Hi welcome to Just Answer. I will help you with your question.
No, there is no general rule like this at all.
Each mortgage company has its own rules on things like this, and each may differ.
I was watching the property auction show, homes under the hammer. On that show a buyer was cautioned of this.
Whilst some might not want to lend on property that changes with such frequency, others would be happy to do that. There is no one size fits all for this type of thing.
ok, so perhaps on the show it was in the legal pack for that particular property.
There is no legal reason that you cannot sell within 6 months, nor is there are general rule that applies to all lenders, although I accept some might view an early sale like this as suspicious and might not want to lend on the property, but equally, some lenders would.
Great! Thanks for your time and info!
Thank you too!
Have a good evening.
You too :-)
I hope this answers your question. If you need further information, just let me know. Please do remember to rate my answer as highly as you can.
DISCLAIMER: Answers from Experts on JustAnswer are not substitutes for the advice of an attorney. JustAnswer is a public forum and questions and responses are not private or confidential or protected by the attorney-client privilege. The Expert above is not your attorney, and the response above is not legal advice. You should not read this response to propose specific action or address specific circumstances, but only to give you a sense of general principles of law that might affect the situation you describe. Application of these general principles to particular circumstances must be done by a lawyer who has spoken with you in confidence, learned all relevant information, and explored various options. Before acting on these general principles, you should hire a lawyer licensed to practice law in the jurisdiction to which your question pertains.
The responses above are from individual Experts, not JustAnswer. The site and services are provided “as is”. To view the verified credential of an Expert, click on the “Verified” symbol in the Expert’s profile. This site is not for emergency questions which should be directed immediately by telephone or in-person to qualified professionals. Please carefully read the Terms of Service (last updated February 8, 2012).