Replies to post #585409 on Zeev's Turnips Patch-No Politics (ZEEV)

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>> How does the buyer "take" the remaining 700k?

The "buyer" takes the money (1.5mil) from the bank through "borrowing";gives 100k to the appraiser, 700k to the seller . . . with 700k remaining (i.e. a $700k "cash-back," how's that? ). . . any wonder why the borrower misses the first payment? There was never any intention to repay.

"Cash-back" is the very definition of fraud in house transactions.