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Ray
Ray, Lawyer
Category: Real Estate Law
Satisfied Customers: 42184
Experience:  Texas Attorney for 30 years dealing in real estate
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I am scheduled to close on an investment property next week.

This answer was rated:

I am scheduled to close on an investment property next week. Typically I buy distressed properties, renovate them, and use them as rentals, but I'd prefer to "flip" this property.
My question: is it okay for me to go ahead and put the property on the MLS for the flip? Do I need to disclose that "am or will soon be the owner"?

RayAnswers :

Thanks for your question and good evening.You can do this but you need to indicate that it will be available soon.This lets folks know that it is in the process of closing.As long as you indicate this you should be fine to do so.

RayAnswers :

This is common that people do this when they are going to flip a property.As long as you are upfront with such a disclaimer or notation you would be fine.You obviously would wait until you are legal owner to sign a sales contract.

RayAnswers :

But is reasonable to list it here with such a disclaimer or notation.

RayAnswers :

I wish you good luck with the closing and selling it.

Customer:

Great, thank you!

RayAnswers :

You are welcome and thanks to you.

RayAnswers :

If you can leave a positive rating it is much appreciated.

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