5 Bed / 6 Bath Home in The River Club

4834 Elkhorn Hill Drive

Suwanee, GA 30024

$3950000
Welcome Home to your Elegant Rustic Style Lodge with unique custom finishes and high quality Craftsmanship throughout the home. A splendid setting where elegance meets nature. This 5BD/6.3 BA home (2 of the BD's are master Suites)has private view of the Greg Norman Golf Course, a pond and mature woods. Backyard features pool w/hot tub,waterfall and Firepit for your everyday enjoyment. 2 Cooks kitchens, 6 FP's,Spa area on terrace level w/Sauna,Steam shower,massage room, work out room & Aerobic room.3 Laundry rooms, Elevator, Wide plank hand scraped walnut floors.

Summary

MLS #5650314
Price3950000
Bedrooms5
Bathrooms (Full)6
Square Footage10185
Square Footage SourceTax Record
StatusActive

Features

7 Bed / 7 Bath Home in THE RIVER CLUB

4745 Cuyahoga Cove

Suwanee, GA 30024

$3790000
ONE OF THE MOST IMPRESSIVE FRENCH PROVINCIAL ESTATES TO REACH MARKET IN N. ATLANTA, BOASTING UNPRECEDENTED DETAIL & ARCHITECTURAL CUSTOM CRAFTSMANSHIP.... SITTING ON A LEVEL CUL-DE-SAC LOT YET PERCHED TALL ABOVE THE GREG NORMAL GOLF COURSE, WITH PANORAMIC VIEWS AND 380 FT OF LAKE FRONTAGE, THIS HOME TOOK ALMOST $1 MILLION IN HAND-CUT TENNESSEE STONEWORK ALONE. ENJOY WIDE-PLANK HEART OF PINE FLOORING, LARGE AND ENTERTAINING OPEN FLOOR PLAN. ABSOLUTELY STUNNING GOURMET CHEF'S KITCHEN WITH DOUBLE SUB ZEROS- AND VIRTUALLY EVERY CONCEIVABLE OPTION. 4 FIREPLACES. 5-CAR

Summary

MLS #5718436
Price3790000
Bedrooms7
Bathrooms (Full)7
Square Footage11738
Square Footage SourceTax Record
StatusActive

Features

6 Bed / 6 Bath Home in The River Club

4695 Whitestone Way

Suwanee, GA 30024

$2599000
Custom Home in The River Club. 6 Bedroom 6.5 Ba on double lot backing golf course. 1st floor features large 2 story foyer overlooking LR with handsome study and large entertaining DR. Gourmet kitchen overlooks oversized Family Room and covered porch. Master on main and 2nd bedroom on main. Upstairs features 3 bedrooms all with private baths and large dressing area. Terrace level features bedroom and bath, Bar area, game room and theatre.

Summary

MLS #5751567
Price2599000
Bedrooms6
Bathrooms (Full)6
Square Footage8412
Square Footage SourceAppraisal
StatusActive

Features

6 Bed / 6 Bath Home in The River Club

4605 Whitestone Way

Suwanee, GA 30024

$2500000
Exquisite estate home with the finest attention to detail throughout. Overlooking 4th green, home features marble inlayed foyer, Liv Rm, Office w/FP, opulent Great Rm w/FP, state of the art Kitchen, Stunning Keeping Rm w/beamed ceiling & FP, Romantic Master on main, elevator, World class terrace Lvl w/Rec Rm w/FP, Bar, Billiards Rm w/FP, Humidor, Home Theater(all equipment stays!), 2nd master suite & most beautiful finish work in the River Club. Pool & spa w/stone surround, stunning outdoor living areas. WOW!

Summary

MLS #5722910
Price2500000
Bedrooms6
Bathrooms (Full)6
Square Footage9476
Square Footage SourceTax Record
StatusActive

Features

6 Bed / 6 Bath Home in The River Club

869 Big Horn Hollow

Suwanee, GA 30024

$2450000
Welcome home...you've earned this! Enter an innovative floor plan built for entertaining & family enjoyment. Delight in vaulted wood beamed ceilings throughout, wood, brick & travertine floors, wide baseboards, stained doors throughout. The chef of the family will revel in the showcase kitchen of granite and brick. Master on main, separate his & hers baths/closets with car wash shower for both to enjoy. Terrace level is filled with customized features including media room with built in show cases for memorabilia, bar, wine cellar, game room, cozy rec room with fireplace

