I am a broker here in CA. I am representing a buyer on a property for around $450K. The seller bough the property at a trustee sale a month ago for about $215K. The foreclosing loan on the property at the time of trustee sale was around $490K.
Can someone explain how the seller managed to get this great deal at the auction so he could flip it in a month for $200K profit?
My feeling is fraud or collusion. right?