Is it a trap? awfully urgent?
I am the first time home buyer.. and I dont have any agents. We hold finalised a deal on one of the property ( the retailer himself is a realtor). the way we agreed upon be we made offer of price X + 8000. and the merchant told me is that he will give me $8000 fund as soon as I give a waiver. and we also made a dissertation for that.
Now when I went to advocate with this info, the advocate said its illegeal...so I went put money on to the seller /agent and he told me to to make clear to the lawyer that I agree to salary this guy X + 8000 as I like the property and once everything is approved he will present me $8000 in currency.
I have no notion what I should do.. can someone please advise asap as I enjoy to provide waiver by this Friday. The seller is not denying to payment me that extra amount but the reason he want to do it resembling this is because he said he has couple of list coming up in matching street and that would affect the price of those houses as well.
Thanks for your time
Answers: yeah i.e. illegal. The mortgage company will not approve the loan minus a certain amount down and you are unacceptable to borrow the down. He is making it look like you are giving him more down than you are. It call rebating because he is offering you a rebate of what you paid surrounded by order to take you to buy.
If he will do business this fraudulent way, how could you trust him? I would verbs. I am sure you will find another house you like lately as much. Oh BTW, I don't know what the waiver would be but it is probably something that will keep him from getting within trouble. Believe me, he knows exactly what he is doing.
This sounds really sketchy to me.
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Now when I went to advocate with this info, the advocate said its illegeal...so I went put money on to the seller /agent and he told me to to make clear to the lawyer that I agree to salary this guy X + 8000 as I like the property and once everything is approved he will present me $8000 in currency.
I have no notion what I should do.. can someone please advise asap as I enjoy to provide waiver by this Friday. The seller is not denying to payment me that extra amount but the reason he want to do it resembling this is because he said he has couple of list coming up in matching street and that would affect the price of those houses as well.
Thanks for your time
Answers: yeah i.e. illegal. The mortgage company will not approve the loan minus a certain amount down and you are unacceptable to borrow the down. He is making it look like you are giving him more down than you are. It call rebating because he is offering you a rebate of what you paid surrounded by order to take you to buy.
If he will do business this fraudulent way, how could you trust him? I would verbs. I am sure you will find another house you like lately as much. Oh BTW, I don't know what the waiver would be but it is probably something that will keep him from getting within trouble. Believe me, he knows exactly what he is doing.
This sounds really sketchy to me.