Some Believe Flipping is Illegal

[flip_it_fast]

Some people believe that house flipping is illegal. I have seen the questions asked many times on different websites. Is house flipping legal?

The answer to that question is YES. It is perfectly legal to flip a house for a profit.

What is not legal is when people scam and don't follow the laws and procedures having to do with buying a house and/or selling a house.

One scam that has given house flipping a bad rap is when a house's value is improperly inflated and a straw buyer allows the house to go into foreclosure not long after aquiring the loan. Usually that scam involves a lender, title company, appraiser and a seller. Since the housing market crashed, new rules have been put into place to help keep scammers from scamming.

If you follow the law, house flipping is legal and can be very profitable.