Summary

MLS #5713023
Price2450000
Bedrooms6
Bathrooms (Full)6
Square Footage9663
Square Footage SourceTax Record
StatusActive

Features

6 Bed / 6 Bath Home in The River Club

912 Little Darby Lane

Suwanee, GA 30024

$2099000
Old world European inspired master piece, indescribable detail thruout,in private setting, 2 story grand foyer w/spiral staircase, pecky cypress paneled study, gourmet kitchen views to fireside keep rm ,Private master suite on main level w/spa like master bath, his/hers closets w/custom built-ins, whole house audio system ,cover porch w/outdoor fireplace/Terrace level features: Pub style bar,w/1800 bottle wine cellar, theater seats 8 features concession stand, billiard rm,card rm,spa rm w/sauna, salt water pool & spa w/cascading waterfalls & outdoor fire pit.

Summary

MLS #5693604
Price2099000
Bedrooms6
Bathrooms (Full)6
Square Footage9755
Square Footage SourceBuilder
StatusActive

Features

6 Bed / 6 Bath Home in The River Club

811 Flathead Pass

Suwanee, GA 30024

$1975000
Exquisite stone home. Quiet cul-de-sac. 1+/- acres. Impeccable detail + finishes, motor court w 6-car garage. Dormer windows w diagonal panes, peaked arches accent old world architecture. Entry offers views of dining rm + 2-story fireside great rm w 16' windows + flanking bookcases. Arched 8' French doors + 14' ceiling in fireside library. Chefs kitchen w generous counterspace, walk-in pantry, opens to fireside keeping rm w walls of windows + coffered ceiling. Owners suite w 14' ceiling, fireplace, luxury closet 'for her', spiral stairs to 'his closet' + exercise space,

Summary

MLS #5756560
Price1975000
Bedrooms6
Bathrooms (Full)6
Square Footage8200
Square Footage SourceTax Record
StatusActive

Features

6 Bed / 5 Bath Home in The River Club

962 Little Darby Lane

Suwanee, GA 30024

$1849999
Exquisite details with superb finishing mark this amazing River Club home! Formal DR w pecky cypress walls, rustic aged exposed beams, handkerchief ceiling in foyer w built in bookcases. Kitchen built for 2 chefs w island feat all Viking appl & custom inlay cabinetry. Owners suite on main. Barn door leads to pool bath, mud rm w laundry & hammered copper sink. Junior master w spa bath. Finished terrace level& outdoor living at its finest. Complete w private 1 Bdrm Guest House w kitchenette & screened porch overlooking saltwater pool w spa.

Summary

MLS #5645985
Price1849999
Bedrooms6
Bathrooms (Full)5
Square Footage7603
Square Footage SourceBuilder
StatusActive

Features

5 Bed / 5 Bath Home in The River Club

878 Crescent River Pass

Suwanee, GA 30024

$1799999
Stunning Brick & Stone Manor home w good golf course views. Outdoor living rooms on multi levels w fireplace overlooking pool & waterfall spa. Chefs kitchen w mixed woods. Working island w veggie sink, warming drawer, Wolf gas coooktop, dual dishwashers, subzero and wine chiller. Main floor boasts study w fireplace, living room w fireplace & stone walls, formal dining room, & owners suite on main. 3 generous ensuite bedrooms upstairs. Terrace level finished w media, billiards area, custom bar, wine, office, & guest bedroom w full bath.

Summary

MLS #5758623
Price1799999
Bedrooms5
Bathrooms (Full)5
Square Footage7316
Square Footage SourceTax Record
StatusActive

Features

6 Bed / 5 Bath Home in The River Club

5212 Boulder Bluff Way

Suwanee, GA 30024

$1789900
A cul-de-sac lot, this 6 bed home offers an abundance of outdoor living spaces,spa pool & fire pit backing up to natural woods. Foyer flanked w/a large DR & study.The kitchen has it all: island w/serving bar,walk-in pantry & counter space for the home chef.The vaulted kitchen-family room is accented w/ truss beams. Main floor master has spacious his/her walk in closets. A finished terrace w/ theater, family/billiards & game rooms,full kitchen, weight room, guest suite & BA completes this home.

