Is A Realtor Scaming My Neighbor?

Maybe someone at 311 would have a suggestion.

Sisophys

in Real Estate - Sales 13 years and 7 months ago

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stanhope | 13 years and 7 months ago

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I recently found out that my elderly neighbor is selling her brownstone for a ridiculously low price.  I mean like a quater of what it’s worth.  Then I find out the realtor she contacted to sell the property is the buyer.  Is this legal? If not where do I go to report it?

daveinbedstuy | 13 years and 7 months ago

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Why don’t you just talk to her about it?  If she’s in contract there isn’t much you can do.  Who is the realtor?

Boerumresident | 13 years and 7 months ago

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First, I would be sure about nosing into the affairs of others too much. When you say a quarter of what it’s worth, do you really mean that? Many times houses that have been with the same owner have significant deferred maintenance issues, zoning issues, etc that a buyer will need to fix. Similarly fixtures and layouts may be changed over time that would require significant work to return top dollar. If you are still concerned that she is being taken advantage of, I would talk with her (as DIBS suggests) and/or children if you don’t think she is fully together mentally anymore — the house is probably her retirement basis and the entire estate when she passes. If you still think it’s an issue after that, both the Brooklyn DA’s office and the AG’s office handle these kind of complaints.

DonaldBrennan | 13 years and 7 months ago

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You should find out who her attorney is.  I believe she has the right to legal representation of her choosing in such a transaction.  Did she choose her attorney is one question you might ask.

ejalbk | 13 years and 7 months ago

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It’s legal but fraught with conflicts of interest. Is the broker/buyer also getting a commission?

Crownlfc | 13 years and 7 months ago

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Why don’t you simply call the realtor and ask (pretending to be a customer of course) “why is it so cheap?”