 Articles tagged: Acquisition Price
<< previous page 1 next page>> written by Dale Rogers
In earlier years, “Flipping” was a negative term utilized by governmental agencies to designate a mortgage fraud situation where there was massive collusion between, straw buyers, appraisers on the take, title companies and other players all committed to defrauding a lender and making ill gotten gains. In time these little bit players went to jail. Over the years this term is still used in some legal circles to denote a fraudulent practice. Now, like many words in the American culture, the word has morphed now and is utilized in the vernacular to denote a legitimate effort to buy low, fix and remodel and sell for a profit without any of the negatives from the prior usage. Many who perform the legitimate practices of the term gain some sensitivity when dealing with lenders and term the process as Buy-Fix and Sell to get away from the formal negatives connotations of the term and in some way harm their loan process. In any case, good or bad, it is now referred in the trade as “Flipping”. Again, “flipping” is a simple tool, it should not be a real estate investors only means of acquiring wealth, just one of the ways. In all cases, after offer acceptance, a thorough home inspection must be completed up and down complete with termite inspection all with in the allowable inspection period to either accept the deal OR renegotiate the price based on what was found. This is one of the methods to hedge an investor’s bet. << previous page 1 next page>> |
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