Australian Politics Forum - Dirty Tricks Selling Houses

John Smith

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Re: Dirty Tricks Selling Houses - Underquoting rampant
Reply #45 - Aug 12^th, 2025 at 2:03pm

Sir lastnail wrote on Aug 12^th, 2025 at 9:16am:

John Smith wrote on Aug 11^th, 2025 at 7:47pm:

Sir lastnail wrote on Aug 11^th, 2025 at 3:41pm:

John Smith wrote on Aug 11^th, 2025 at 1:06pm:

Bobby. wrote on Aug 11^th, 2025 at 12:54pm:

But they don't advertise places as bulldozer jobs.

thats because not everyone is as useless as you and many are quite happy to fix things that aren't quite right. Many buyers actively search out these properties because they can get them cheaper.

but how good is the fix-up job ? Unless you are in the know you could be buying a lemon and later spending another 50k or more.

so get a building inspection Roll Eyes

and waste money only to be outbid at the auction. Why not provide a building report to prospective buyers like a road worthy on a car ?

Not sure if you understand how it works. No one forces you to bid more then you think it's worth

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Sir lastnail

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Re: Dirty Tricks Selling Houses - Underquoting rampant
Reply #46 - Aug 12^th, 2025 at 4:59pm

Leroy wrote on Aug 12^th, 2025 at 1:57pm:

Sir lastnail wrote on Aug 12^th, 2025 at 1:30pm:

Leroy wrote on Aug 12^th, 2025 at 9:26am:

Sir lastnail wrote on Aug 12^th, 2025 at 9:16am:

John Smith wrote on Aug 11^th, 2025 at 7:47pm:

Sir lastnail wrote on Aug 11^th, 2025 at 3:41pm:

John Smith wrote on Aug 11^th, 2025 at 1:06pm:

Bobby. wrote on Aug 11^th, 2025 at 12:54pm:

But they don't advertise places as bulldozer jobs.

thats because not everyone is as useless as you and many are quite happy to fix things that aren't quite right. Many buyers actively search out these properties because they can get them cheaper.

but how good is the fix-up job ? Unless you are in the know you could be buying a lemon and later spending another 50k or more.

so get a building inspection Roll Eyes

and waste money only to be outbid at the auction. Why not provide a building report to prospective buyers like a road worthy on a car ?

Won't work Jasin, if you are buying a car would you rely on a mechanical report from the seller.

Then make them government inspectors not private enterprise Wink

We pay enough stamp duty and other taxes so the consumer deserves a lot more than the government taking money from them. In some countries in Europe these reports are mandatory and a lot of the dumps being sold here would not pass muster in these other countries Sad

Have you traveled much?.

didn't have to look very far Wink

Quote:

In Australia, mandatory building and pest inspections for property sales are not universally required, but there are some notable exceptions. The ACT (Australian Capital Territory) is the only Australian jurisdiction where building and pest inspections are mandatory before a property can be sold. Other states like New South Wales and Victoria strongly recommend them, but they are not mandatory. In these states, while not compulsory, it is common practice for buyers to arrange inspections to identify potential issues.
Here's a more detailed breakdown:

ACT (Australian Capital Territory):
Mandatory building and pest inspection reports are required before a property can be sold.

New South Wales:
While building and pest inspections are not mandatory, they are highly recommended and often arranged by the buyer. Sellers are required to disclose any known defects or issues with the property, according to NSW Fair Trading.
Victoria:
Similar to New South Wales, building and pest inspections are not mandatory but are a common part of the buying process.
Queensland:
Only state requiring licensed residential building inspectors, according to the ADF Consumer Centre.
Other Australian States and Territories:
Recommendations for inspections vary, but they are generally not mandatory.

In summary, the Australian Capital Territory stands out as the only jurisdiction where mandatory building and pest inspections are required before a property sale.

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Sir lastnail

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Re: Dirty Tricks Selling Houses - Underquoting rampant
Reply #47 - Aug 12^th, 2025 at 5:02pm

John Smith wrote on Aug 12^th, 2025 at 2:03pm:

Sir lastnail wrote on Aug 12^th, 2025 at 9:16am:

John Smith wrote on Aug 11^th, 2025 at 7:47pm:

Sir lastnail wrote on Aug 11^th, 2025 at 3:41pm:

John Smith wrote on Aug 11^th, 2025 at 1:06pm:

Bobby. wrote on Aug 11^th, 2025 at 12:54pm:

But they don't advertise places as bulldozer jobs.

thats because not everyone is as useless as you and many are quite happy to fix things that aren't quite right. Many buyers actively search out these properties because they can get them cheaper.

but how good is the fix-up job ? Unless you are in the know you could be buying a lemon and later spending another 50k or more.

so get a building inspection Roll Eyes

and waste money only to be outbid at the auction. Why not provide a building report to prospective buyers like a road worthy on a car ?

