What is the difference between "flipping" and assignment contract and dry closings?
Because of past years appraisal frauds in flipping deals many states now require that properties be held for a specific period of time before the property can be sold. I'm not certain but I think that is the case in my state, Maryland.
How are assignment deals and back to back closing any different from flipping? In both of these situations the property is transferring immediately from one owner to the next. How are these methods getting around the "seasoning" requirements legally?
Are we able to jump that seasoning hurdle because we are using a cash end buyer or a transactional funding source like coastal funding and since the traditional lenders are not involved there is no concern about the lenders being stuck with the property?
Always striving to move forward toward better times!