Clifton Park, NY asked in Real Estate Law for New York

Q: How do I know if I qualify in a class action lawsuit?

I've heard that there's a class action lawsuit against some real estate businesses for artificially increasing their commissions. I bought a house in 2021. It went on the market for $230K and I agreed to pay that since it was a house I really wanted. A few days later, my agent phoned and said they had a higher offer, so if I wanted the house I would have to make a better one. This went on for several more times and I ended up paying $288K. I always felt that they were just saying they were getting better offers to drive up the price, but I have no way to prove it.

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1 Lawyer Answer
Steven Warren Smollens
Steven Warren Smollens
  • New York, NY
  • Licensed in New York

A: It seems your lawyer did not negotiate very well. One could say that as long as the Seller believed you would pay more than 230,000, they returned to your broker with the nonsense that someone made a better offer. They could have taken the better offer. For all you know, you were bidding against your new offer.

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