Flipping Disclosures ( Must I???) - Posted by Fred

Posted by Greg NY on March 19, 2001 at 01:27:43:

Hi,

I’m not from CA but if the assignment is in the contract and the sellers sign it… YOU CAN DO WHAT EVER YOU WANT!

By them signing the contract they give you the RIGHT whether they like it or not.

Greg NY

Flipping Disclosures ( Must I???) - Posted by Fred

Posted by Fred on March 18, 2001 at 23:26:38:

Question to the Group and especially anyone familiar with California R.E. Law.

Must one disclose that he/she is going to be both the buyer in one transaction and the seller in another? My realtor told me I have to disclose to a seller that I might be flipping a property. Is this true? I have no problems in doing that, but what does the law say?

Re: Flipping Disclosures ( Must I???) - Posted by JPiper

Posted by JPiper on March 20, 2001 at 01:24:37:

Your Realtor might possibly have to make such a disclosure in accordance with possible fiduciary responsibilities. When I was a Broker I used to make these and other disclosures on a routine basis. If you’re not a Realtor though, this would not be necessary.

JPiper

Re: Flipping Disclosures ( Must I???) - Posted by Ed Garcia

Posted by Ed Garcia on March 19, 2001 at 10:17:08:

Fred,

The easiest, cleanest, way to do it is, when you’re doing your contract, do it under your name, or assignee. If the seller or realtor should question this, then tell them you always do your contract in that manner so that it will allow you to take on a partner, or assign it to your LLC.

Ed Garcia