Can a private seller offer a buyer cash rebates?
Hi Guys,
I have a property that is listed for $360,000 and the buyer wants to pay $380,000 and have the additional,
"$20,000 placed into a non-revocable demand for payment to CBUSA company that may be secured by deed of trust, only to be paid and satisfied through escrow. Demand will be paid on amendment form approved by seller and will be non-revocable."
What is my legal exposure?
This is assuming that the property will appraise for at least $380,000 so I do not see this as bank fraud. Is this a correct assumption?
Thank you,
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