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SD Realtor
ParticipantNYer I assume you saw 4628 terraza mar marvelosa went for 1.010M…frustrating indeed.
bob007 I am not sure why. It could have to do with the ratio of cash to financing, quality of the buyer, etc… I know it can be frustrating. Also with regards to the banks you gotta be on it man…or shall I say your agent just needs to be really active pestering the listing agent to see how many offers there are and how strong yours is. The problem is that the listing agent may bs your agent. It is a poker game.
Hang in there man. It is not like you will be squeezed out forever. There is simply to much inventory right now.
ParticipantNYer I assume you saw 4628 terraza mar marvelosa went for 1.010M…frustrating indeed.
bob007 I am not sure why. It could have to do with the ratio of cash to financing, quality of the buyer, etc… I know it can be frustrating. Also with regards to the banks you gotta be on it man…or shall I say your agent just needs to be really active pestering the listing agent to see how many offers there are and how strong yours is. The problem is that the listing agent may bs your agent. It is a poker game.
Hang in there man. It is not like you will be squeezed out forever. There is simply to much inventory right now.
ParticipantNYer I assume you saw 4628 terraza mar marvelosa went for 1.010M…frustrating indeed.
bob007 I am not sure why. It could have to do with the ratio of cash to financing, quality of the buyer, etc… I know it can be frustrating. Also with regards to the banks you gotta be on it man…or shall I say your agent just needs to be really active pestering the listing agent to see how many offers there are and how strong yours is. The problem is that the listing agent may bs your agent. It is a poker game.
Hang in there man. It is not like you will be squeezed out forever. There is simply to much inventory right now.
January 13, 2008 at 11:16 PM in reply to: Carmel Valley Pardee DH,Saratoga,CarriageRun Holding Value #135360Participantsdhome I understand. I looked up the deal. It was a cash deal for 925k. Then your friend went and opened up a home equity line for 180k right after the purchase of the home.
Doesn’t that seem peculiar?
Anyways I will tell you what, I will dig a little deeper and see the details.
Understand that this is a cash deal… NO LENDER was involved.
*************
So if it is a cash deal why would someone pay more in cash just to get that same cash back?
*************
SD RealtorJanuary 13, 2008 at 11:16 PM in reply to: Carmel Valley Pardee DH,Saratoga,CarriageRun Holding Value #135556Participantsdhome I understand. I looked up the deal. It was a cash deal for 925k. Then your friend went and opened up a home equity line for 180k right after the purchase of the home.
Doesn’t that seem peculiar?
Anyways I will tell you what, I will dig a little deeper and see the details.
Understand that this is a cash deal… NO LENDER was involved.
*************
So if it is a cash deal why would someone pay more in cash just to get that same cash back?
*************
SD RealtorJanuary 13, 2008 at 11:16 PM in reply to: Carmel Valley Pardee DH,Saratoga,CarriageRun Holding Value #135562Participantsdhome I understand. I looked up the deal. It was a cash deal for 925k. Then your friend went and opened up a home equity line for 180k right after the purchase of the home.
Doesn’t that seem peculiar?
Anyways I will tell you what, I will dig a little deeper and see the details.
Understand that this is a cash deal… NO LENDER was involved.
*************
So if it is a cash deal why would someone pay more in cash just to get that same cash back?
*************
SD RealtorJanuary 13, 2008 at 11:16 PM in reply to: Carmel Valley Pardee DH,Saratoga,CarriageRun Holding Value #135618Participantsdhome I understand. I looked up the deal. It was a cash deal for 925k. Then your friend went and opened up a home equity line for 180k right after the purchase of the home.
Doesn’t that seem peculiar?
Anyways I will tell you what, I will dig a little deeper and see the details.
Understand that this is a cash deal… NO LENDER was involved.
*************
So if it is a cash deal why would someone pay more in cash just to get that same cash back?
*************
SD RealtorJanuary 13, 2008 at 11:16 PM in reply to: Carmel Valley Pardee DH,Saratoga,CarriageRun Holding Value #135659Participantsdhome I understand. I looked up the deal. It was a cash deal for 925k. Then your friend went and opened up a home equity line for 180k right after the purchase of the home.
Doesn’t that seem peculiar?
Anyways I will tell you what, I will dig a little deeper and see the details.
