Has anyone ever fix and flipped a house, but paid the seller after all rehab is done at resell? In other words take possession of the house and rehab it, then sell the house. Pay off the seller once house closes.  Seller no rush for money, owns property outright.
Example:
ARV is 240k
Seller wants 160k
Rehab is 40k
Seller closing costs 4800
Realtor fees 14.4k
Net profit: 20,800
Time frame from acquisition to close (resale) 3-4 months

Does this make sense and could it work? Am I missing something?