Summary

MLS #5687744
Price1789900
Bedrooms6
Bathrooms (Full)5
Square Footage7553
Square Footage SourceTax Record
StatusActive

Features

6 Bed / 6 Bath Home in None

2915 Southers Circle

Suwanee, GA 30024

$1680000
Peaceful estate with all the amenities-an entertainer's delight! Enter through the iron gate & follow the drive through the trees to your new dream home. A must see with no detail forgotten! Gorgeous Chef's kitchen open to keeping room & breakfast area. Master on main. Finished basement w/full kitchen, custom walnut bar, theater room & more. Saltwater pool/spa with auto cover & outdoor fireplace. HUGE shop w/14' RV door & second 12' door, foam insulation, wired 220 w/gas lines run. Enjoy the convenience of the Chattahoochee Recreation Area out your back door.

Summary

MLS #5740199
Price1680000
Bedrooms6
Bathrooms (Full)6
Square Footage5385
Square Footage SourceAppraisal
StatusActive

Features

4 Bed / 4 Bath Home in The River Club

4870 Hanalei Hollow

Suwanee, GA 30024

$1599990
Home must be sold with a 18-24 month lease back. Fabulous Arthur Rutenberg Custom Home siutated in the River Valley at The River Club. This stunning home features an open floor plan for entertaining, gourmet chef's kitchen and owners suite on the main floor. Upstairs are 3 additional on suite bedrooms and a bonus room. Home has amazing view of 16th fairway and is walking distance to the club. This home is sold furnished.

Summary

MLS #5765916
Price1599990
Bedrooms4
Bathrooms (Full)4
Square Footage4333
Square Footage SourceBuilder
StatusActive

Features

6 Bed / 6 Bath Home in THE RIVER CLUB

4732 Blackwater Way

Suwanee, GA 30024

$1599900
Sitting beautifully on the 6th hole, this home has all the extensive trim/finishes any discriminating buyer will appreciate! Filled w natural light w features to include solid teak flooring, true hand crafted masonry frpl, planked walls in FR, waterworks faucets throughout, custom interior trim & built ins, calcutta gold marble counter tops, & custom hardware. Home is accented w hand baked brick, stone foundation & slate roof for welcoming appeal. Owner suite up w frpl & bath w waterworks tub, steam shower & bidet. Terr lvl w kitchen/bar & bath. 4 car garage too!

Summary

MLS #5566477
Price1599900
Bedrooms6
Bathrooms (Full)6
Square Footage7800
Square Footage SourceTax Record
StatusActive

Features

7 Bed / 8 Bath Home in Belmore Estates

4994 Price Drive

Suwanee, GA 30024

$1599000
Stunning brick & stone estate on over 1 acre in private gated community. Resort style pool featuring waterfall,slide,hot tub, & fire pit plus covered porch w fireplace.4car garage, 8 fireplaces, 3 laundry rooms. Huge owner's suite w private balcony, spacious secondary bedrooms & lofts. Gourmet kitchen well-equipped w high-end appliances opens to spacious keeping room & breakfast room overlooking pool.Terrace level has 2nd kitchen/bar, theater, fitness, steam sauna, game room, den, & guest suite. MANY details and UPGRADES! Luxurious Lifestyle!

Summary

MLS #5765505
Price1599000
Bedrooms7
Bathrooms (Full)8
Square Footage11592
Square Footage SourceTax Record
StatusActive

Features

6 Bed / 6 Bath Home in The River Club

4505 Whitestone Way

Suwanee, GA 30024

$1550000
Tuscan columns and a wrought iron railing greet you at the covered porch of this brick & stone estate, inviting you to step inside. The gracious interior includes 12' ceilings, panelled study, sunny solarium with brick walls & soaring arched windows, a chef's dream kitchen w/ honed granite counter tops, soapstone apron sink, top of the line appliances. Tremendous entertaining space with covered outdoor living space including an outdoor dining porch. Guest suite on main lined by leaded glass windows w/ access to the covered porch.

Summary

MLS #5634131
Price1550000
Bedrooms6
Bathrooms (Full)6
Square Footage8187
Square Footage SourceAppraisal
StatusActive

Features

4 Bed / 5 Bath Home in The River Club

878 Big Horn Hollow

Suwanee, GA 30024

$1499999
Superb craftsmanship reflect in the River Club brick/stone home. Welcoming foyer feat inlaid floors & flanked by gentleman's Study w custom builtins & formal DR. Natural light fills the GR w fireplace & wet bar. Gourmet Kit feat dual Dishwashers, Subzero, Thermador 6 burner cooktop & dual convection ovens, large island & 2 pantries! Main level owner ste w sitting area & spa bath. Stained Canadian Maple hardwood flooring, 2 ensuite bdrms up & junior owner ste w jetted tub & dual vanities. Fin terr includes billiards/game room & gym w rubber flooring w full bath.