Understand that this is a cash deal… NO LENDER was involved.
*************
So if it is a cash deal why would someone pay more in cash just to get that same cash back?
*************
SD RealtorJanuary 13, 2008 at 11:08 PM in reply to: Carmel Valley Pardee DH,Saratoga,CarriageRun Holding Value #135355ParticipantGuys if it is in the HUD then the lender will be aware of it. Something happening IN escrow will be on the HUD report. Plenty of monkey business happens outside of escrow, off books so to speak. The lender would not know about it. Marion how your friend did it is something they know. Again, if your friend got his money from private investors or some flunky lender then maybe that is how he worked it out. Again, if he did a backdoor deal then no it is not legal nor is there some loophole. sdhome, again, I don’t know what to tell you other then ask your friend to show you a copy of his closing statement.
sdhome, your original post questioned the validity of the recorded sales price on the tax roll verses what essentially would be the sales price on the HUD report. I question this.
Perhaps something like this happened. I had a client who bought at Winward recently. The price of the condo was like 520k but they had this big promotion of like 70-80k off one weekend. These clients ended up paying 465k. Now the home was advertised for 520k all summer. Yet this one weekend it was 465k. They also got another 20k of upgrades plus another 10k in closing costs incentives. Yet on the tax roll it says 465k. Which is exactly what is on the HUD.
So I seriously doubt that the tax roll represents a price that is not accurate, especially from the builder.
Marion yes absolutely please do get the details. Ask your friend to show you his previous closing statements. If as you claim there is some legal loophole that this can be done then the closing statement WILL show the supposed 50k going back to your friend.
It should be very easy to see.
SD Realtor
January 13, 2008 at 11:08 PM in reply to: Carmel Valley Pardee DH,Saratoga,CarriageRun Holding Value #135551ParticipantGuys if it is in the HUD then the lender will be aware of it. Something happening IN escrow will be on the HUD report. Plenty of monkey business happens outside of escrow, off books so to speak. The lender would not know about it. Marion how your friend did it is something they know. Again, if your friend got his money from private investors or some flunky lender then maybe that is how he worked it out. Again, if he did a backdoor deal then no it is not legal nor is there some loophole. sdhome, again, I don’t know what to tell you other then ask your friend to show you a copy of his closing statement.
sdhome, your original post questioned the validity of the recorded sales price on the tax roll verses what essentially would be the sales price on the HUD report. I question this.
Perhaps something like this happened. I had a client who bought at Winward recently. The price of the condo was like 520k but they had this big promotion of like 70-80k off one weekend. These clients ended up paying 465k. Now the home was advertised for 520k all summer. Yet this one weekend it was 465k. They also got another 20k of upgrades plus another 10k in closing costs incentives. Yet on the tax roll it says 465k. Which is exactly what is on the HUD.
So I seriously doubt that the tax roll represents a price that is not accurate, especially from the builder.
Marion yes absolutely please do get the details. Ask your friend to show you his previous closing statements. If as you claim there is some legal loophole that this can be done then the closing statement WILL show the supposed 50k going back to your friend.
It should be very easy to see.
SD Realtor
January 13, 2008 at 11:08 PM in reply to: Carmel Valley Pardee DH,Saratoga,CarriageRun Holding Value #135557ParticipantGuys if it is in the HUD then the lender will be aware of it. Something happening IN escrow will be on the HUD report. Plenty of monkey business happens outside of escrow, off books so to speak. The lender would not know about it. Marion how your friend did it is something they know. Again, if your friend got his money from private investors or some flunky lender then maybe that is how he worked it out. Again, if he did a backdoor deal then no it is not legal nor is there some loophole. sdhome, again, I don’t know what to tell you other then ask your friend to show you a copy of his closing statement.
sdhome, your original post questioned the validity of the recorded sales price on the tax roll verses what essentially would be the sales price on the HUD report. I question this.
Perhaps something like this happened. I had a client who bought at Winward recently. The price of the condo was like 520k but they had this big promotion of like 70-80k off one weekend. These clients ended up paying 465k. Now the home was advertised for 520k all summer. Yet this one weekend it was 465k. They also got another 20k of upgrades plus another 10k in closing costs incentives. Yet on the tax roll it says 465k. Which is exactly what is on the HUD.
