Recently on my blog talk radio show, Sheri Schmitz and I were discussing some of the nuances of flipped properties.
Many buyers with FHA government backed loans do not know that the FHA requires two appraisals on a flipped property to ensure buyers are not getting ripped off. The buyer must absorb this cost and this can mean around $400 extra if you are wanting to purchase a flipped property.
If you are an investor, you should be aware 1) that the FHA requires a home inspection within the 90-day period and 2) that due to the 90-day period, you are going to eliminate a lot of potential FHA buyers.
- Original Youtube vid – Buying or Selling a Sacramento Flipped Property 01/05/2011
Home Buyers
- Home Sellers
