This may seem like a stupid question to most if not all of you but I don’t know who else to talk to about this. I talked to a friend and they seemed to think that it would look like a scam.
I sold a property to a family member who fixed it up to be her primary residence. Its been a over a year and I want to buy it back. At the time I sold it I wasn’t financially able to do any work on it. I am really emotionally attached to this home. I would even sell her my current residence so I can purchase this home. Would it be bad business for me to purchase this property back from her? What do you think? Does it sound like a scam. I don’t want to go to jail for making an offer on a property!
Thanks in advance for your input!
Why would this be illegal? It is not different in my eye’s from you asking to buy the house or asking to buy a car or a dog! If the seller would sell and the buyer want’s to buy there is a deal if she say’s no and you try to force the issue then there might be a problem other then that try to make a deal!
I don’t see a problem with it either. Is there something your not telling us that would qualify it as a scam?
I agree…as long as the transfers back and forth are not some sort of an attempt to artificially inflate the price so as to cause some sort of a mortgage fraud.
Thanks Keith and Reoconultant,
I appreciate your input. And Diane I’m telling the story like it is. Like I said in the first post, I asked the question because someone told me it would look like a scam. I only wanted to get as many outside opinions as I could before I made a move.