Summary

MLS #5758524
Price1499999
Bedrooms4
Bathrooms (Full)5
Square Footage7133
Square Footage SourceAppraisal
StatusActive

Features

5 Bed / 5 Bath Home in The River Club

932 Chattooga Trace

Suwanee, GA 30024

$1490000
Modern Day CHIC nestled in the ultra exclusive River Club. Every detail was carefully selected and quality crafted; Reclaimed wood beams & finishes, shiplap & birch walls, Luster Stone walls & ceilings, rich moldings. Master suite on main offers serenity & privacy. Open 2 story family room w/ stone fireplace & T&G ceiling adjacent to the modern renovated chef's kitchen. Enjoy alfresco dining on the covered porch or enjoy smores by the fire on the amazing renovated Trex deck that overlooks the pristine gardens. Full daylight terrace level awaits your finishes.

Summary

MLS #5760185
Price1490000
Bedrooms5
Bathrooms (Full)5
Square Footage5780
Square Footage SourceAppraisal
StatusActive

Features

5 Bed / 5 Bath Home in The River Club

5108 Coosa Court

Suwanee, GA 30024

$1475000
Located in a Private setting,home has been meticulously maintained paneled study, gourmet kitchen views to fireside vaulted keep rm,hardwood flooring throughout,master suite on main level w/spa like master bath, his/hers closets w/custom built-ins,second master suite upstairs,large secondary bedrooms w/private baths & great closet space,laundry on main & upstairs cover screen porch w/outdoor fireplace amazing backyard w/stone paver patio that views cascading waterfall & outdoor fire pit.Home backs up to nature preserve,prefect lot for pool walk out from your main floor

Summary

MLS #5765721
Price1475000
Bedrooms5
Bathrooms (Full)5
Square Footage6603
Square Footage SourceTax Record
StatusActive

Features

5 Bed / 4 Bath Home in The River Club

4971 Roaring Fork Pass

Suwanee, GA 30024

$1444800
Stunning J. Patrick O'Donnell brick & stone masterpiece brimming with character in The River Club. Situated on wide lot with preserved forest area, this 5BR, 4 and 2 half BA home is loaded with high-end features, including custom closet system in elegant master retreat on main. Chef's kitchen with pot filler, beverage refrigerator, warming drawer, farm sink, sliding barn door and Wolf range opens up to vaulted, beamed ceilings in family room and screened porch with fireplace. Perfect for entertaining! Full daylight lower level is framed, roughed in for lg in-law suite.

Summary

MLS #5706779
Price1444800
Bedrooms5
Bathrooms (Full)4
Square Footage5000
Square Footage SourceBuilder
StatusActive

Features

5 Bed / 5 Bath Home in The River Club

5192 Boulder Bluff Way

Suwanee, GA 30024

$1425000
Fabulous build opportunity with builder Pat O'Donnell. Lot is nestled in quiet cul de sac close to The River Club amenity area. 5 bed/5.1 bath home. Master suite on main with spa like bath and his/her closet. Formal dining room/study, gourmet cook's kitchen over looking the great room and outside covered veranda with fireplace. Four additional bdrms upstairs all with private baths. Live in a community that meets expectations.

Summary

MLS #5741679
Price1425000
Bedrooms5
Bathrooms (Full)5
Square Footage4571
Square Footage SourceBuilder
StatusActive

Features

news | Garage with a Detached Home | Gwinnett County GA

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Category Archives: news

Just a few notes…

Mud for BloodI just wanted to pass along a few things to help out some people.

GBR Mud 4 Blood

Mud for BloodFirst, Here in the Atlanta area, the GBR4WD Club will be hosting its 5th Annual Mud 4 Blood drive. I have mentioned it previously, and will soon mention it again (at least on my Active Rain blog). Along the right margin, you can see a montage of images from previous events.

This year’s event will again be held at the Bass Pro Shops location at Discover Mills (I-85 and Sugarloaf Parkway across the interstate from the Gwinnett Center) on May 10th. Blood collection will run from 9:30 until around 3:30 in the parking lot.

Aside from the blood drive, there is a GIANT raffle for those that donate or attempt to donate blood. Last year, vendors donated over $4000 in prizes for the raffle, goody bags and silent auction. There will be a silent auction benefiting Rescue Tellico. There is also a “Scratch & Dent” sale from Rugged Ridge with a portion of the proceeds benefiting selected charities. Finally, there will be a truck show running all day long. And this won’t be a chrome and paint kind of truck show.

