CASH BACK AT CLOSING!

Foreclosures, Short Sales, Tax Foreclosures
1

I want to give cash back at closing to the buyer to get the properties sold at full marlet. EXAMPLE: If there is $40,000 left in equity after eveything is paid, including paying the seller.Then myself and the buyer will split the remainder 60/40. I make $24,000 and the buyer gets paid after closing $16,000. What do you think!

This beats doing short sales! Short Sales are a drag and then, there is no guarantee that it will close. Short Sales will have you tied up for months.

Any thoughts on this?

2

If it’s an all-cash deal, no problem…if there is a lender involved, problem.

If the lender knows exactly what you’re doing, it is not a problem…if not it may be loan fraud.

Keith

3

Why would it be loan fraud? The lender is being paid off in full!
Can you please explain it to me becuase, I do not want to be commiting loan fraud!

4
  1. iam wondering is there any seller financie in this deal ?? AS this could make it a differant kind of deal as well
5

There is no seller financing!

6

If the deal is not financed by the seller then it is cash or lender financed, right. Cash deal no problem you do with the proceeds as necessary, if financed by a new lender then you better tell them where the proceeds are going. If you hide details in your new loan application that is mortgage fraud, a federal crime.