Seller Cash Back – Ask John

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

Meet John Carle  (476 Posts)

Licensed since 1999, John Carle has a reputation as an innovator and forward thinker in the Edmonton real estate community. As one of the area's top real estate professionals, John brings the skills, experience, and knowledge to make your real estate experience a successful one.


 
  • http://www.youredmontonmortgage.com Natalie Wellings

    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

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