For further information, be sure to visit the official Mud 4 Blood website.

 

Nicole Bandell and the American Cancer Society Relay for Life

Nicole BandellMy ex-Sister in Law is walking in the ACS Relay for Life. Her event is on May 16th and 17th in Springfield, MO. Her Mother is a Breast Cancer Survivor, and Nicole is walking in her honor, along with other friends and family members that have faced cancer. I could try to say all sorts of things, but it would be better just to excerpt a little from Nicole’s website:

Nicole's ACS image

I fully support the Relay for Life as my mother, Lillian Bandell, is a breast cancer survivor. I have never been so afraid in my life – when I found out she had it I went numb – but she was brave, fought and won! SInce that time I have had numberous friends, that I am proud to say are survivors, of all different types of cancer – Dale, Julia, Donna, Clyde and my Aunt Bonnie – along with others I have met online through school, I salute each of you on the fight you have endured – this is for each and every one of you!

Nicole is a great person and has my support. I have a great affection for all of the Bandells. Lillian is a true hero.

 

Jay Bird and the Breast Cancer 3 Day

Jay on the 3 DayJay has been doing the 3 Day to End Breast Cancer for the last several years. He is one of the few guys that walk each event. He has built a very successful fund-raising team. They have raffled off a vehicle, had wine and cheese tasting events, charity concerts and target shooting poker. Each year they pull the stops out a little more and shock everyone by doing more. Even though they are smaller than many of the teams, they area always near the top of the rankings for the incredible fund-raising they do.

But, it isn’t all about the fund-raising. They have fun and promote fitness… and they do an incredible job of spreading the word.

 

What can you do?

Creative Commons License photo credit: Wesley Fryer
There are a lot of different opportunities for people to help charitable organizations. They range from fast and easy to longer term commitments. But, all of these different opportunities can be quite rewarding.

Gail and I raised money by participating with the American Stroke Association’s Train to End Stroke and running in the Walt Disney World Marathon. Before that, each of us supported various charities ranging from the Humane Society to the Alzheimer’s Association. Walking, running, donating labor and money, or hosting events are some of the ways to pitch in and help.

Another simple way to give a little bit of yourself is to donate blood. It is fast and easy… I know, I HATE the needles, but I get through it each time. I can speak from very personal experience that the LifeSouth team that works the GBR4WD Mud 4 Blood event are pretty good.

Just get involved.

Sales up in February

Forbes.com is reporting that nationally as well as regionally, homes sales increased as prices dropped.

The report showed sales of existing homes increased by 2.9%, to 5.03 million units in February, from 4.89 million in January. According to Thomson Financial, the Street had expected a decline of 0.8%, to 4.85 million units.

Although February’s numbers are still well below the all-time high of 7.072 million units set in 2005, the increase shows that the housing crisis may be waning.

The NAR has been reporting that they are looking for a recovery in the second half of the year.  Last summer I started saying second quarter.  Here are the regional numbers.

Existing-home sales saw the largest increase in the Northeast region with a gain of 11.3% to 890,000 in February. These homes were going for a median price of $264,800, up 0.4% from a year ago. The Midwest and the South also saw slight increases of 2.5% and 2.1% respectively; while home sales in the West slipped 1.1%, to 920,000.

Single-family home sales saw a boost of about 2.8%, to 4.47 million, with a median selling price of $193,900.

So, that is good news.

I won’t have numbers for Gwinnett County, GA until late in the first week of April, but we will see what we are looking like locally at that time.  The preliminary numbers were ugly, but they always are… it seems that a lot of people aren’t very good about getting their sales reported until after the first of the month.

As I have been saying for a little while, the best deals will start going away before anyone reports numbers showing the market turning.  We can only see where the market is headed after it is heading there… looking through the rear-view mirror, as it were.

Step back, I’m trying to save lives here!

I ran across a story from the LA Times.

It seems that in LA there is a problem with people and their garages.  Despite the fact that homes with 2 and 3 and more car garages is increasing, households with 3 or more cars are increasing pretty fast too.  And there is a bigger problem… People are filling their garages with their junk, not their cars.

Ok, that isn’t the real problem.  The real problem is that people are getting territorial over their parking spots on the street.  Even to the point of shooting their neighbors for parking in the street in front of their home… seriously.

