So....I have a lender guru friend that has a package deal for larger home purchases. As prices continue to raise, it only benefits to educate yourself on some or all of the options. Most
New Home Buyer Scam
New home buyers beware!!!
I recently purchased a home in Maricopa County. As per my escrow officer we recorded successfully. After one week of closing I received this letter (Letter attached) I did not know what exactly it was so I called the title company that help me with this transaction and sent them a copy of this letter. The reviewed it and stated that it was a scam. They also mentioned that they get a lot of inquires with questions about these particular letters that new home owners are receiving. My advise to all home owners: if you get a letter regarding your property and you are not quite sure of its content, reach out to your agent or title company and verify the legality of all letters requesting your to pay any invoice you were unaware.
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What is an escalation clause?It's Buyer 1 saying I will pay X amount of dollars above your highest offer. Buyer 2 is at 250kBuyer 3 is 255kMeans at the end of the negotiations we are paying X