So I seriously doubt that the tax roll represents a price that is not accurate, especially from the builder.
Marion yes absolutely please do get the details. Ask your friend to show you his previous closing statements. If as you claim there is some legal loophole that this can be done then the closing statement WILL show the supposed 50k going back to your friend.
It should be very easy to see.
SD Realtor
January 13, 2008 at 11:08 PM in reply to: Carmel Valley Pardee DH,Saratoga,CarriageRun Holding Value #135613ParticipantGuys if it is in the HUD then the lender will be aware of it. Something happening IN escrow will be on the HUD report. Plenty of monkey business happens outside of escrow, off books so to speak. The lender would not know about it. Marion how your friend did it is something they know. Again, if your friend got his money from private investors or some flunky lender then maybe that is how he worked it out. Again, if he did a backdoor deal then no it is not legal nor is there some loophole. sdhome, again, I don’t know what to tell you other then ask your friend to show you a copy of his closing statement.
sdhome, your original post questioned the validity of the recorded sales price on the tax roll verses what essentially would be the sales price on the HUD report. I question this.
Perhaps something like this happened. I had a client who bought at Winward recently. The price of the condo was like 520k but they had this big promotion of like 70-80k off one weekend. These clients ended up paying 465k. Now the home was advertised for 520k all summer. Yet this one weekend it was 465k. They also got another 20k of upgrades plus another 10k in closing costs incentives. Yet on the tax roll it says 465k. Which is exactly what is on the HUD.
So I seriously doubt that the tax roll represents a price that is not accurate, especially from the builder.
Marion yes absolutely please do get the details. Ask your friend to show you his previous closing statements. If as you claim there is some legal loophole that this can be done then the closing statement WILL show the supposed 50k going back to your friend.
It should be very easy to see.
SD Realtor
January 13, 2008 at 11:08 PM in reply to: Carmel Valley Pardee DH,Saratoga,CarriageRun Holding Value #135654ParticipantGuys if it is in the HUD then the lender will be aware of it. Something happening IN escrow will be on the HUD report. Plenty of monkey business happens outside of escrow, off books so to speak. The lender would not know about it. Marion how your friend did it is something they know. Again, if your friend got his money from private investors or some flunky lender then maybe that is how he worked it out. Again, if he did a backdoor deal then no it is not legal nor is there some loophole. sdhome, again, I don’t know what to tell you other then ask your friend to show you a copy of his closing statement.
sdhome, your original post questioned the validity of the recorded sales price on the tax roll verses what essentially would be the sales price on the HUD report. I question this.
Perhaps something like this happened. I had a client who bought at Winward recently. The price of the condo was like 520k but they had this big promotion of like 70-80k off one weekend. These clients ended up paying 465k. Now the home was advertised for 520k all summer. Yet this one weekend it was 465k. They also got another 20k of upgrades plus another 10k in closing costs incentives. Yet on the tax roll it says 465k. Which is exactly what is on the HUD.
So I seriously doubt that the tax roll represents a price that is not accurate, especially from the builder.
Marion yes absolutely please do get the details. Ask your friend to show you his previous closing statements. If as you claim there is some legal loophole that this can be done then the closing statement WILL show the supposed 50k going back to your friend.
It should be very easy to see.
SD Realtor
January 13, 2008 at 9:57 PM in reply to: Carmel Valley Pardee DH,Saratoga,CarriageRun Holding Value #135309ParticipantSorry sdhome but I just don’t believe it. In fact if you give me the address of the home I will look it up on the MLS and then go to the sales office to see if they actually wrote a check of 70k to your friend.
Marion – Perhaps your friend gets his financing from investors or other uncoventional sources. Perhaps he gets the cash back through some deal with the sellers. However if we are talking about common lenders again, I don’t see it. If it is a friend of yours then get the details and post them here. Vagaries such as I don’t exactly know how he did it do not wash with me because that implies he either did not do it or he did it illegaly.
It is fraud. Plain and simple.
Everyone always seems to have a friend or a neighbor or know somebody. When it comes down to it though it is fraud. Maybe these people pulled it off somehow. Builders don’t write out 70k checks to people. They give buku incentives in services or upgrades and such.
I will believe it when someone posts here and says THEY DID IT.
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