Quote:
Originally Posted by onetwo_threefour
I'm a real estate lawyer, I'm not naïve. I know people lie on these things. Having said that, I would take huge issue with the first bolded portion above. Have you ever looked up the penalties for swearing false documents? My suggestion was that the idea of what Shermantor mentioned is not something that people should generally do. I'm not sure why you're disagreeing with me. Apparently you're suggesting that perpetrating fraud is common and therefore it is something that people can do to offset the difficulty in coming up with the required down-payment. My two cents is to educate people that this is illegal and could put you at risk and that is just as much of a 'reality' as what you have said about people lying on these things, so I don't know why you're arguing with me.
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I'm not disagreeing with you at all. I know a stat dec is a legal document and lying on it is against the law. I'm just saying that reality is that people lying on it is common. Heck, even Shermanater's bank allowed him to do it.
When the clients go sign docs at the lawyer's and they slip up by saying something like "my parents are letting me take my time paying them back the down payment", I highly doubt many lawyers will halt the transaction. They'll simply pretend they didn't hear it, get all the docs signed and get paid.