Prof. Prentiss Cox ’90 Quoted in the Baltimore Banner About Red Flags in a Real Estate Sale
Prof. Prentiss Cox ’90 was quoted in the Baltimore Banner about two sisters on disability, and with limited funds, sold their home to a family friend with the intent to rent back the home. The purchase price was for less than half of what they originally paid, but they were desperate to stay in their home. After a few months, the purchaser moved to evict them. Real estate professionals and consumer advocates say the case appears to be a cautionary tale about family members who desperately wanted to stay in their home but made an ill-advised move that will likely force them to move out. Prof. Cox said that a situation in which someone buys a home for far less than its current value is “an obvious red flag for an unfair transaction.”