Double closings and conventional financing from end buyer

Double closings and conventional financing from end buyer

Does anyone know whether I'll have a problem with an end buyer who is buying using conventional financing? Will their underwriter let this pass without a problem?


Any input

Anita or KimmyJ do you have any insight on this topic?


You cannot close with a FHA loan because they require that you be on the title for 90 days. So tell your end buyer you cannot sell the house if a FHA loan is involved. As for the others I am not sure. Maybe Rina, Anita, Sully, Matt or someone else is up on this.
I always require cash or hard money unless it can be closed with me being able to receive my profit.




I've had a problem selling

I've had a problem selling to cash investor's recently. First of all I'm not sure how many are legit cash buyers. Second, my list of cash buyers is relatively small right now. Seems for me the only way to wholesale is flip and double close to the normal homebuyer.

I'll find out soon.

I've got a couple deals coming up that I have question about the FHA rules. I'm going to assume it's NOT a problem until I hear different. We'll cross that path when/if we get to it, and I'll have to figure a way around it if I have to. But I'll keep you guys informed. With the rules changing all the time right now, it's hard saying what will be the case by the time something closes. Don't let that stop you from making deals. Ask your attorney or title company if you're wondering where it stands right now. And remember, not all retail buyers are getting FHA loans, so you might not even have a problem anyway.
I'll tell you one thing. There are a lot of first-time homebuyers out there right now looking. It's like REI Spring has sprung, at least here. Eye-wink



"Obstacles can slow you down, but they can only stop you with your permission." Dean Graziosi (BARM pg 101)

"For I know the plans I have for you," declares the Lord, "plans to prosper you and not to harm you, plans to give you hope and a future." Jeremiah 29:11

For a little about me, welcome to the site, and a few tips for new DG family members, click on this link:

Syndicate content