Posted by bryan on July 13, 2004 at 01:19:44:
there is more liability created here than is obvious at face value. the seller of the property may come back later and claim that you, a sophisticated investor took advantage of her, a poor old widower lady. i recommend taking additional steps to reduce your liablity, such as a signed statement from seller of understanding, perhaps a letter explaining why she is selling for less than the property is worth.
Flipping property with a Texas Real Estate License - Posted by Art
Posted by Art on July 11, 2004 at 12:44:36:
How do I flip properties having a Texas real estate license, and what should I put in the contract to protect myself. Texas statutes require the revealing of having a license in all real estate transactions in which a licensee is involved?
Re: Flipping property with a Real Estate License - Posted by William Bronchick
Posted by William Bronchick on July 12, 2004 at 09:07:15:
Simply disclose that you are a licensed agent, or, if you are using a
corporate entity, that one of the principals is a licensee. If you are
buying from a person that came to you for a listing, I would
further disclose that you intend to resell the property for a profit.