How many "non rich" know about this option, I wonder? Why is it written "in pencil?" That's a weird detail in an era of computer databases, disquieting in that it implies it can be erased or changed, and who'd know? Did the reporter, Pete Carey, look up that $129,250 figure in the binder himself? Why would the buyer wish the transaction to be hidden? If I were a neighbor to the property, or a party in a suit against the buyer, or a victim of that person, yeah, I'd want to know his name.
Obviously if u buy for under market price you want to hide this so when u fix n flip for double what u paid the clueless noob fha buyer thinks hes getting a steal.
Yup. I have been to that very office in San Mateo County and a clerk there told me that the place is rife with scams. Another typical one is to simply overpay the transfer tax and have it recorded.
Sale prices are "estimated" from the transfer tax and there is no rule against overpaying that tax to make the estimated price higher. Which is very useful when you want to screw over that noob FHA buyer, just like you say.