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Las Vegas Area Sellers and Sales (Transaction) Categories: The "FLIPPER" (#5 in a series)
 
Las Vegas Area Seller or Transaction Category #5:  The "Flip"
This is part 5  in a series describing different types of sellers and transactions in the Las Vegas Area market.
The "Flipper" is a type of seller. 
To "Flip"  means that the property was recently purchased (at a discount) and is quickly being resold.  There are two main types of "flippers" in this market:
Those that buy directly from "trustee's sales" (foreclosure sales.)  I am going to call these "Real Flips"      Those that are trying to leverage nothing by negotiating short sale transaction - these are the most difficult to get through.  I am going to call these "Flip Flops"                                                                                                                       Real Flips are attractive to potential buyers because:
They are usually rehabbed beautifully and have the smell of fresh paint, carpet and neutral colors. They usually have a quicker answer or response than REO or Short Sale The pitfall of a Real Flip is:
They are usually FHA financing ineligible because of deed seasoning rules.           Some major home defects may be covered up during the cosmetic repair process All about the "Flip Flop":
A flip flop is when an "investor" comes in to negotiate a short sale.  They leverage NOTHING ... more

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