90 day no flip affidavit

[Duane Ortega]

Hi everyone, just wondering if anyone has seen this 90-day no flip affidavit and what they are doing about it.

Thanks for any and all feedback,
Duane.

"Property flips occur when ownership of one property changes several times in a brief period of time. Property flipping becomes
illegal and a fraud for profit scheme when a home is purchased and resold within a short time frame at an artificially inflated
value. For the purposes of this statement, a short time frame is defined as a period extending ninety (90) days from the date of
the short sale transaction.
BUYER represents, along with BUYER real estate agent, that I/WE are not involved in a for profit scheme to flip the property and
that there are no current agreements, written or otherwise, to immediately re-sell the Property at a higher price, and that no
transactions of this nature will take place within ninety (90) days of the date of closing on the short sale transaction.
I/WE represent that there are no relationships between any parties involved in the transaction, including BUYER, SELLER,
FINANCING COMPANY OR INSTITUTION, NEGOTIATOR, or REAL ESTATE AGENT.
I/WE understand that any information associated with the short sale, may be made available to federal, state, and/or local law
enforcement agencies for such action within their jurisdiction as they deem appropriate if illegality related to this short sale is
discovered."