The FHA's 90-day flip rule blocks some buyers from getting financing. Steve D. Valentine shows how agents can save the deal with a lease-purchase: lock the price, have the seller cover commission and closing costs, let the buyer move in and pay rent, then close after the appraisal is ordered.
The other thing too, that's a little bit tricky about this price range is knowing, is your buyer FHA? Because then we have the 90-day flip rule. Dead issue, right? Nope. Nope. We don't do dead issues around here. We remove obstacles. This is how it would work. You're like, cool, dude, we settled on $350,000. We're gonna pay your agent, we're gonna pay your closing costs, we'll do inspection, and you're ready to move in. So let's do a lease purchase, lock in your price, do your inspection, go ahead and move in, you pay rent. And then the minute we can get the appraisal ordered, all we have to do is close on it. Still solving the problem.
It’s Not What Your House Is Worth; It’s What It Can Do for You (Pause, Identify, Respond)
