FHA 90 Day Flip - Does it get dragged out because of this?

[Aden M.]

Hi everyone.

I am new here,  but have been reading the forum for awhile and decided to register because I have a question that we cannot find an answer for. 

I have done a few flips over the years and just bought a house for 65k cash at auction in January of this year, the reno went amazing because for some reason there was a major abundance in contractors available to work when compared to my previous jobs. We finished the reno in 2 months and put it on MLS.

My husband is a real estate attorney, and the broker (this is his first time being broker on one of our listings). Neither of us knew about the 90 day restriction for buyers using FHA loans until we received and accepted an offer earlier this week (offer is for 220k) and the buyers agent told us that we can't sign because its been less than 90 days since I bought the house..

All seemed well because next Monday will bring us to 91 days, however, we originally recorded the house in just my name so that my husband could get a broker commission as he "represented" me. The original recording in my name was on January 5th, and on January 19th I did a quit claim to put it into our deferred entity (an LLC). I am still the owner of the LLC.

So this brings my question, will this reset the 90 clock to begin on the 19th, or can we count January 5th as the original date? We are trying to get an answer ASAP because we need to go under contract to pull it from MLS. We also don't want to wait another 13 days to sign because then we can't pull the appraisals and it will just delay everything further.

Any advice will be appreciated. Thanks a lot!