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IMO it is attorney time.
I purchased my Mom's house in 2019 and went through a real estate attorney. We were advised to buy it for FMV (fair market value), which we did.
If your Mom needs to apply for Medicaid within the next 5 years (depending on what state she lives in the "look back" period differs), then this sale may cause a problem for her to qualify. If this becomes the case, then your sister will be paying for her care personally, or she may need to give up guardianship. Best to consult with an elder care attorney or Medicaid Planner for her state.
Regarding inheritance... again, you should pose this question to an elder law attorney. You may need to prove that your sister committed financial abuse/fraud against her mother as guardian by selling the house at such a low price, because this is NOT acting in your Mother's best interests.
If the house is sold before your Mom passes and the funds were allegedly used to pay for her care, then I'm not sure what you can do about it. Talk to a lawyer before too much time passes after the house sale. You will be paying for the consult out of your own pocket.
A Will is only good if there is an estate. If Mom needs to liquidate her assets for her care, there is nothing to inherit. Wills are for "just in case".
Hopefully if they try, the atty will set them straight.
Also, if in future your mother needs Medicaid, it could affect that too.
But there are various ifs and buts before you can do anything effective to prevent the sale (if that's what you want) or insist on your brother's paying the correct price (if that's another option). Your mother may have dementia but that doesn't necessarily mean she didn't want your brother to have the house or isn't happy with this arrangement, for example. And then again, how much below its realizable value is he planning to pay? Are they in a hurry to make the sale because they need cash for your mother's care needs?
So - there are questions, but your sister may have acceptable answers. Ask by all means but focus on your mother's wishes and her best interests. I'm sure it's not the case with you but it looks ugly when all a person seems bothered about is inheriting as much as possible.
Please don’t tell me you’re someone who does nothing to help, and waits around for inheritance.
In your question I don’t hear any concern for your mom, nor for your mom’s care, nor concern for whether sister is using the sale’s money appropriately for mom’s care. I only see: “I know she’s not dead yet, but what about my inheritance?”