Not sure if you understand how it works. No one forces you to bid more then you think it's worth

That's not the point. People have certain expectations based on the advertised price range which usually sits below the reserve price. This smacks of misleading advertising. Otherwise, dispense with the price range because it is essentially underquoting and a gimmick design to entrap people.

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Sophia

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Re: Dirty Tricks Selling Houses - Underquoting rampant
Reply #48 - Aug 12^th, 2025 at 10:49pm

We are in middle of having sold in Queensland and buying a unit for daughter in Victoria.
When our qld house was advertised for a “make an offer” scenario.
I said I’m not sure I like that. I could get ridiculous iffers!
Then the next thing was advertised as “present all offers over $xyz”
I liked that better.
But here in Victoria, it’s advertised as $640,000 to $710,000
And I think of $640,000 right? Wrong. Agent says seller is wanting near the $710,00
So that to me, is just wrong, it’s bs, it’s just… an awful vibe.
Why bother with the lower amount at all?

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Sophia Gold Member Offline Posts: 9790	Re: Dirty Tricks Selling Houses - Underquoting rampant Reply #49 - Aug 12^th, 2025 at 10:52pm Now interest rates have been cut .25% so will this fuel a frenzy in real estate? Will it drive prices up further so as the rba is seeing inflation ramping up again only to raise it next time? Silly cycle.
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Sophia Gold Member Offline Posts: 9790	Re: Dirty Tricks Selling Houses - Underquoting rampant Reply #50 - Aug 12^th, 2025 at 10:53pm *
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John Smith

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Re: Dirty Tricks Selling Houses - Underquoting rampant
Reply #51 - Aug 13^th, 2025 at 8:31am

Sir lastnail wrote on Aug 12^th, 2025 at 5:02pm:

That's not the point. People have certain expectations based on the advertised price range which usually sits below the reserve price. This smacks of misleading advertising. Otherwise, dispense with the price range because it is essentially underquoting and a gimmick design to entrap people.

i already gave a possible solution to the underbidding.

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John Smith

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Re: Dirty Tricks Selling Houses - Underquoting rampant
Reply #52 - Aug 13^th, 2025 at 8:33am

Sophia wrote on Aug 12^th, 2025 at 10:52pm:

Now interest rates have been cut .25% so will this fuel a frenzy in real estate? Will it drive prices up further
Silly cycle.

I hope so, my place on the gc went up $200k in the last 2.5 years alone. A couple more years like this and it will have tripled in price in about 8 yrs.

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I hope that bitch who was running their brothels for them gets raped with a cactus.

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Bobby.

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Re: Dirty Tricks Selling Houses - Underquoting rampant
Reply #53 - Aug 13^th, 2025 at 8:55am

John Smith wrote on Aug 13^th, 2025 at 8:33am:

Sophia wrote on Aug 12^th, 2025 at 10:52pm:

Now interest rates have been cut .25% so will this fuel a frenzy in real estate? Will it drive prices up further
Silly cycle.

I hope so, my place on the gc went up $200k in the last 2.5 years alone. A couple more years like this and it will have tripled in price in about 8 yrs.

That's OK if you want the cash but if you want to buy back in
you'll be doing so at inflated prices and paying stamp duty too -
at 4% on $1 million - that's $40,000. Shocked

Note - I heard a story of a pensioner who sold their house
to downsize to a unit and because they had a heap of cash in their bank
they lost all their pension. Roll Eyes

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John Smith Gold Member Offline Australian Politics Posts: 78311 Gender:	Re: Dirty Tricks Selling Houses - Underquoting rampant Reply #54 - Aug 13^th, 2025 at 8:59am You're just lucky you took my advice and purchased when I told you to goober otherwise you'd now be complaining you can't afford the rent anymore
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Bobby.

