Freddie Mac / Fannie Mae guidelines for flip properties

[Navin Kumar]

Folks,

Can you please advise what are the latest rules for a buyer while considering a property that is being flipped by the seller ? If there any 90 or 180 day rule that prevents the sale of a flipped home to a buyer trying to get an FHA or conventional loan ?

Please advise.

Navin

[Greg H.]

Are you buying a FNMA foreclosure to flip ?  Not all is clear by your question so hear are some basic rules :

If you purchased a FNMA to flip there is a deed restiction that you cannot sell for 90 days for more than 120% of your purchase price

Selling a property to an FHA buyer irregardless who you purchased it from, you make not contract with the buyer until your deed has been recorded for 90 days . Conventional loans do not have these restrictions but always verify with your buyers mortgage company prior to signing a contract as their investors may have restrictions in place