Retail Flip procedure - Posted by WDorsey-FL

Posted by Chris on January 21, 2003 at 16:28:55:

If you want to flip for a living title seasoning will be a problem. If you can’t figure out a way to play with the lenders don’t play at all. Because they have the cash that you want.

I’d hate to see you come back in a month with
a title seasoning problem.

The site I gave you specializes in selling homes quickly. Their partnership discussion board talks about retail flips and how to avoid title seasoning.

Have you consulted a local attorney on how to avoid title seasoning? That may be your best bet.


Retail Flip procedure - Posted by WDorsey-FL

Posted by WDorsey-FL on January 19, 2003 at 15:16:47:

I have 2 opportunities to do a retail flip. I’m able to tie up 2 properties for $10k less than I can sell them for in a hot area. I don’t know what my buyer’s lender’s requirements are at this point but I want to avoid the title seasoning problem just in case.

So, should I tie up the property with a contract then simply assign the contract to a retail buyer for my profit? Or should I get an option on the property and have the seller sign a deed with the Grantee field blank and all other appropriate paperwork; and have my title company hold everything until we are ready to close. Then when I close on the properties, the original seller will be the closing seller and my buyer will be the actual buyer; my profit would be paid to clear the cloud on title. I hope that makes sense. Just not sure the best way to do this.

Re: Retail Flip procedure - Posted by WDorsey-FL

Posted by WDorsey-FL on January 21, 2003 at 15:54:46:

I don’t really want to walk away from the deal simply because the lender won’t play. I checked the website and it there wasn’t anything on retail flips there.

Re: Retail Flip procedure - Posted by Chris

Posted by Chris on January 19, 2003 at 19:02:06:

Before you beat yourself to death find out if your lender will close with unseasoned title. If they do then you can setup a simultaneous closing. Problem with this is you might have to pay for two escrows.

If they don’t I recommend having your attorney draft a clause to allow a cancellation fee of your seller/you contract.

An excellent site that deals with retail flips is Spend sometime searching their agent/marketer discussion board.

There are several ways to get this done but procedures vary from state to state.

Best of luck.