relocation exception

relocation exception

An exception to the Housing and Urban Development (HUD) regulation denying FHA insurance to properties flipped in less than 90 days, and requiring additional documentation for properties purchased and then sold within 91 to 180 days after initial purchase.The exception is for properties purchased by an employer or relocation agency in connection with the transfer of an employee who needs to sell his or her home in order to relocate.

The Complete Real Estate Encyclopedia by Denise L. Evans, JD & O. William Evans, JD. Copyright © 2007 by The McGraw-Hill Companies, Inc.