Interesting Fannie Mae flip situation

[Sharad M.]

So I have an interesting flip situation. I bought a Fannie Mae house on June 19th and because I am unable to sell it more than 20% before 90 days from recorded deed, I decided to sit on it for few weeks before I started work on it. So we are starting work on it next week. However, I have a buyer who has seen some of my other flips that she lost out on to higher bids and now wants to make a deal right on this property before it hits the market. Deed was recorded on July 5th, so I can't really do anything until Oct 5th.

Has anyone else been in similar situation? What's the best way to handle it? There will be no agent involved from either side.

[Greg H.]

@Wayne Brooks

I know we have all debated the FHA 90 day rule however the OP is asking about the 90 deed restriction on the resale by cash, financing or other means of a FNMA foreclosure