Hi John,
We’ve heard that some sellers are willing to accept a higher price on their home and give a rebate to the buyer so that the buyer has a downpayment and can therefore buy the house. It sounds ideal! Is this something you can help us with?
- Steve
Steve,
That’s also called “mortgage fraud.” Don’t do it.
John Carle
ReMax Real Estate Edmonton
www.knock-knock.ca
John Carle is a Realtor with RE/MAX Real Estate in Edmonton, Alberta. John is the lead Realtor with the Knock-Knock.ca real estate team. Licensed since 1999, John Carle has a reputation in the real estate business as a man who gets the job done.
John,
Thanks for blogging aboout this issue, as soon as the real estate market slows down these types of scenarios start to creep up. I am asked about this all the time! Thanks for saying it like it is and discouraging this type of behavior. Many people don’t know that it’s fraud, they just think it sounds like a good idea!
Natalie Wellings, Mortgage Associate
Axiom- Mortgage Success