Is this info true?

**mourak** · 09-23-2009, 03:44 PM

First of all thanks to anyone here to answer my question.
friend mine her broker told her :
If you buy a house in the name of your child as first home buyer and of course you ll get $8000 rebate.
Can the mom of this child buy anther house and get the rebate as her son ?
is this broker right or not.?
Thanks for any answer

**Greg** · 09-24-2009, 06:29 AM

This broker is suggesting your friend use a straw buyer to make this deal. If she has the cash to buy the house then she can probably be successful at committing this fraud.

If there is a loan involved then the son will have to qualify for the loan. If the son doesn't qualify for the loan then the mom will have to be on the loan and then the house won't qualify for the tax break.

Tell your friend to find another broker as this one is showing their dishonesty up front. If they are willing to commit fraud for their client then they most likely are willing to commit fraud against their client.

**mourak** · 09-24-2009, 06:20 PM

thanks very much for this answer Greg

**jamesww** · 09-25-2009, 05:05 PM

Originally Posted by Greg

This broker is suggesting your friend use a straw buyer to make this deal. If she has the cash to buy the house then she can probably be successful at committing this fraud.

If there is a loan involved then the son will have to qualify for the loan. If the son doesn't qualify for the loan then the mom will have to be on the loan and then the house won't qualify for the tax break.

Tell your friend to find another broker as this one is showing their dishonesty up front. If they are willing to commit fraud for their client then they most likely are willing to commit fraud against their client.

Greg, is spot on with his analysis here. Always steer clear of those brokers that are willing to stretch the line of ethics or even encourage fraud. These brokers are more than happy to mislead you for profit.

**Arizona Real Estate** · 09-26-2009, 01:30 PM

I'm pretty sure this is fraud and the age of the child would also be a consideration.

**mourak** · 09-27-2009, 12:21 AM

thanks for everyone answer my question

**Nick Brian** · 10-03-2009, 07:12 PM

This broker is pushing up front irrelevant ideas to the buyer. It's a scam. Can be disastrous if listened to the broker. There's thousands of broker who have reputation. Contact with them.

**Sabir** · 06-17-2011, 05:20 AM

Hnn.. I don't so this plan really works.. This is simply not possible. My exp

**JLNorthOC** · 06-17-2011, 09:45 AM

This sounds like a straw purchase. If your friend is getting advice from her broker to do something like this I would question staying with the broker.

**Ian.Cayle.84** · 06-17-2011, 10:35 AM

Originally Posted by Greg

If they are willing to commit fraud for their client then they most likely are willing to commit fraud against their client.

that was an incredibly intelligent fact to point out! I wouldn't continue with that broker. You're going through a time that's probably pretty stressful right now and you don't need to become more stressed with someone who is willing to commit fraud. That would just worsen the situation you're currently in.

-Ian