How quickly can you flip or resell a home in michigan from the time you get the deed?

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How quickly can you flip or resell a home in michigan from the time you get the deed?

I have purchased real estate through an auction and now my potential buyer says that his lender will not do anything until I have had the deed in my name for at least 90 days!

Asked on June 18, 2009 under Real Estate Law, Michigan

Answers:

J.M.A., Member in Good Standing of the Connecticut Bar / FreeAdvice Contributing Attorney

Answered 12 years ago | Contributor

There is no requirment that you hold a deed a certain amount of time before conveying the property.  In fact, you can do this in one single day.  If the buyer is gving you a hard time then maybe you can find a new buyer.  If you want to deal with this, then wait for the 90 DAYS.  I suggest informing the buyer they do not need to wait and suggest having them have their own lawyer give them this advice so they dont feel you are stuffing this down their throat.


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