Reply to Legal recourse over below market home sale?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Was there an agent involved here? If an agent priced home 140K under market I'd think you could sue them for negligence (their duty of care would be to price at a market rate and to do the research that requires). But if they opted not to use an agent, it's on them. [/quote]

The ‘market rate’ is whatever price to which the buyer and seller agree.
[/quote]

"Market rate" is what a lot of buyers and a lot of sellers agree on.
Not only one seller and one seller.[/quote]

No, the market rate for the house you're selling is the price you and the buyer agree on. There's not some externally determined market price that trumps the actual sale price.[/quote]

Let’s assume there is  a development where the builder is selling identical houses for 800k.
The houses are selling well for him at that price point.
You walked in and you reminded him of his son so he sold you a house for 700k.

In this case clearly you are buying below market rate.[/quote]

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