I was a featured lecturer today at the Harvard University Faculty Club which was hosting a group of 30 Chinese business men and women who had an interest in learning more about investing in real estate in the US.
During the Q and A period of the session a man, who identified himself as a builder in China, asked me this question: "Can a broker and a buyer work together to defraud a builder on the selling price?"
I wasn't even sure that I understood the question that's how foreign it was to my ears. So I asked the translator to repeat it. The second time it was slightly more understandable.
The question was could a broker pocket, and I guess a buyer pocket extra cash by both communicating to the builder/ seller that the selling price is lower than the actual price being paid.
It's a little insight perhaps into what might be happening in China if that can happen ever.
Has anyone ever heard of such a thing in the US?
That's Me On The Left
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