"I'm Unhappy. Buy Back My IP For What You Sold it to me for!"

[grand dad]

"This is a great deal I have found for you. You better hurry and sign up the contract before someone else does. What are you waiting for - you can't go wrong in the long run. Property always appreciates and this one is a gem"

An interesting story for anyone who is going to rely on others for advice.

http://www.news.com.au/realestate/i...ack-dud-property/story-fndbarft-1226775345110

 

[sanj]

holy moly!

"TIC received $13,900 commission from the developer on Ms Bouton's buy - 4.6 per cent of the price"

 

[Ausprop]

4.6 for this sort of marketing is not completely unreasonable, back in the day we use to run them thru at 7.7

 

[Andrew_A]

Well they shouldn't be allowed to do it, but somehow seem to persist year after year, makes you wonder.

 

[Aaron Sice]

Meh. Someone didnt do their DD. Now they are crying over some kind of 'guarantee' of growth.

"....ah, im a single mum wif a daughta...."
"....actually, I really dont know...."
"....I think its environmental, I think its to do with living in a big city, I think its lifestyle...."

 

[grand dad]

Meh. Someone didnt do their DD. Now they are crying over some kind of 'guarantee' of growth.

"....ah, im a single mum wif a daughta...."
"....actually, I really dont know...."
"....I think its environmental, I think its to do with living in a big city, I think its lifestyle...."

Cmon Aaron. Spruikers should stand by their promises, don't you think?

They said they'd buy it back if customers were not satisfied.

 

[redwing]

4.6 for this sort of marketing is not completely unreasonable, back in the day we use to run them thru at 7.7

I thought TIC operated on 6%?

Their definition of an investment club differs to the below, however, they have many ardent supporters

What is an investment club?

An investment club is a group of people who pool their money to make investments. Usually, investment clubs are organized as partnerships and, after the members study different investments, the group decides to buy or sell based on a majority vote of the members. Club meetings may be educational and each member may actively participate in investment decisions.

 

[Aaron_C]

3 bites at the cherry - the sale, the finance and the property management.

 

[willair]

Cmon Aaron. Spruikers should stand by their promises, don't you think?

They said they'd buy it back if customers were not satisfied.

You have to wonder how they sleep at night,with the intricate web of links some work under,they would also be a incentive for the maintenance,lawn services,smoke alarms yearly checks,the list is endless..

 

[sanj]

4.6 for this sort of marketing is not completely unreasonable, back in the day we use to run them thru at 7.7

7.7????

Can you pls elaborate?

 

[Aaron Sice]

Cmon Aaron. Spruikers should stand by their promises, don't you think?

They said they'd buy it back if customers were not satisfied.

of course, a man's integrity is only as good as his kept promises.

my point is we have a highly publicised spruiker and a jane average looking for publicity.

no matter what happens, it'll end in tears for all of them.

puts eyes on screen advertising, thats for sure.

 

[BayView]

At least Old Kev is a snappy dresser.

I think the lady is unlucky, but no one can promise any cap growth of any description.

Old Kev probably should do the right thing and buy back the place for what she paid for it as he said he would.

He looks like some old duffer down at the local public bar talking shoit all day and trying to score free beers off folks.

He should be punched up just for wearing that stupid shirt and slippers. What a doink.

But, at the end of the day, if she doesn't sell, she has no issue, and no one made her buy anything.

Life can be unfair, I've found.

Suck it up, sister.

 

[Perp]

Cmon Aaron. Spruikers should stand by their promises, don't you think?

They said they'd buy it back if customers were not satisfied.

What's the source for this promise? (I'm not suggesting it doesn't exist, just that I can't find it.)

 

[Ed Barton]

What's the source for this promise? (I'm not suggesting it doesn't exist, just that I can't find it.)

Me neither. All I saw was he's done it before. Therefore the buyer believes he should do it again.

TIC and Kevin Young have been in the news a bit with law suits. Some suing him. Some cases him suing others.

The drop1 in price doesn't seem that unreasonable for a new development in outer Brisbane over that time period compared to how the BNE market has performed over the same period.

1 - The article's not that clear what the price drop has actually been.

 

[Perp]

Me neither. All I saw was he's done it before. Therefore the buyer believes he should do it again.

To clarify, I am suggesting no such promise is made by TIC, actually. If it were, they'd go broke during downturns.

 

[MTR]

No promises made, not in writing anyway

This is just another company that can make money from people who think they can not do it themselves, fear they may get it wrong, people who want someone to hold their hand.

TIC to the rescue, their mentor to guide them through the deal and TIC computer projections to confirm all is good.

What can I say, feel sorry for the person in question, however there is so much information on the net, you would think people would research the company in the first instance.

MTR

 

[Deltaberry]

Most OTP things have a commission higher than that.

Not sure why so many people sink so much money into a drain hole they obviously don't understand.

Besides, if these people weren't so greedy, they wouldn't have lost money. I don't see them volunteering to pay more taxes or share their wealth with the poor when they make profits.

 

[Waldo]

Simple from my perspective - if she made a profit was she going to give it to the developer/spruiker? Of course not.

So why should she get a refund if it goes the opposite direction.

Its like me playing on the sharemarket, then asking the broker if he will reinburse me for my losses once things go down.

 

[Shaneelastic]

Ive been quoted 6% to sell developments. I wont say my profession. I declined.

 

[Deltaberry]

Simple from my perspective - if she made a profit was she going to give it to the developer/spruiker? Of course not.

So why should she get a refund if it goes the opposite direction.

Its like me playing on the sharemarket, then asking the broker if he will reinburse me for my losses once things go down.

Exactly. If you don't want to lose money, don't be so greedy.

Gordon Gekko once said, greed is good. Except he forgot to add, only if you have a brain.