In every transaction, the seller of real property is required to disclose all matters known about the property that affects its value or desirability by a willing buyer. In your situation, if you were not disclosed the true facts about the transaction that you are writing about where the real estate agent made a quick profit where he or she represented that he or she was the owner when you entered into the contract but was not and made a quick flip of the property, you may have grounds for a rescission of the purchase based upon concealment or a rebate of your purchase price if you wish to keep the property.I suggest that you consult with an experienced real estate attorney about your situation. You also might wish to explore making a complaint with your state's department of real estate against the real estate agent that you bought the property from.