Things a Real Estate Attorney Doesn’t Want to Hear (Satire):
Creative Fraud “My Loan Officer said I’m not allowed to get money back at closing, but they can write the check to you, you can put it in your escrow account, and then you can write the check to me.” “My parents are giving me the Down Payment as a gift, but after the closing I’m going to pay them back. That still counts as a gift, right?” “If I sign the Owner-Occupancy Affidavit at closing, how long do I actually have to live there?” “The Seller agreed to give me $15,000.00 after closing for repairs, but my Loan Officer said not to mention that in the Contract.” “My Mortgage Broker said that if the appraised value comes in low, we can just change the Contract price for the Bank and keep our real deal on the side.” “I know the funds need to be sourced, but if I deposit the cash in increments under $10,000.00, that should make things easier, right?” “In order to keep the price under a million, I’ll pay the Seller $100,000.00 for furniture so I can avoid the Mansion Tax.” “I am no longer ...