FHA / HUD 90 Day Flip Rule

In an effort to stimulate buying HUD is waiving the 90 day flipping rule for 1 year effective February 1, 2010. In the past, when a property was purchased by an investor and fixed up to flip and sell for profit, a buyer could not get an FHA loan within 90 days of the prior purchase. By HUD lifting this rule and allowing buyers to purchase these fixed up properties it may give FHA buyers a oportunity to purchase a property in move in condition easier. The hope is that this will help move properties along faster. We have seen investors purchase properties from banks, fix them up and sell them using the online auction method of marketing and flip them for current market value for profit. Its a win win for everyone because the buyer gets a property in move in condition and the seller sells the property in a timely manner for profit! Every property purchased and sold in this manner is unique and should be examined individually by an experienced Realtor and Auctioneer!