The Real Deal Miami

Short sale flipping gets harder

June 15, 2009 02:18PM

Buyers hoping to quickly flip properties bought in short sales won’t have as many legal eagles to ease their paths to profit. Attorneys’ Title Insurance Fund notified its 6,000 member lawyers this week that it will not insure deals made through option transactions that would give the buyer a chance to purchase a property within a specified period of time. If the flipper can find a buyer, the purchase and resale happen simultaneously, and lenders aren’t told of the profit difference.