Wednesday, February 10, 2016

The obscure, legal loophole that lies at the heart of 'shadow flipping'

VANCOUVER - British Columbia’s housing industry has been jolted by allegations that real estate agent are taking part in so-called shadow flipping. The controversial practice involves brokers reselling a property multiple times before a deal closes and profiting from each transfer using the assignment clause in sales contracts. Here’s a look at the practice:

from http://www.vancouversun.com/business/obscure+legal+loophole+that+lies+heart+shadow+flipping/11710980/story.html

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