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The unlicensed broker is taking the units from the seller with power of attorneys. They are telling the seller that it is worthless and often charging the sellers to get rid of the units. If the unit was bought by the developer, and the check was sent to the seller, the seller would know they had been scammed, and the unlicensed broker may not get their check. That is why the unlicensed broker may forge right of first refusal docs. They also own the closing company, so they have no one to oversee the closing process. Note, it is realy a closing company, not escrow company, as it is not third party.