My experience tells me that a minimum of 60 days from contract acceptance to closing/possession is a good standard. In today's housing market we are seeing a lot of home buyers applying for 203k loans with a sales contract for a foreclosed property. Most foreclosed property owners (Fannie Mae, Freddie Mac, FHA, local and national banks) will need at least two weeks to complete their side of the sales contract after a verbal agreement is accepted.
Inspections are usually not completed on the property until written acceptance is in hand, thus valuable time that would otherwise be used to develop the renovation package is loss while waiting on signed contracts. Some pre-renovation items can be worked on during this time such as identifying your FHA Consultant, reviewing references on contractors and developing your renovation items, however the actual due dilegence can not begin until you are fully under contract.
Many foreclosure companies also charge the buyer a daily per diem if the contract does not close on time. Starting out with a 203k sales contract with 30-45 days to close will only lead to headaches and heartaches during the loan process. I have closed streamlines in less than 30 days so I am not saying a short time line can not be completed however starting out with a realistic closing date will assist all parties in obtaining a 203k loan in a timely manner while securing the customer has a chance to fully review the ins and outs of their renovation project.
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