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Can I ask HUD statements when paying cash house, one that…

Customer Question
Can I ask for two...
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: 2 years ago.Category: Real Estate Law
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Answered in 3 minutes by:
1/28/2016
Real Estate Lawyer: Loren, Lawyer replied 2 years ago
Loren
Loren, Lawyer
Category: Real Estate Law
Satisfied Customers: 39,327
Experience: 30 years of real estate practice experience.
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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.

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Real Estate Lawyer: Loren, Lawyer replied 2 years 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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DISCLAIMER: Answers from Experts on JustAnswer are not substitutes for the advice of an attorney. JustAnswer is a public forum and questions and responses are not private or confidential or protected by the attorney-client privilege. The Expert above is not your attorney, and the response above is not legal advice. You should not read this response to propose specific action or address specific circumstances, but only to give you a sense of general principles of law that might affect the situation you describe. Application of these general principles to particular circumstances must be done by a lawyer who has spoken with you in confidence, learned all relevant information, and explored various options. Before acting on these general principles, you should hire a lawyer licensed to practice law in the jurisdiction to which your question pertains.

The responses above are from individual Experts, not JustAnswer. The site and services are provided “as is”. To view the verified credential of an Expert, click on the “Verified” symbol in the Expert’s profile. This site is not for emergency questions which should be directed immediately by telephone or in-person to qualified professionals. Please carefully read the Terms of Service (last updated February 8, 2012).

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