Posted by Steve-DC on March 14, 2002 at 08:38:02:
A. No, you do not have to close on the property to flip it. You can assign the deal. You can take your chances with the bank and cross out the assignment clause, or you can use Steve Cook’s idea of making the offer with an LLC and selling the ownership of the LLC rather than actually assigning the contract.
As far as access goes, personally I would cross out any of that language and just tell them you’re going to need to get your partner, contractor, architect whatever, in there to see the place, so you can get started working right away after close.