Legal Question in Real Estate Law in Florida
oK but do properties that where purchased as a short sales have a time frame that needs to be waited before it can be resold to another person? actually is there a waiting period for any property to be resold? legally can i purchase a house 1 or 2 days later if it was purchased by seller as a short sale a few days before.
thank you
Asked on 10/26/11, 5:34 am
2 Answers from Attorneys
Joseph Brien
THE PEOPLE'S ADVOCATE
Bank of American has a 30 day waiting period to resale after a short sale; otherwise, a property can be flipped immediately.
If you were the seller/original mortgagor, the transaction can be construed as mortgage fraud. Although I have not heard of any charges being brought or lawsuits being filed, there is a 5 year statute of limitations for mortgage fraud.
954.320.6940
Answered on 10/26/11, 8:00 am
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