Tag: Property Flipping

Property Flipping & VA Financing

Question: Are there any silent VA guides for property under 90 days? Answer: VA has no flipping policy (like FHA does) and would allow an immediate resale. However, you can expect close value scrutiny from an underwriter on any flip situation. What that ‘scrutiny’ will entail as far as tolerance for sales price vs seller’s […]

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What Date is Used for the Seasoning Requirement on a Flipped Property?

Question:  What date does FHA use as the start date for the seasoning requirement on a property being flipped? Answer: Typically, “legal ownership” happens at recording. That said, we are not attorneys and cannot speak to the land ownership laws of any state. FHA does not provide us with a specific definition of “legal ownership” […]

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FHA – 1031 Exchange & Flipping Requirements

Question: I have a property that transferred title on 05/16/19 due to a 1031 Exchange. Is this considered a flipped property since it was transferred to a corporation during the exchange? Answer: FHA does not address your situation directly in the guidelines. However, they do discuss a similar situation in the FHA FAQ database. As you can […]

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