If you're trying to buy a short sale property, there may actually be a "middleman" investor who is trying to buy the property for well below market to "flip" it the same day at a "retail" price. We see this scenario in Tampa Bay so I would bet the same unscrupulous activities with short sales are going on in DC.

Ask your Realtor to ask the listing agent if there is an investor with an "option" or if the current seller is going to be the seller at closing. FHA will not allow a same day flip, you can enter into a contract until 91 days after the current owner takes ownership.

Good luck and hope this helps you.

Alma
Alma Rose Kee, P.A.
Charles Rutenberg Realty, Inc. http://www.SoldOnTampa.com
813.244.9898

Saab, your answer is totally wrong.

The correct answer is that it is calculated from the date the current owners title to the property was RECORDED. It goes from that date to the date of the new contract, so you cannot write up a purchase contract until the 91st day after the current sellers title recorded.

You can take out a conventional loan right now however with no seasoning required, 5% down minimum.

U need to have 3 payments received by the lender.
U may want to try getting under contract now and close after the third payment is received by the lender.
For a better answer, check with a good loan officer.