arms length affidavit when sellers want us to buy their funiture, separate from purchase?

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We are at the end of a short sale transaction. The owners want us to give them thousands for the furniture, separate from the purchase price. ‘They want to put some money in their pockets’, as explained to us. Legal counsel told us it is fraud, pure and simple. They told us they would talk to the bank about the separate arrangement but it doesn’t seem that they have. Would love some advice.

Thank you


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Do you want to buy their furniture? Or are you being pressured into it? If the latter, don’t do it. If you really want to buy it, and the price is fair, then after the sale is concluded, and not as part of the transaction, you can do it. Just don’t tie the two transactions together, or allow yourself to be pressured. A lender that approves a short sale doesn’t automatically have dominion or control over the borrower’s personal property. What’s being short-sold is only the real estate. The borrower’s sofa and chairs are his to dispose of as he wishes!

Answered 8 months ago

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