I'm sure these shady deals go on all the time. I don't understand why the seller would drop the price from 125k to 30k, sounds pretty absurb. That alone might be a warning sign to stay away, your buyer might have actually saved himself 30k if there was some serious issues with the lot.

_____________________________________

www.ForeclosureLook.com

I'm confused... Here in Oklahoma, it's not legal to advertise a property for any more or any less than the listing price. It's not a free-for-all which is what you guys are making it sound like... Am I reading it incorrectly?

RebelBroker has a nice idea but here on Long Island, our Board has declared that all it takes is to have a note hand written from the homeowner (which again you can't really verify the hand writing unless something goes really wrong and you end up in court or something) stating that they want all offers going through the LA and that's it... You can get this letter at anytime so most agents get something signed as part of their listing package and you (as a selling or buyers agent) will never have a shot at contacting the homeowner and if you do, you're in a load of trouble...

Dan Ortiz ABR CRS CREOS (Hablo Espanol)
Licensed Broker/Owner
Manor Gate Real Estate of NY Inc

"If you think hiring a professional is expensive, wait till you hire an amateur" Red Adair

[quote=OklaHome]I'm confused... Here in Oklahoma, it's not legal to advertise a property for any more or any less than the listing price. It's not a free-for-all which is what you guys are making it sound like... Am I reading it incorrectly? [/quote]

Here in NY it is not legal for you to advertise any price that isn't in line with what's on your MLS listing and if you make ANY price changes you must have a signed form by the seller before you can do anything and it must be on the MLS listing first...

Dan Ortiz ABR CRS CREOS (Hablo Espanol)
Licensed Broker/Owner
Manor Gate Real Estate of NY Inc

"If you think hiring a professional is expensive, wait till you hire an amateur" Red Adair