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are there any laws prohibiting the buying of foreclosures houses then selling them for a profit?

6 Responses to “are there any laws prohibiting the buying of foreclosures houses then selling them for a profit?”

  • Sean:

    nope. its called turnaround… i think. ppl do it all the time and can actually make a living off it. they usually buy a rundown house and fix it cheap and sell high.

  • Capital Monger:

    The simple answer is no such laws, however, there are laws dealing with FHA and VA financed properties…and sometimes there are contract provisions that can snap back at you. Make sure that if you are buying houses in foreclosure that you are buying them free and clear of any restrictions

  • My Take on It:

    No
    It’s just that *flipping* houses in 2010 isn’t a profitable business like it was in 2005.

  • Mary John:

    Depends on where you reside-talk to a realtor

  • Walama:

    It’s not illegal but it’s also not possible anymore.

  • joe schmoe:

    Certain auction companies have rules set up into their contracts that you can not make more than a 5 percent gain on the property within 90 days also.

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