ?Seasoning Issue?. In your case, it?s not applicable because you didn?t ask how long would you have to hold to property in order to refinance it and pull out cash? Your question was how long do you have to hold it in order to sell it and the answer is you don?t. You can sell it when you want to.
Selling my house for profit - Posted by christopher
Posted by christopher on April 15, 2004 at 09:32:25:
Hi to all my name is chris from st. louis, missouri and I have been on this site now for about 4 years and just recently bought my first home a hud foreclosure. It sold for 58k and will retail for 111,000 I am doing the renovations myself and in the end will have a total of 64k (including closing costs) invested. Now the kicker I have a 2 year arm with ameriquest (2point pre-pay penalty, no problem) the question is how long do i have to hold the property before I am able to sell it, Ive heard 6 months 1 year and 5years can someone who knows please respond it would be greatly appreciated.