FHA 90-Day Flip Rule & Buyer Offer

[Mike Romano]

Hey everyone,

I have a buyer ready to submit a full asking price offer on my flip, but the 90-day flip rule won’t be lifted for another two weeks. I really don’t want to lose this buyer—what’s the best way to navigate this?

Would it be a good idea to take a deposit to secure the deal until the rule clears? Or should we sign the contract now and set the execution date for two weeks later?

I’d really appreciate any advice or experiences you can share. Thanks in advance!

[Obed Calixte]

You can't sign a contract now - once both parties sign, it is executed. There is no ability to set execution date to the future.

The 90 day rule starts from the date the current deed was recorded to the date the contract with FHA buyer is signed. There are limited exemptions such as if you inherited the property where it would be allowed.

There are technical means to navigate the 90 day rule but your best bet by far is to talk to the lender and let them know the situation and ask for their direct guidance.