Please note that the content of this book primarily consists of articles available from Wikipedia or other free sources online. Pages: 21. Chapters: Flipping, Tax lien sale, Land lot, Land grant, Real estate owned, Subdivision, Closing costs, Listing contract, Title search, Stigmatized property, Fair market value, For sale by owner, Hard money lender, Quitclaim deed, Chain of title, Tax deed sale, Lease purchase contract, Home staging, Gross leasable area, Jeonse, Straw owner. Excerpt: Flipping is a term used primarily in the United States to describe purchasing a revenue-generating asset and quickly reselling (or "flipping") it for profit. Though flipping can apply to any asset, the term is most often applied to real estate and initial public offerings. The term "flipping" is frequently used both as a descriptive term for schemes involving market manipulation and other illegal conduct and as a derogatory term for legal real estate investing strategies that are perceived by some to be unethical or socially destructive. The latter usage is typically contested by those who believe the strategies in question are ethical and socially beneficial or neutral. In the United Kingdom the term is used to describe a technique whereby Members of Parliament were found to be switching their second home between several houses, which had the effect of allowing them to maximize their taxpayer funded allowances. Profits are gained by obtaining a contract to purchase from the seller and then selling the house for more than the purchase price to another party prior to closing. The contract is assigned and the flipper keeps the difference in price. The contract usually includes the right to access the property and an "Escape Clause" allowing cancellation. In many cases, if a second buyer is not found prior to the closing date, the flipper cancels the contract relying on the contract language to allow return of their escrow. Because this practice requires little or no money to be secu...