I have an offer on a short sale with my end buyers in place. My agent was told that the mortgage company is making me sign a "flip affidavit." It says that I must hold title or at least 90 days. This isn't the first time I have heard of this but my question is how have some of you got around this. The contract is assignable. Since it is assignable, can I still get around the affidavit?
I know I can sale my LLC that I wrote the contract in. I could also pull hard money, any other ideas???
Thanks in advance..
I have an offer on a short sale with my end buyers in place. My agent was told that the mortgage company is making me sign a "flip affidavit." It says that I must hold title or at least 90 days. This isn't the first time I have heard of this but my question is how have some of you got around this. The contract is assignable. Since it is assignable, can I still get around the affidavit?
I know I can sale my LLC that I wrote the contract in. I could also pull hard money, any other ideas???
Thanks in advance..