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hello and welcome to the flipping and wholesaling houses in new york show i am michael pinter where i teach you how to start flipping roles selling houses in new york or if youre already doing it how to grow your business now i had a question what happens after you signed a purchase agreement which in new york we call a contract so this is a lot happens after but first were going to talk about what happens outside of new york and then well talk about what happens inside new york so outside of new york when you sign a purchase agreement or a contract that they call it a p and a has a purchase and sale what happens is that you usually get as a buyer a time period for due diligence where you can check to see if you really want to close go through it in california they call that in escrow or open opening escrow and that gives you time to if youre trying to wholesale the property to find the buyer and if youre trying to buy the property to actually check i