Posted by Ed Copp (OH) on February 19, 2001 at 11:27:19:
who the seller is. Sounds to me like it is probably the real estate “lady”, and it also sounds like she will be keeping the prepaid rent.
It also sounds like “she” the real estate “lady” is in bed (so to speak, or not perhaps) with the mortgage broker, since there is a $3,000 kickback to get you into the deal. This “MAY” possibly, perhaps, maybe be legal; but it could very easily be a “cloudy area”.
If the seller (this may be the real estate “lady”), and the real estate “lady”, and also the mortgage broker all have a good payday; then who cares if you get a good deal or not.
I would investigate very carefully here.