I am using a contract to purchase with a contract addendum attached which show that I will resell at closing to someone else for a profit. Aurora is ready to send the acceptance but wants the ‘flipping’ language removed. Can someone help me out with what you have done in the past to overcome this?
Thank you.
SSL
Good to meet you…
Depending how yours reads could make the lender request removal. However as long as you do not agree to “Not flipping” it then take it out and sell the darn thing…
The lender can not create a deed restriction which you do not agree to…
Good luck
Michael
Thank you Michael for responding.
I did remove a couple of sentences that had to do with reselling it for a profit and submitted it. I will watch the acceptance letter to make sure there aren’t any restriction on the reselling the property.
SSL