I’m trying to understand flipping contracts

[Moises Tejada]

I’ve been reading a lot about flipping contracts and I understand the concept, but I’m still confused about a few things.

1. Does the seller need to know of the true buyer of the house and if so how do they not find out about me bumping up the price? Ex. I propose buying the house for 20,000 and then find someone else to buy it for 28,000.

2. Does that mean there’s more than one contract?