0
Is it legal for a straw buyer to buy a house for another person who is not qualified?
Wiki User
∙ 16y ago
It is absolutely illegal. All you need to verify this is an internet search using the string "real estate straw buyer", then start reading.
Wiki User
∙ 16y ago
Add your answer:
Earn +20 pts
What does Contingent with No Kick Out mean in Real Estate Terms?
Contingent with no kick out means the contingency is in favor of the buyer. Even if another buyer shows up the seller will have to wait for the contingency to run its course until the seller could sell the house to the second buyer. Usually it runs for a specific time to allow the buyer to get his relocation package or confirmation of job transfer into place. This is usually only used if the seller is very sure of the buyer qualifying to purchase.
What is a Cooperating Real Estate Firm?
A "cooperating" real estate firm is simply a competing real estate company that works with -- cooperates with -- another company. For example, Sunnyside Real Estate has a house for sale, and True Blue Agency is working with a buyer who is looking for a house to buy. The buyer is interested in the house at Sunnyside. An agent at True Blue shows the house to the buyer and the buyer makes an offer to buy. Sunnyside presents the offer to the seller. Sunnyside and True Blue are "cooperating" with each other to the benefit of their customer/client. Note that cooperation does not automatically include compensation. The firms should first come to a mutually agreeable compensation arrangement prior to showing.
What happens if you decide not to pay earnest money when buying a home and signed contract?
Odds are the seller won't put any effort in keeping another buyer from getting the house from under you.
Can I sell my home if it is willed to another person?
If the person whom the house has been willed to has no problem with you selling it, I don't see why not.
What is RWA buyer?
In fact, an aggressive buyer who writes an offer at full asking price will get beat out by another buyer that offers LESS money for the house, because the second buyer is an RWA Buyer!What is an RWA Buyer?Ready to buy!Knowledge is an important part of purchasing a home. You need a professional to guide you through, to sidestep the pitfalls.Willing to commit!You must be willing to commit to the purchase not "Just Looking"Able to purchase!It is imperative you have your financing solidly in place. Over 90% of all failed escrows are due to failed loans. That is why cash investors get such great deals - there are no loans to fail! As normal buyer, you need to get a solid loan commitment from a lender who can and will fund that loan.
Who is the custmer?
A Customer is: 1. a person who purchases goods or services from another; buyer; or patron. Reference: Random House Webster's College Dictionary.
How can one view houses for sale advertised by the owner of the house?
A person can view houses for sale advertised by the owner of the house in several ways. One way is through a buyer's real estate agent who would contact the owner or another way is for a buyer to contact the owner at the number provided in the advertisement.
What is a first time buyer?
A first time buyer is normally refering to a person who is to buy a house for the first time rather than live by rent or lease
How can a lawyer help you keep your house after sold at auction?
If your house is sold at auction, it is now the property of the buyer. You become like any other person who might want the house. A lawyer might be able to negotiate terms with the buyer, but it is more likely that your house is gone.
I really want to sell my home. Can I sell my home to the government for section 8 use?
Section 8 is not a program for homes owned by the government. It provides for rent or mortgage assistance for qualified applicants, and the waiting list is usually long for any given locality. Check for a local housing assistance program, which may be able to buy or find a qualified buyer for your house. If you can afford not to get the full amount for the house up front, you could hold a mortgage and accept monthly payments, perhaps with a Section 8 qualified person getting help to pay the mortgage.
Can santa bring another person to another house for Christmas?
yes
Before the closing of a house can the builder deny the buyer to the house if he is willing to pay back the entire cost?
Only if Buyer and Seller (Builder) agree.
Marginal cost when buying a house?
marginal cost influences the buyer of the house. If the marginal benefit surpasses or even equal with the marginal cost, the buyer normally decides to buy the house.
Who is qualified to construct a house?
a builder
What does it mean when a foreclosure sale date has been set?
That is the date the home will be offered for sale at auction, usually on the steps of the county court house. The auctions are public and bids are accepted by any qualified buyer, including the prior homeowner.
Who pays supplement property tax?
The buyer does because it is supplementation of difference of the taxes charged from the old price of the house to the new price of the house which was paid by the buyer.
Person paying for accommodation in another house?
Lodger :3
