Property Flipping Guidelines
The Jarvis Team works with investors on selling their investments as well as buying new ones. In this market it's hard not to talk about flipping homes even if you aren't doing a traditional flip. Here's some Property Flipping Guidelines from the mortgage side of things - which is important for the buyers, you know the ones trying to buy your flip (if you are flipping that is).
FHA Mortgages On "Flips"
Homes that qualify for HUD's Temporary Flip program (re-sold within 90 days or less) require two appraisals, a home inspection, and documentation on seller improvements Any FHA required repairs mentioned in either appraisal or home inspection reports must be repaired. Properties re-sold between 90 days to 6 months…