simutaneous closing - Posted by Alphonso

Posted by Alphonso on March 20, 2001 at 05:40:50:

I just have a basic question, what i want to do is flip houses using seller financing and cashing out the seller at closing , and collecting a small profit off the spread. Is this a correct senario :
I put a house under contract for 70k
it is worth 100k
I find a buyer that is willing to pay 110k with seller financing(10k down payment)
then have a simutaneous closing
is that valid senario for flipping with seller financing ?
any response is appreciated