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Re: Dirty Tricks Selling Houses - Underquoting rampant
Reply #55 - Aug 13^th, 2025 at 9:15am

John Smith wrote on Aug 13^th, 2025 at 8:59am:

You're just lucky you took my advice and purchased when I told you to goober otherwise you'd now be complaining you can't afford the rent anymore Cheesy

I rented a place from a friend at a low price after I sold my house.
Unfortunately the prices went sky high after I sold -
which was the opposite of what the newspapers were predicting.
When Covid hit the prices should have gone down but they went
up due to low interest loans.
I got out of it in the end but had to buy in to an inflated market
and pay bloody stamp duty.

I had to leave Melbourne for work.
My house was recently renovated and I didn't want to rent
it out and have tenants ruin it leaving me with a 20k to 30K repair job
like 2 of my landlord friends.
Thems the breaks - I'm fine now.

Not all property ideas turn out well.
One of my mates bought a cheap place - a "renovators dream" -
he got a heart attack and nearly died trying to renovate it himself.
he had a triple bypass in hospital.
10 years later it is still not fully renovated and he's received no rent from it.
It took him 9 years to get the kitchen working with all the plumbing etc.
It's still not finished and he still can't rent it out yet.
Gee whizz - it sounded like such a good idea when he bought it. Roll Eyes

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Leroy

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Re: Dirty Tricks Selling Houses - Underquoting rampant
Reply #56 - Aug 13^th, 2025 at 9:42am

John Smith wrote on Aug 13^th, 2025 at 8:33am:

Sophia wrote on Aug 12^th, 2025 at 10:52pm:

Now interest rates have been cut .25% so will this fuel a frenzy in real estate? Will it drive prices up further
Silly cycle.

I hope so, my place on the gc went up $200k in the last 2.5 years alone. A couple more years like this and it will have tripled in price in about 8 yrs.

Is it negatively geared?.

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Sophia

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Re: Dirty Tricks Selling Houses - Underquoting rampant
Reply #57 - Aug 13^th, 2025 at 10:37am

John Smith wrote on Aug 13^th, 2025 at 8:33am:

Sophia wrote on Aug 12^th, 2025 at 10:52pm:

Now interest rates have been cut .25% so will this fuel a frenzy in real estate? Will it drive prices up further
Silly cycle.

I hope so, my place on the gc went up $200k in the last 2.5 years alone. A couple more years like this and it will have tripled in price in about 8 yrs.

I’m blown away how much the property market has gone up so much just recently.
What was worth about $760k late last year has gone up almost $100k to now!
Fastest growth I’ve seen in Goldy since we started buying in 2004.

The house just sold went up more than double in 7 years!
Usually the rule of real estate is it double every 10 years…

And the rent is ridiculously high in the Goldy now.
A 3br with ensuite can get about $850 week rent!
Ours is at $710 and I’m not upping it much when time comes to renew lease… we are happy with tenant (better the devil we know) and sometimes pays to have a lower rent for that reason rather than a higher rent for a mob of unknowns.

The house just sold has a good tenant also and rent was lower than average going rate.
He will stay on with new owners as the rent just went up in Feb a little, and qld rental rules are you can only raise rent once per annum.
So he’s going to be okay until next Feb.
By then, going by how prices are going up… I would hate to guess what rent will be.

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If you put the federal government in charge of the Sahara Desert, in 5 years there'd be a shortage of sand.

Milton Friedman

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John Smith

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Re: Dirty Tricks Selling Houses - Underquoting rampant
Reply #58 - Aug 13^th, 2025 at 11:04am

Leroy wrote on Aug 13^th, 2025 at 9:42am:

John Smith wrote on Aug 13^th, 2025 at 8:33am:

Sophia wrote on Aug 12^th, 2025 at 10:52pm:

Now interest rates have been cut .25% so will this fuel a frenzy in real estate? Will it drive prices up further
Silly cycle.

I hope so, my place on the gc went up $200k in the last 2.5 years alone. A couple more years like this and it will have tripled in price in about 8 yrs.

Is it negatively geared?.

nah ... i bought it cash about 6 yrs ago

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Our esteemed leader:
I hope that bitch who was running their brothels for them gets raped with a cactus.

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John Smith Gold Member Offline Australian Politics Posts: 78311 Gender:	Re: Dirty Tricks Selling Houses - Underquoting rampant Reply #59 - Aug 13^th, 2025 at 11:06am Sophia wrote on Aug 13^th, 2025 at 10:37am: And the rent is ridiculously high in the Goldy now. A 3br with ensuite can get about $850 week rent! I'm getting just shy of $1k a week for 3 bd and ensuite
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