Strange Question From Buyer
I have been having very bad luck selling a house the last 5 months. My agent called me today and told me that she has someone wanting to make an offer but that the offer was strange. She said that the buyers were working with a mortgage broker but that they had some credit issues and need to have 20% equity when they purchase. The broker told her that they would over appraise the house by 10%. I said ok no big deal, thats done all the time. Then she said to get the other 10% equity that they would form a fake or bogus note and mortgage to me the seller for 10% and that they would then rip up the note at closing. I have never heard of that. The broker is from out of the state so I am apprehensive but I would love to sell this house. Has anyone heard of this? Can I get in trouble?
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