There are a few answers for this terrible dilemma…

  • Get rid of some of the junk.  The article points out something true and humorous… having a $50,000 car sitting in the street while having junk not worthy of Ebay taking up the valuable inside space.
  • Get rid of some of your cars…  ok, I’m kidding.
  • Get a bigger garage.  You can build it, or you can find a house that already has one.  (Surprise… I can help with that).

So, you thought I was in this real estate thing for selfish purposes… but now you can see that I am saving lives… one big garage at a time.

;^ )

It is better than mediation!

Newsletter #1 has been emailed!

And of course I found a mistake right after I hit the send button… but hey, I’m not perfect.  Ask my wife.

If you would like to be on the e-newsletter list, join.  On the top right side of this page is the subscription form.  I’m not going to spam you 10 times a month with junk.  I won’t send out more than a couple times a month (honestly, I don’t plan on doing a newsletter more than once a month…).

I will be altering the newsletter format as I find better products to use.

I’d love your feedback if you are one of the lucky readers that got on the list.

And remember, you can unsubscribe at any time.  Just shoot me an email and you will be off the list.  I don’t want anyone to have things in their email box that they don’t want… at least not from me.

Sellers, protect yourselves

There are a couple of stories in the last few days that have hit the same sour note.  And, if you are selling your home (with or without representation), you need to be aware of this situation.

Loan fraud is still rearing its ugly head.  Speaking at the Mortgage Brokers Association fraud conference:

Merle D. Sharick, vice president of sales for MARI, stated that Suspicious Activity Reports received by the Federal Bureau of Investigation and the Financial Crimes Enforcement Network from federally regulated banks jumped 139 percent between 2006 and 2007. The jump in fraud will spell record losses for lenders, easily topping $1 billion, says the report. 

Georgia ranked 6th in mortgage fraud last year.  Most common types of fraud are still generally on the buyer side, things like mis-stated income, assets or debts.  However, that isn’t all.  The FBI is looking at mortgage fraud on several levels.

The FBI has assigned 100 agents to investigate corporate fraud aspects of the housing crisis, including subprime lending and insider trading. Another 150 are looking at related securities fraud, and 153 are looking at loan originations, says Neil Power, economic crimes unit chief of the FBI’s financial crimes section.

To break it right down to an individual level:

A Las Vegas couple is accused of orchestrating more than 400 sham real estate deals and cashing in on millions of dollars through a mortgage fraud scheme that involved inflated house values and straw buyers.

Eve Mazzarella, ABR®, GRI, broker and owner of Distinctive Real Estate & Investments in Las Vegas, and her husband, Steven Grimm, were indicted last Wednesday and charged with bank fraud, money laundering, and aiding and abetting, according to the U.S. Attorney for the District of Nevada.

If convicted, they could face up to 30 years in prison and a $1 million fine on each of the six bank fraud charges. They could also face up to 10 years in prison and a $250,000 fine on the money laundering charge, according to the U.S. Attorney.

The couple operated numerous limited-liability companies and allegedly used them to engage in 432 straw buyer transactions and obtain control over about 227 properties at inflated values. The total purchase price of the properties was more than $100 million.

The couple defaulted on mortgage payments on many of the loans, which caused at least half of the properties to go into foreclosure, according to officials. The foreclosed properties have caused losses to the banks of more than $15 million. 

This is a little different from the buyer overstating their qualifications on a mortgage application.  It is also the type of fraud that sellers need to be tuned in to.  

One more than a couple of listings I have had offers presented that could be fraud.  Often, the other agent didn’t know that what they were asking for was fraud.  The offer would typically look like this:

  • List price of $300,000
  • Offer of $375,000
  • Seller to rebate the buyer $60,000
  • Preparation of two contracts
    • First contract to govern the deal between buyer and seller
    • Second contract to be submitted to the mortgage lender
  • In some cases instead of a rebate, the seller would pay a large amount to a contractor for renovation.  The contractor would be involved with the buyer.

As a seller, being involved in this type of transaction can land you in deep water.  Just as with the agents, appraiser and buyer (possibly the mortgage broker and closing attorney as well) there is a possibility of criminal charges for the seller.  Jail time.

So, the bottom line is that sellers need to make sure that they don’t fall into one of these schemes.  The offer might start out sounding normal, and then there is a call to change some of the terms.  Obviously, I would say that having a good agent is one way to stay out of this type of trouble.   You need to know and trust the person you are working with.  If in doubt, contact an outside party to see what they think.

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