Home Buying in 15213>Question Details

Abhay, Home Buyer in Allison Park, PA

Short Sale Seller Wants Cash

Asked by Abhay, Allison Park, PA Tue Feb 28, 2012

the seller wants cash to be paid to him outside the HUD stetment, and over and above what is approved by his lender. Is it legal and should it be reported. Whom should it be reported to

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If it's legal, it's put on the HUD statement. The fact that he wants it outside the HUD is your first clue that it is illegal. DO NOT do this. You should report it at least to the bank that holds the mortgage. I'd also report it to anyone that would listen - state police, FDIC, FBI, etc.
0 votes Thank Flag Link Tue Feb 28, 2012
Call the local FBI and get an investigator assigned. There is no excuss for this kind of action.
0 votes Thank Flag Link Tue Feb 28, 2012
Short answer is that this is probably a good example of Short Sale fraud. Red flags on this...beware!
0 votes Thank Flag Link Tue Feb 28, 2012
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