I am in contact with the sellers to potentially purchase a home that is expiring at the end of this month (Jan). No realtors would be involved, in which case we could both benefit on each end.

Per the sellers' agent as well as the seller, there is a 90-day window where no "transaction" or "close" can take place. I assumed this to mean that we could still negotiate a price, etc. But now am realizing that technically drawing up any contract is against the rules within that 90-days. Is this the case?? Does anyone know the rules in detail?

I suppose in this market, I would not want to even make an offer if no contract will exist for 3 months - the only person to lose is me essentially, if prices plummet between now and then...