Posted by John Merchant on April 15, 2004 at 15:19:40:
That’ll sound pretty fishy and I’d suggest your buying an option on any house they’d like to buy, then telling them you’re overloaded and can’t use the option and if they want it, you’ll be glad to just assign them your option…and you’d have paid the seller the $10,000 for the option, but have the option agreement silent on what you paid so it does not reflect the money you really paid for it.
But don’t pay the seller anything until/unless you know your folks are going to be buying it.