Looking for circumstances other than a property appraised for more than the sale price, (and obviously the buyer qualifing for that loan amount and the seller agreeing to those terms)
2007-02-01 08:31:02 · 4 answers · asked by BOBINC 1 in Business & Finance ➔ Renting & Real Estate
There are several techniques a buyer can use to come away from a closing with cash in his/her pockets. Most involve some form of seller financing, though the return of earnest money from a contract gone bad is another, more common method.
2007-02-07 11:47:27 · answer #1 · answered by richdadsinvestments 1 · 0⤊ 0⤋
at no point where a lender is involved. Cash back on purchases is limited to the borrowers earnest money. If you have negotiated cash back, it will have to be done outside of closing...which is a big no no
2007-02-06 03:25:44 · answer #2 · answered by Nyte M 2 · 0⤊ 0⤋
Your question makes no sense.
Try a mortgage message board where you can chat back and forth with an experienced loan professional.
2007-02-01 18:00:58 · answer #3 · answered by Anonymous · 1⤊ 0⤋
he brokered his own loan
The seller paid a set $$ amount towards closing cost and prepaids and it was not all used up in a 100% loan
Real Estate agent and represented themselves as buyers
Just to name a few
2007-02-01 16:41:12 · answer #4 · answered by golferwhoworks 7 · 0⤊ 1⤋