Granite Bay properties come in all shapes and sizes. For that matter they also come in a variety of conditions. That said, up until now FHA has had an issue with all you industrious investors buying, fixing and reselling homes in less than 90-days. Well guess what? It looks like there might be some light at the end of that tunnel. For those of you interested in buying and rehabbing houses to sell, here is some news just for you or for someone you know who
could use this information.As of February 1, 2010 and lasting for one year unless extended
the anti-flipping policy on homes sold in less than 90 days is lifted.
That means an investor can buy and home and flip it right away and the buyer can use an FHA loan.
Most likely the date of the contract would have to be February 1, 2010 or later.
There are conditions you should be aware of so click here to download a short pdf with the details.
Call me if you have questions and remember...
I am here to keep
you informed, help you succeed and have a seamless transaction from
start to finish!
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Jason Elrod
Broker / Realtor
916-626-4266
