Industry News

Oklahoma real estate sales under scrutiny

Loan amounts higher than normal

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The Oklahoma Real Estate Commission is looking at several home sales handled by sales associates for RE/MAX Associates in Edmond and Century 21 A Northwest Realty in Oklahoma City, a commission spokeswoman confirmed Friday.   In the transactions under scrutiny, buyers obtained loans for more than the actual asking price of the homes, the Daily Oklahoman reported.   Questions were raised during a routine audit by the Oklahoma Real Estate Commission concerning the sales in Edmond's upscale Oak Tree neighborhood, the spokeswoman said, confirming the report by the Daily Oklahoman.   An associate for RE/MAX Associates represented the sellers and an associate for Century 21 A Northwest represented the buyers, the spokeswoman confirmed Friday.   The homes sold at prices above those fetched by comparable homes, the Daily Oklahoman reported. Though this is not unusual in a hot housing market, in the transactions under scrutiny, buyers obtained loans for more than the actu...