Fannie Freddie Anti Flipping Requirements

[Marty S.]

Hi fellow Investors,

I am in the middle of my first solo investments flip. I contracted an abandoned property that I originally planned to due an assignment of contract on but the lack of investors and true comps avail in my area posed a problem for that strategy so I basically bootstrapped the rehab of the property and got it up to market value.

I have a pre-approved buyer, and we just completed the housing inspections, and the appraisal from my buyer's bank came back acceptable however, I received a call from their bank saying they are ready to make the loan to my buyer but cannot because the contract has my company's name on it instead of the original owners on the deed (I also have a recorded memorandum of option)and that Fannie/Freedie has anti-flipping requirements. I reviewed those requirements and I am eligible for the "less than 90 days" criteria so I guess my question is this..

Provided that I meet all the other requirements can this transaction be executed via a double closing with proof of funds? If not, is there another solution for me as the investor to protect my interest?

Contract price- $70K
Sell Price-$100K