Detroit Real Estate

Every once in a while people come up with these great schemes to make money or to "help" somebody.  I had a person call me a while back about buying a Livonia short sale home.  Their relatives owned a house and had it listed as a short sale.  The sellers had approached this relative to buy the house for them.  This guy wanted to buy it cash in his name.  The relatives would still live in the house.

I hate to say it but that is FRAUD!  Most banks when doing a Livonia short sale make the buyer and seller sign a document saying they are not related.  The banks do not want to sell the house back to the home owner at a lower price.  That is the banks prerogative.

I appreciate you wanting to help out a relative, but I have a family.  I don't want to end up in jail to help your family.  I can't be part of the scheme to de-fraud the bank.  I'm sorry but I'm not your man.  These Livonia short sale schemes are happening quite a bit in the metro Detroit real estate market.

If you are a real estate agent and don't know that the buyer and seller are friends or relative you can't be held liable.  You aren't doing anything wrong.  But if you have a hint of it, or know it you are part of the fraud.  I had told the guy this on the phone, and he said can you just forget I told you.  I said no I couldn't.

Unfortunately it's not worth my real estate license, my career, or my freedom to sell a home fraudulently.  I don't need a roommate named bubba.  I like to look at the blue sky and hear the birds sing.

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