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Updated almost 15 years ago,
Short Sale Question
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.