When a builder submits a quote to a bank, can they inflate t

hawksnest_n · Joined: 04 Dec 2007 Posts: 1 1.30 Dollars($)

A builder has given a bank a price for a home to be placed of the lenders property, the bank closes of the figures give by the builder. Then the lenders go to sign papers with the builder and the figures have been inflated and are not what the builder gave to the bank. Is this legal ?

shane · Posted: Tue Dec 04, 2007 7:53 am Post subject:

The way I am reading your message is that a lender went into an agreement with a builder to have a home placed on land that the lender already owns. The builder and lender agreed on one price, but then when it came to the closing the price was changed by the builder. Is that correct? Was there a purchase contract signed by the builder & lender? If so that is what outlines what the purchase price is... if they are using a title/escrow/attorney company for the closing the title/escrow/attorney goes by the purchase contract, no party has the ability to change the terms unless the other party agrees.

Or is there an actual individual homeowner involved here?

livinginnky · Posted: Tue Dec 04, 2007 9:35 am Post subject:

hawksnest_n,

Welcome to the forums!

I also don't think I completely understand the question. If you could elaborate that would probably help. Try to be as detailed as possible.

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