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Tina
Tina, Lawyer
Category: Real Estate Law
Satisfied Customers: 5436
Experience:  17 years of legal experience including real estate law.
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Can I ask HUD statements when paying cash house, one that

Customer Question

Can I ask for two HUD statements when paying cash for a house, one that shows the sale closer to the appraised value for tax reasons?
Submitted: 1 year ago.
Category: Real Estate Law
Expert:  Loren replied 1 year ago.

Unfortunately, no, since the closing statement is a signed statement showing the actual cash accounting of the transaction. No closing agent would sign off on fraudulent closing figures. Additionally, if you presented the fraudulent HUD1 to support a tax position you would be guilty of tax fraud.

Expert:  Loren replied 1 year ago.

I realize this is probably not the answer you were hoping to receive. Also, please remember that this is not necessarily a moral judgement on my part. As a professional, however, I am sometimes placed in the position of having to deliver news which is not favorable to a customer's legal position, but accurately reflects their position under the law. I hate it, but it happens and I only ask that you not penalize me with a bad or poor rating for having to deliver less than favorable news.

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