• Login:
Welcome, Register Here
follow PropertyTalk on facebook follow PropertyTalk on twitter Newsletter follow PropertyTalk on LinkedIn follow PropertyTalk on facebook
Page 5 of 5 FirstFirst ... 3 4 5
Results 41 to 45 of 45

Thread: Cry Me A River

  1. #41
    Join Date
    Sep 2007
    Location
    Auckland
    Posts
    8,305

    Default

    Yeah franchisors never step up to make consumers whole when a franchisee goes under.

    We see it often with the building companies.

    So when dealing with a company like this, you have to remember you're dealing with a small mum and dad business.
    Squadly dinky do!

  2. #42
    Join Date
    Jul 2017
    Posts
    267

    Default

    FYI

    Buyer made $700k overnight, vendors say real estate agent helped house flip

    Susan Edmunds18:01, Apr 01 2019

    An Auckland family trust that sold a house for $1.85 million to a buyer who then sold it a month later for $2.55m is taking legal action against its real estate agent.


    The Wild family claim real estate agent Martin Honey and Pure Realty breached the Fair Trading Act, and claim there was a breach of contract. The family trust wants $700,000 in damages.


    A statement of claim filed to the high Court in Auckland said Honey was negligent and breached fiduciary duties related to the 2016 sale of a Royal Oak home.

    Honey and Pure Realty denied all allegations.

    The property was lived in by a Ms Wild, who was a single mother. Wild said that, in March 2016, she contacted real estate agent Honey about listing the property for sale. She had seen another she wanted to buy in Grafton, and said she told him she needed the best price possible for her house.

    Wild signed an agreement to purchase a Grafton property for $1.8m with settlement on June 9. The deal was conditional on selling her existing house for $2m.


    She claimed Honey presented her with an offer of $1.7m from Li Yi Tang, whom she knew as Louisa. The buyer had visited with Honey before the property was on the market and again later, with a person who was believed to be Ron Hoy Fong, a controversial property investment coach who helps people make money out of trading. Her offer was rejected.


    Wild was then told there had been two unconditional offers received on the Grafton house she wanted to buy, and she had four days to go unconditional with her offer.


    She told Honey she would look at bridging finance and did not want to undersell her house.


    An email was sent to everyone who had expressed interest in the Royal Oak property, telling them the vendors' circumstances had changed and offers should be presented in two days.


    An open home was held and Honey told Wild there was only one person interested in the $1.7m-plus price bracket.
    The family said Honey told them there was no point having an auction.


    Another offer was presented from Yan Rong Ren, whom the WIlds said Honey led them to believe was also Louisa, which he denies. It was for $1.85m.
    The family trust claimed Wild told Honey the price was below what she thought the house was worth and she didn't want to accept it.


    He told the family the house had been marketed well, and there were no other offers and he had been able to talk the buyer up from $1.7m to $1.85m, the claim said.


    The offer was accepted, with a clause that said settlement could be delayed until July 29, from June 9, with payment of $10,000.


    Another buyer, Yan Mei Li, was then nominated to purchase the property. The Wilds said Li was known to Min Yu Fang, an employee or licensee of Pure Realty.


    Settlement took place on July 29, and the property was immediately listed for sale with Pure Realty again.


    It was then sold at auction on August 28 for $2.55m.


    The family claim Wild wasn't told there was another purchaser who was interested in the property. Wild said she made it clear she did not want to sell the property to someone who would on-sell it.


    In April 2018, Honey and Pure Realty were required to answer about 70 questions under oath. The answers to 18 questions did not satisfy the vendors who wanted a court order for Honey to be subjected to oral examination - or for orders directing them to provide sworn answers.


    Honey and Pure Realty agreed to provide a further affidavit. But the application for oral examination of Honey was dismissed.


    He and Pure Realty were instead ordered to file and serve within 20 days further answers to some of the questions.





    Source: https://www.stuff.co.nz/business/111...yer-flip-house

  3. #43
    Join Date
    Sep 2004
    Location
    Hastings
    Posts
    14,833

    Default Another Virtuoso Notch in Bindi's Belt

    Controversial real estate agent Aaron Drever charged with deception
    6 May 2019
    Quote Originally Posted by Stuff
    Controversial former real estate agent Aaron Drever, who has received 12 disciplinary actions from the Real Estate Authority relating to his behaviour as an agent in West Auckland, has been arrested on charges of deception. Drever, who holds the record for the number of official censures against a real estate agent, appeared in court on May 3 on charges of deception relating to a land sale in 2016.
    Amazing what an REA licence can do for 'ethics,' eh what?
    Want a great looking concrete swimming pool in Hawke's Bay? Designer Pools will do the job for you!

  4. #44
    Join Date
    Sep 2004
    Location
    Hastings
    Posts
    14,833

    Default

    I almost tire of this. Almost.
    It pains me when Bindi pontificates about how PMs should be licensed REAs.
    A universal panacea for all tenant/PM woes, if Ms Norwell is believed. Yeah, right.

    Real estate agent who forged colleague's signature to save home has licence cancelled

    Amazing what a licence can do for REA 'ethics,' isn't it?
    Want a great looking concrete swimming pool in Hawke's Bay? Designer Pools will do the job for you!

  5. #45
    Join Date
    Sep 2004
    Location
    Hastings
    Posts
    14,833

    Default Those REA Ethics & Licence Things Just Keep Getting Better

    When is a panacea NOT a panacea?

    Real estate boss pleads guilty to 'disgraceful conduct'
    2 Aug 2019
    Quote Originally Posted by Stuff
    The former boss of a major New Zealand real estate chain could lose her agent's licence after admitting to 'disgraceful conduct' over the sale of a leaky home - just three weeks before she was due to face a Real Estate Authority (REA) disciplinary hearing. Corinna Mansell, the former general manager of Remax, had already been part of an out-of-court settlement with Te Awamutu pensioner Margaret 'Jean' Warburton over the Hamilton house Mansell sold her for $490,000 in 2015.

    The house - Mansell's former rental property - was discovered to have major weathertightness issues, and has been unoccupied since 2016. Stuff's three-part investigation, The Big Leak, revealed how Mansell passed up five opportunities to disclose that the house had been diagnosed as leaky and had undergone major repairs before she bought it.
    Want a great looking concrete swimming pool in Hawke's Bay? Designer Pools will do the job for you!


 

Thread Information

Users Browsing this Thread

There are currently 1 users browsing this thread. (0 members and 1 guests)

Similar Threads

  1. Hamilton - river road
    By xkm in forum Property Investment (NZ)
    Replies: 2
    Last Post: 03-10-2016, 09:54 PM
  2. Who's going to buy shares in Mighty River Power?
    By firsttimecaller in forum Other Investments
    Replies: 1
    Last Post: 16-03-2013, 12:22 PM
  3. Property developer thrown in river.
    By McDuck in forum Property Investment (NZ)
    Replies: 2
    Last Post: 03-05-2006, 03:44 PM
  4. Huge farm plan won't hurt river say developers
    By muppet in forum Regions News (NZ)
    Replies: 2
    Last Post: 06-04-2006, 10:15 PM

Tags for this Thread

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •