Legal Question in Legal Ethics in Florida
double dealing
is this legal...a buyer [broker] who bought my commerical property presented a contract for $100-k with addendum to the contract for a $84-k 2nd. mtg. that I accepted.but the very next day another contract by [broker] $110-k again,accepted.[broker] said the $10-k was needed for improvements to the property and it would show as commission on the contract to purchase.that I accepted also.now since [broker] was getting a bank loan of $88-k to do the deal and put the differance up at closing toward the $110-k based on a bank certified appraisal of only $114-k [broker] did not want the bank nor closing title co. to know about the scheme and said we can do the 2nd. mtg. matter after the closing in the parking lot, that I accepted. the $10-k [broker] got at closing. the bank has no knowledge of the 2nd. mtg.of the $84-k...now is that legal,ethical,honest in view of standards in the RE profession.and is that lawful in the fedral secured banking of loans whereas the bank loaned on a piece of RE appraised $114-k not $184-k...can I sue and win over a matter of law where the [broker] checked the block as listing [broker] on that listing contract and did not offer me a signed/dated listing contract to get the !0-k commission...can I sue...
1 Answer from Attorneys
Re: double dealing
Sounds like bank fraud.