[quote=urbanrealtor][quote=joewhite]Was not a rental, and actually owned by a real estate agent (maybe broker?). From private conversations with well-versed agent, they know this was a bogus transaction. Unlike a place a few doors down which has been completely gutted, this place was not completely rebuilt. I would be shocked if more than 100K was put into it.[/quote]
So back in the world of adult conversations:
So Joe,
You knew this was a fake deal and were just having a piss?
You do realize agents have these childish (see above thread) and sensationalized discussions all the time.
We do boring things for a living and sometimes try to make it more interesting by saying we know something we don’t.
Its not a big secret.
So in the bogus (I don’t yet know if that term applies) transaction, who benefited?
Who was getting a piece at whose expense?
Was the the listing or selling or flipper agent kicking a referral to the original seller?
Please explain.[/quote]
FWIW how can you not see the obvious fraud here? Property is listed at $2.5M and gets sold as a short sale closer to $1M with no price reductions. Could there have been a buyer if the price was reduced to 1.8 or 1.7 or 1.6 or 1.5 or 1.4 or 1.3M etc? The proper way to do it is to test the market and to let the market decide what the FMV is. It is NOT to accept an offer about 60% of the listed price and never try for a better price. Its a fricking 1/2 acre lot in Malibu dude!!! It would be worth more than 1M in Encinitas!!!
