Hi All,
Here's a good click bait article....
NZH reports 2 properties next door to each other - sell for a fair market price then 3 days later both sell for $300K more.
Source
Different Agencies were used for the sales, a fair market price paid to the original vendors. Developers over paid for the properties. Or is something more sinister going on?
Harcourts - say $1.15m - $1.25m was market value based on recent sales; Barfoot said $1.5m - $1.6m was the market value. Which was it?
I think both were correct....as single property sales they probably were worth $1.25m - however collectively they were worth what the developer paid. I also think a lot of planning went into the transactions - that they didn't just occur by coincidence - however as the article says it will be hard to prove otherwise - as the homework has been done - T's crossed and I's dotted.
cheers,
Donna
Here's a good click bait article....
NZH reports 2 properties next door to each other - sell for a fair market price then 3 days later both sell for $300K more.
Source
Different Agencies were used for the sales, a fair market price paid to the original vendors. Developers over paid for the properties. Or is something more sinister going on?
Harcourts - say $1.15m - $1.25m was market value based on recent sales; Barfoot said $1.5m - $1.6m was the market value. Which was it?
I think both were correct....as single property sales they probably were worth $1.25m - however collectively they were worth what the developer paid. I also think a lot of planning went into the transactions - that they didn't just occur by coincidence - however as the article says it will be hard to prove otherwise - as the homework has been done - T's crossed and I's dotted.
cheers,
Donna
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