Sister banshee called me with her woes of looking for property that I thought I’d share with Rioters.
I’ll stop short of identifying the agent but she looked at a very popular unit in Deakin which is currently being rented for a phenominal all-inclusive rent. Based on the pricing of the other units around it and the quality she described the asking price is in a reasonable region but the agent is expecting to sell it for “well above asking price” and explained that all parties would be considered at the asking price, then they would go up in $5k increments until they find the buyer.
Now I’m no lawyer but that sounds dodgy to me, like a silent auction perhaps where interested parties keep getting told that someone else is willing to pay more so are expected to keep jacking up their offer.
Another agent said if they had several offers under consideration they would ask everyone to complete “best and final” offer statement which also identified where they get the money from etc to ensure that the offer won’t fall through. That sounds fair and reasonable and the other agent sounds like a complete scammer.
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So tell me rioters is the practice identified above illegal or just the dodgiest legal method re agents use in Canberra?