Legal Question in Real Estate Law in Florida

Re: Investor making real estate offer on home

NOTE: This communication is not intended as and should not be interpreted as legal advice. Rather, it is intended solely as a general discussion of legal principles. You should not rely on or take action based on this communication without first presenting ALL relevant details to a competent attorney in your jurisdiction and then receiving the attorney's individualized advice for you. By reading the "Response" to your question or comment, you agree that the opinion expressed is not intended to, nor does it, create any attorney-client relationship, nor does it constitute legal advice to any person reviewing such information, nor will it be considered an attorney-client privileged communication. If you do not agree, then stop right here, and do not read any further.

I am sure that there are many details that you did not mention in your question. Generally, in this kind of deal, the investor wants you to fraudulently state the true selling price which is a violation of many laws. If a mortgage is involved, the implications are far more serious as there are federal laws being broken as well as state laws.

I always tell my clients that all details of a transaction must be honest and completely stated on the Contract. Remember, if the investor is willing to defraud a bank, he/she is usually willing to cheat you too. Run, don't walk away from this deal.

Scott R. Jay, Esq.