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Real Estate
Reply to "Legal recourse over below market home sale?"
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[quote=Anonymous]My friend (first time home seller) sold his childhood home that he lived in to someone for $125k under market value. At worst, the buyer lied to him about what he intended to do with the home that resulted in my friend selling the home to him for $140k. Supposedly he promised to do something special like make it a home for elderly people. At best, my friend misinterpreted the terms of the deal only to see the buyer turn around and sell the home four months later for $125k more. When I heard this story, I couldn't believe it, but tried to reassure myself that it was for perhaps $20-40k or something. Something to be momentarily upset about but nothing to lose sleep over. Then I looked up the sale price today on Zillow and was stunned to see the difference was so much. I highly doubt any of the agreement was in writing. But does my friend have any legal recourse here to claw back some of this money? Or is it hire lawyers to try to get this guy to give back some cash? I know those are probably one in the same.[/quote]
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