It had to be secret because the Lender wanted the seller to come in with some money for them to sign off on the deal. If the seller was willing to come in with the money, it would not have been a secret. The seller was unwilling to pay and yet the deal still went through. The check into escrow had to come from the seller. Escrow did not know where the funds came from. I’m sure the eventual buyer paid this amount to make the deal happen. The bank would not budge and the seller did not want to put anything into the deal. The seller had alrady lost a couple hundred grand downpayment. The seller made all their payments, paid their taxes and HOA. Nothing was delinquent. It was the bank that played hard ball. This happens if you like it or not. I did not make the rules. This was one of the reasons we backed out of the deal. But it was not the main reason. The house just wasn’t the one for us.
We were in another deal where the seller was going to take all the appliances. So we low balled the offer and we agreed to purchase all the appliances for above new retail price. The BPO came in too high and we walked. The listing came back on line with the BPO price and sat. They had to lower the listing again before someone came in. Still not sold and it’s been 8 months.
This is why I suggest that you talk to the agent to get the advantage. If you call it cheating then it’s cheating. I make 35K a year working 40hrs a week and I’m not going to throw away my money because I want to play fair. The system is cheating us.
