Can you sell me this house?

12 Replies

So i was thinking... 

I want to live in a certain area in baltimore county that has a really good school system. In order for me to di that and not pay a ton of money id have to rehab a home. Well im quite sure its illegal to sell myself a home. But my question is, will it be illegal to ask an investor to purchase /rehab a home for me and i purchase it from them using my VA loan? I see it as a win win. I get the home for a lower price and they get profits.

What do you think? 

because deep down inside i want a piece of the pie...lol... plus it just doesnt sound right in my head. If i get someone else to sell me a home that has been bought and rehabbed i say hey if i buy it from you i want you to sell it to me on paper for 150k. They do and then give me 20k out of the 60k profit they just got from me. To me that doesnt sound right. But that would be awesome if its not illegal.

No you wouldn't be able to get a kick back as the purchaser of the property. AAll proceeds from the sale of a property will need to go on the HUD. Also an investor wouldn't want to sell a house to you and give you $20k of their proceeds when they can sell it to someone else and keep that $20k. The only option would be have them inflate the price $20k and give you a kickback but that would be illegal and probably wouldn't appraise anyway.

I have been following this email thread and it would appear from the surface to be fraud. To keep things on the up and up, please read the information that's available on the VA home loan website and call the helpline.

Also, I think you should take Austin's advice. This has sparked an idea in which I may use myself.   

Just so everyone is clear... I AM NOT TRYING TO COMMIT FRAUD NOR AM I GOING TO!!!

What i am trying to do is not have to put a down payment on my home and have low mortgage payments. Im trying to think of LEGAL ways to use my VA loan and stay within the guidlines, laws, etc as well as get what i want.

Cal c. Thats because from my first post i said what i meant to say. The second one is just my thoughts and confirming that its not right. 

Please pay attention to everything not just what can get you into trouble. I post here to get advice and guidance on the best way to do what i need to do, not read the obvious especially when its something that has been CLEARLY noted in my original post. 

However, thanks for the useful advice.