Post to Facebook on 25/3/2020 8:33 AM
Commenting on “Real estate auctions banned from midnight Wednesday in coronavirus crackdown”
https://www.domain.com.au/news/real-estate-auctions-banned-from-midnight-wednesday-in-coronavirus-crackdown-943590/
Commenting on “Real estate auctions banned from midnight Wednesday in coronavirus crackdown”
https://www.domain.com.au/news/real-estate-auctions-banned-from-midnight-wednesday-in-coronavirus-crackdown-943590/
Just as I predicted - no auction on site or in a room, and also no open-for-inspection as well. It does not matter even if social distancing is adhered to.
In order to remove any ambiguity, the word property hereafter will refer to a building for dwelling. I am not confident and brave enough to buy a property based on virtual tour, neither shall I participate in an online auction. There are too many things and unknowns need to be considered.
In a way, a building is a “living” structure. When you walk into a house, you do have certain feeling whether you like it or not. This has nothing to do with the architectural design or the arrangement of furniture. You may have that love at first sight affinity.
Buying online does not give you that feel. You are buying just for the look presented in digital format, which can be distorted or doctored easily. In a way, it is similar to “buying” a mail order bride from Russia, or some Asian countries.
There are scammers out there who are ready to take money from the inexperienced, unsuspecting and obviously “greedy” buyers. It happened before that Australian buyers bought New Zealand properties online only to find that the properties never existed.
At an auction, on site or indoor, you can sense whether the bidders are genuine or dummies. How does one know that a dummy bidder is not among the genuine ones to push up the price? In the first place, there is no way to challenge or confront the auctioneer that the advertised range is underquoted?
It is important to note that different states may have different real estate rules and regulations.
Thank you for reading. Take care.
In order to remove any ambiguity, the word property hereafter will refer to a building for dwelling. I am not confident and brave enough to buy a property based on virtual tour, neither shall I participate in an online auction. There are too many things and unknowns need to be considered.
In a way, a building is a “living” structure. When you walk into a house, you do have certain feeling whether you like it or not. This has nothing to do with the architectural design or the arrangement of furniture. You may have that love at first sight affinity.
Buying online does not give you that feel. You are buying just for the look presented in digital format, which can be distorted or doctored easily. In a way, it is similar to “buying” a mail order bride from Russia, or some Asian countries.
There are scammers out there who are ready to take money from the inexperienced, unsuspecting and obviously “greedy” buyers. It happened before that Australian buyers bought New Zealand properties online only to find that the properties never existed.
At an auction, on site or indoor, you can sense whether the bidders are genuine or dummies. How does one know that a dummy bidder is not among the genuine ones to push up the price? In the first place, there is no way to challenge or confront the auctioneer that the advertised range is underquoted?
It is important to note that different states may have different real estate rules and regulations.
Thank you for reading. Take care.
