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Real Estate
Reply to "Legal recourse over below market home sale?"
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[quote=Anonymous][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] Wrong. If a seller sells a $900K house to his granddaughter for $25K, do you think the market rate/value is now $25K? [/quote] “Sale price between seller and willing and otherwise able buyer in an ‘arms-length’ transaction. [/quote]
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