Deed restriction with Fannie Mae foreclosure.

[Ivan Reyes]

My partner and I are ready to sign off on a contract. Its a Fannie Mae foreclosure. Its being sold through an agent with a management company.

We just got the contract and article 14 has a deed restrictions. It basically states that the grantee is "prohibited from conveying property to a purchaser for three months from the date of the deed.

Are they basically stating that we have to wait three moths after we close before we can retail the property to our buyer? Has anyone else seen this before.

Thanks.

Ivan