Posted by Warner(ATL) on May 25, 2000 at 07:42:52:
I think the answer lies in the potential resentment of your seller when they look at the Hud statement and see that you are making a profit off of their home. I usually do not tell the seller I am flipping the property until closing (if then), or a situation arises where the the deal may be jeopardized. My rule is if 3k and under I “may” assign and tell the seller I am flipping. I’m not concerned with the approximate $300 extra closing costs incurred in a simo if I am still making a profit.