1KFLIPS CODE OF ETHICS

At 1000Flips we believe real estate investing can be conducted profitably AND ethically while providing real value and convenience to sellers. Below is the Code of Ethics that guides our company in every transaction we do – we share it here in hopes of promoting good business practices throughout our industry. 

Standard of Practice 1:
Investors must always make clear to Sellers, upon having substantive conversations about a potential transaction, that they are in the transaction to make a profit and their offer will likely be LOWER than market value. 

Standard of Practice 2:
Investors shall never represent to a Seller that they are providing real estate advice. In fact, the only advice they may provide is to recommend that the Seller seek third party professional advice, such as a Realtor or Real Estate Attorney, before agreeing to consummate a contract with the investor purchaser. 

Standard of Practice 3:
Investors shall make clear that their offer is not an appraisal or CMA. 

Standard of Practice 4:
Investors shall not complete contractual paperwork with any Seller who does not understand and agree to the above. 

Standard of Practice 5:
Investors shall provide the above disclosures in writing, in advance of consummating a contract, and must give the Seller sufficient time to review. 

Standard of Practice 6:
ALL contractual terms must be clearly explained to Seller, and understood by Seller, before completing a contract. 

Standard of Practice 7:
Earnest Money Deposits commensurate with local norms are to be used as a minimum amount. 

Standard of Practice 8:
Investors shall not complete contracts with Sellers where the investor does not have the capability of completing the closing. 

Standard of Practice 9:
Seller situations are personal and private and shall be treated with deference.