Creative Ways To Increase The Purchase Price Paid

[Gary Freidman]

I am talking with a seller about buying a property. The seller is willing to give me a lower price but I was wondering if there were ways other people had used to keep the "purchase price" high for the purposes of getting a loan but really pay less. In short, I want to lower my out of pocket and get more money in the form of a loan through conventional financing without waiting 6 months.

The owner will also manage the property for me later and does not want to do seller financing. 

There a few things I could think of but all would have tax problems that negate any pluses. 

Any ideas?

[Bill Gulley]

Your idea is to show a higher purchase price than you really pay?

Then, your idea is appraisal/bank and mortgage fraud, tax fraud, a violation of RESPA, with that, if the mail is used in your transaction, mail fraud, if funds are wired or deposited, wire fraud. Your seller is in on it.....conspired to commit fraud?   

How do you look wearing stripes? 

This really isn't an idea, it's a brain phart. Deceit is not being creative.

Learn the basics of real estate before attempting to deal in real estate. Also apply common sense.   :)