Do I Need To Close To Flip A New House
I am thinking to purchase pre-construction homes that will be done 1-11/2 yrs. I plan to sell the house 1-2 months before the closing date to avoid closing fees. Can I do that? Thx.
I am thinking to purchase pre-construction homes that will be done 1-11/2 yrs. I plan to sell the house 1-2 months before the closing date to avoid closing fees. Can I do that? Thx.
depends if the contract is assignable or not.
This is based on PA experience, since I'm not familiar with AZ laws & customs.
To flip your right and interest in a purchase contract prior to your taking title to the property, the contract has to provide that you have the right to assign.
Whether the builder will agree, who knows? If he's eager to get units under contract (thus increasing the likelihood of getting favorable financing terms from his lender), he might. In my area, terms in builders' new construction contracts are practically non-negotiable.
Actually I am interested to do this in FL and AZ.