It is not clear what you mean by "upon approval". An assessor`s approval ? A lawyer`s approval ? an accountants approval that property tax won`t be added ?
Flipping: "Flipping" is the process by which an investor buys a piece of real estate and then quickly resells it at a higher price, either a few days or a few months later. It has gotten a bad name, though, for several reasons. In order to succeed, some investors have been known to commit fraud, often through the use of faulty appraisals that improperly push up the value of the property.