What is the term used for when a buyer and seller write two contracts for one property with different amounts?

The term "fraudulent dual contracting" refers to the situation where a buyer and seller create two separate contracts for the same property, each with different terms or amounts. This practice often involves one contract that is disclosed to the lender or authorities and another that reflects different terms, typically more favorable to one party. This is considered fraudulent because it can mislead parties involved, especially in financial transactions, and it violates ethical standards in real estate practices. It undermines the integrity of the transaction process and can lead to serious legal consequences for those involved.

The other terms listed do not accurately capture the nature or implications of such an act in real estate. "Competing contracts" does not sufficiently describe the fraudulent intent behind creating two separate agreements, while "legal dual agreements" fails to acknowledge the illegal aspects of such contracts when they are done to deceive. "Neighboring contracts" has no relevant connection in the context of contract law or real estate transactions. Thus, "fraudulent dual contracting" is the appropriate term to describe this unethical and illegal practice.