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LSDefine

Simple English definitions for legal terms

land flip

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A quick definition of land flip:

Term: LAND FLIP

Definition: A land flip is when someone buys a piece of property for a low price and then quickly sells it for a much higher price to trick a bank or future buyer into thinking the property is worth more than it really is. This is not an honest way to do business and can cause problems for everyone involved.

A more thorough explanation:

Definition: A land flip is a real estate transaction where a property is bought for a low price and then quickly sold for a much higher price to deceive a lender or future buyer into thinking the property is worth more than it actually is. This is often done by selling the property to a fake buyer or entity.

Example 1: John buys a piece of land for $50,000. He then creates a fake company and sells the land to the fake company for $200,000. John then uses the fake sale to convince a lender to give him a loan for $200,000. This is an example of a land flip.

Example 2: Sarah buys a house for $100,000. She then quickly sells the house to her friend for $300,000, even though the house is not worth that much. Sarah's friend uses the inflated price to get a larger loan from a bank. This is also an example of a land flip.

These examples illustrate how a land flip can be used to deceive lenders or future buyers into thinking a property is worth more than it actually is. This can lead to inflated prices and loans that are not based on the true value of the property.

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ALSO CONGRATS!
Congrats1!
21:15
Miami A, yall I'm so excited I could cry.
21:15
Feel like I can finally stop holding my breath!! Whew!!!
[] baddestbunny
22:16
every time I get accosted by a strange man who follows me around because my male coworkers were too busy talking to walk me back to my car I get closer to saying we need to bring back traditional gender roles
Dkk
22:32
Nice! @Macaque
Dkk
22:32
@Aromatic, Have to guess.
Dkk
22:33
That sucks @Bunny do you have to go to the hospital?
[] baddestbunny
22:40
I said accosted not assaulted
23:35
guys. my notre dame address just went long is this good or bad
1a2b3c4d26z
23:37
Oooooo me too
23:37
omg is this good or bad
Dkk
23:47
Idk if gender roles are gunna fix that then.
23:49
it looks like most people who applied in october last cycle didn't get a decision until january... does it even mean anything that our addresses went long??
hows ED 2 compared to ED 1?
Dkk
0:10
No idea
windyMagician
0:34
reporting live to say my ndls address also went long
does it mean anything ^
Dkk
2:21
NDLS and Fordham took a very long time last year. It's good info for people to know.
[] baddestbunny
4:29
let’s get after it boys and girls
Dkk
5:21
I gtg to bed soon.
Dkk
5:22
Big day today. Gunna be a crazy one. I will sleep through the first half.
good morning lsd it is 5 am EST
also jazzy my ndls address went long ages ago i sadly do not think it means anything
my stanford address also went long LOL i think at most it's an indicator it's under review
WorthlessAttractiveZombie
7:44
My berkeley paragraph finally disappeared. I definitely think it is just an indicator that they are actively reviewing files, and does not mean anything about A, WL, or Rs
WorthlessAttractiveZombie
7:46
Also has anyone's date disappeared for W&L? Mine did last night
7:55
@WorthlessAttractiveZombie: mine did yesterday morning
7:56
Oops sorry I meant Vilanova. Mine disappeared last week
soapy
8:48
UMN under review! As predicted, decisions are gonna come out early December
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