Beware the sly tactics agents and developers use to sell
In a cooling real estate market, there is a glut of properties that nobody wants but agents and developers need to get rid of.
Some selling agents and property marketers are resorting to shady tactics to trap unsuspecting buyers using deals that sound “too good to be true”.
Miriam Sandkuhler, CEO of Property Mavens, revealed the dodgy strategies that buyers need to be aware of.
Buyers underestimate the complexity of buying property, making themselves an easy target for agents and developers who swoop in to take advantage of inexperienced buyers.
Sandkuhler said real estate agents will get creative with their tactics when they need to sell a poor performing property which they know is not going to see much capital growth or good income. Read more here
Homes with all the mod cons lead the way in Melbourne’s weekend auctions
Contemporary homes offering all mod cons were big winners at Melbourne’s weekend auctions, with one newly built Hawthorn East house topping its reserve by $420,000. The two-year-old home on 596 square metres at 53 Leura Grovebucked the trend to low bidder numbers at metropolitan auctions when five would-be buyers duked it out in front of a crowd of 60.
Buyer’s advocate Miriam Sandkuhler from Property Mavens said the four-bedroom property, quoted at $3.1 million to $3.4 million, was declared on the market by Marshall White at $3.5 million. She said a mix of downsizers, foreign buyers and local families then pushed the home to a “surprising” sale price of $3.92 million, with a Melbourne family winning the day. Read more here