I'm a realtor, but also work in a large development firm in NJ and PA. We have a number of communitites in PA. What I've seen done a number of times is what I call "dummy listings". For example, a national builder is now building in one of our developments. They created 4 listings for 4 different floorplans, 1 MacDonald Drive, 2 MacDonald Drive, etc even though these addresses don't and actually never will exist. In the end when the job is closed out, they expire the listing.
I have doubts that this is true, but if you believe it is, then you should contact the State Attorney General's office and the State Banking commission and report your suspicions. You may want to speak to an attorney however before you do this as if your accusations are false, there may be ramification for you.... more
Very common and good strategy. Some sellers will look at a "full price" offer and not pay enough attention to the "seller pays buyer's closing costs" line. In the end, the seller isn't getting full price, but they think they are, or at least feel like they are. It's also good for neighborhood prices and values, as it will be reported as a higher sale price, rather than taking the closing cost expense off the purchase price....... more
Typically surveys are not required for lenders in our market. If the seller has a survey available it would be listed in the sellers disclosure that is available. Your buyers agent can make the purchase contingent on the buyer receiving a copy of the survey if seller states one is available. If buyer feels one is necessary they can also request the seller provide one. They would have to have this contingency written in the contract as well before signed by buyer and seller.... more