Rocky Vasquez wrote: I am currently working on a Short Sale in which the mother deeded property to her son (Mother abandoned son at age 10 and he is now 40). They are several months behind and even behind on taxes. The son is wanting a very large amount of money if I close on property which I do not mind paying him. Any ideas on how can I legally do this? FYI - I am a licensed Realtor. Your ideas are appreciated :)
If there is something else he owns that has nothing to do with the real estate transaction you referenced that has a
subjective value that is worth "a very large amount" to you, you might offer to purchase it from him in a completely separate and unrelated transaction for "a very large amount" that is fair, reasonable, and explainable. Art, antiques, rare books, rare stamps, sports memorabilia, etc. might have somewhat
subjective values. However, be sure not to pay way too much for something with a common value or that is easily appraised. You obviously don't want to even come close to doing anything that even appears to be illegal like fraud, etc. If your seller doesn't own anything of a
subjective value that you truly want, then this second, separate, and totally unrelated purchase should not occur.
