Legal Question in Real Estate Law in Georgia
Buying a brand new house in an unfinished subdivision. I am paying cash and buying the house directly from the builder. The house is almost finished. The builder (seller) said he needs to keep the comp values up and not make current owners mad so he couldn't sell the house for the price I want to pay.
So, he said he can sell the house to me for only $167k, but the sales price needs to reflect that I paid $179k. So I will pay $167k cash and the builder will give me a credit (like a coupon) of $12k I am not using a realestate agent, home inspector or anything because these are new homes and. I'm not financing anything. Is there any reason why this is a bad idea?
2 Answers from Attorneys
Why would you even think of dealing with a builder that is committing fraud right in front of you and asking you to join in that fraud? Run and do not walk away from the deal. You are not dealing with a legitimate company. There are plenty of homes for sale. Stay away from that builder.
(The fact you are not using a home inspector also shows very poor judgment).
First, the idea that you don't need an inspector just because the house is new is a horrible idea. Don't you understand that one of the main functions of a home inspector is to inspect the workmanship of construction, whether it meets code, or whether it is just cheap materials and workmanship? If the builder wants to be dishonest and shady in his dealings, whether with you or relative to other homeowners, why do you think he would not cut corners in building the house? Why would you want to do business with him at all? Are both of you also going to execute a false HUD-1 statement? Are you going to execute a contract that you both know to be false?
Related Questions & Answers
Looking for something else?
10,200 active attorneys ready to answer your legal questions today.
Featured Attorneys
Earn additional revenue and grow your business.
