Did you know?  If you are using FHA loans, you better be sure the home you have been eyeballing has been in the current owner's possession for at least 90 days. With all these short sales, investors are snapping them up and selling them within 30 days. When you walk into a vacant, updated home, always ask, "IS THIS A FLIP??!!!!" The last thing you want is to find out is that you cannot get your loan.

 Here are some red flags to keep an eye for:

RED FLAG 1. The home is vacant and totally updated
RED FLAG 2. The seller is an LLC
RED FLAG 3. The name on the tax record and the person selling it are different. ASK!

Currently, you cannot even contract on the home within the 90 days of a new owner purchasing the home. The best you can do is on the 91st day, WRITE THE OFFER!
You can still do a loan application and know you are set but you cannot contract on the home.

I would love to talk with you about other options if you have to have that home!