I sent you a private message here on BP.

Your best bet is to contact the asset manager and not BONY Mellon.

I'd bet he moved in a poor lease-option tenant and may be trying to pass his problems on to someone else.

With $16,500 in gross anual rents, your 2% rule value would be $68k which should yield you a nice flip profit.Looks like there are some things to consider here.As to the cash out refi - how about a private investor looking for better returns than 1% in their CD account?

Look for the major Private Equity/REIT players to announce BIG Residential REO take downs over the next few months.

In fact, you could go new, with an extended warranty on the washing machine to hedge your bet.

I'll be seeing a few potential private money lenders in the next few days and will be discussing the prospects of using a SDIRA to create a mutually beneficial arrangement.

If through a listing broker it will depend on what the listing broker entered on the MLS and MLS rules.In Georgia for instance on FMLS if as a broker you screw up and enter commission wrong,mistake things etc. you can be on the hook for the commission or lose access to the MLS.MLS's are sometimes controlled by REALTOR associations and other times are private entities that are non-profits or for-profit organizations.Also the brokers/agents involved it would matter if they were REALTORS or not.Generally your state's real estate commission does not handle commission disputes.They only care about license laws.The agent can argue procuring cause with the other agent but it should not stop your sale.Simply you would close and get your proceeds and the commission in question would be froze until a solution was given and signed in writing or a court order.There are so many variables to this and it is state specific.Procuring cause is a chain of events leading up to a sale of a property.If the chain is broken generally the broker/agents is not due a commission.The moral of the whole story is the buyers agent needs to learn how to protect themselves in the future.I am not going to court to get my agents commission when I only charge them a 300 flat fee as a broker.No legal advice

I would bet this building has 15,000 square feet of hard to utilize area -- warehouse space in primary retail area, second floor area, back lot, etc.

Id bet you money this isnt going to happen and is a waste of your time.