Looking for the name of a term

[Katie Douglas]

Hello!

I'm new to the forums for this website, but I've been a lurker for a while. I've been researching ways to become involved in real estate investing, and I have forgotten the term for one of the strategies. What is the term used to describe when a real estate investor finds a property and enters into a contract with the seller with a possible purchase price, but the buyer has time to decide if they want to purchase the property? I think usually the buyer then flips the property to another buyer for more money, but keeps the difference?

Thank you!