Short Sale Question

[Michael V.]

Background:

One of the agents in my office just got a nice short sale listing. I plan to make an offer of 600k and market value is around 740k. I will get funding and the deal to close 31 days after I close the A-B transcaction since it is a BofA loan on the 1st and 2nd loan.

My question is do I need to have any special language in the contract to make it transparent that I will be flipping the property? Should I use the standard Realtor contract with an added addendum stating everything I need to state or option contract?

This will be my 1st time working a short sale flip.

I do have a direct lender that will work with me along with title and escrow.

Any help will be greatly appreciated.

[Bill Gulley]

Hi, if you are a licensee you might check your state law concerning disclosure, I bet it includes you acting through any entity that you have a beneficial interest in and especially a majority interest in. In the offer you would say that the owner or member of the buyer is a licensee, etc. Bill