Flipping Confusion??
1. if i sign a purchase contract with a seller/real estate agent combo with the intent to flip to an investor or a wannabe homeowner do i have to pay a commission to the agent or i pay a commision only if i sell to a wannabe homeowner???
2. do i have to qualify for the home or just put up earnest money and a contingency for the right to assign to an investor or a new homeowner??? 
thanks in advance
amy
(have read flipping properties by bronchick but still kind of confused help)
Hi, from what I understand YOU as a buyer would not pay a commission either way, the commission is paid by the seller. As for your second ? just the earnest $, But remember be prepared for any contigency. What if it takes longer to find buyer? If it is not making you $ it is costing you $. Have a plan.
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but once i sign the purchase contract with the itent to flip dont i become the seller to the investor or the homeowner?? there for must pay the commision to an agent if there is one.
[quote]
On 2003-08-22 19:37, amynewbie wrote:
but once i sign the purchase contract with the itent to flip dont i become the seller to the investor or the homeowner?? there for must pay the commision to an agent if there is one.
[/quote] No because the contract is with original owner and the agent. once it is yours you can sell to who you want and unless YOU have a contract with an agent to sell for you there is no commission.
got it
thanks
amy