Are you thinking of investing in real estate or selling the home you recently purchased ? If so, you will be glad to know that the Federal Housing Administration is agreeing to a temporary extension on the waiver on flipping houses.
Previously, buyers were required to hold on to the property for more than 90 days before reselling. Now, you may buy a house, fix it up, then resell it without any time restrictions, per the policy originally that was put into place 2010 by President Obama in 2010.
An extension has been given every year since then and this extension will be for two years – which means it will be in effect until December 31, 2014. This waiver is subject to certain restrictions.
Learn How the Extension Affects Your Purchase and Neighborhood
Check out the actual waive/restrictions for the anti-flipping regulations, click here.