Question: In 2019, my parents sold the family home in Gilbert and moved to a continuing care facility 3 miles away. They had purchased the family home in the 1980’s for $185,000. Both of my parents passed away last year. My sister and I were going through their paperwork recently. We were shocked to find that our parents had signed a contract with a buyer to sell the home, which was in pristine condition, for only $290,000. This buyer, while in escrow sold the home to another buyer for $425,000, and the sale closed. My sister is a Realtor, and she said that the fair market of the home in 2019 was at least $425,000. In other words, my parents were cheated out of at least $135,000. Is there anything that we can do now, or is it too late?
Answer: Probably too late. The original $290,000 buyer in this transaction was a “wholesale” buyer. In other words, a buyer who never intends to close escrow, but intends to assign the purchase contract in…..