Flipping when agent is selling house... - Posted by Jason_AZ

Posted by Jason_AZ on November 09, 2000 at 16:14:08:

Thanks…I’m sending the mailings out to the homeowners themselves. I was going to go out “hunting” again tonight. I’m fortunate to work for a police dept here and have access to grid maps to organize my “hunting.” I will check on the law here in AZ. Thanks for the help.


Flipping when agent is selling house… - Posted by Jason_AZ

Posted by Jason_AZ on November 08, 2000 at 06:01:59:

Is it worth pursuing houses for sale by a real estate agent when right now, I’m only interested in flipping properties or “subject to” situations? I realize the agent will always get their percentage. In my area, I found 26 homes for sale thru a realtor in less than an hour. I was considering sending out mailings and trying to work some deals. Any ideas?

Thanks in advance.


Mail em out! - Posted by Alfie R

Posted by Alfie R on November 08, 2000 at 22:28:15:

Yeah, go ahead and send those letters to those realtors. If you found that many houses for sale in such a short period of time you are in a very “HOT” buyers market and just about anything you throw at them can an usually does get accepted. Lowball them good!

Keep us posted.

Alfie R

Re: Flipping when agent is selling house… - Posted by Donna

Posted by Donna on November 08, 2000 at 15:17:19:

Jason, The key here is to make darn sure your flip will work out. I don’t know about Arizona, but in Georgia, putting a house under contract with the intent to flip, and being unable to close if the flip does not work out is considered to be “transaction brokerage” and is potentially a violation of the law. I know that here the Georgia Real Estate Commission will probably bring suit against an investor who does this to a realtor. They sued an investor here, but he was found not liable on the basis of the fact the he was able to prove he could close the deal whether he flipped it or not. As long as the agent gets paid and you close as agreed you probably won’t have any problem.