Can't believe the agents positive comment about this...

Can't believe the agents positive comment about this sale?

http://www.goldcoast.com.au/article/2011/11/28/369381_gold-coast-real-estate.html

Mansion sold at $4 million loss. Denis Doherty | November 28th, 2011

MULTI-millionaire pub owner and developer Robert Fraser-Scott has sold his Sovereign Island mega-mansion for less than half what he paid for it four years ago.

Mr Fraser-Scott, who has placed a swathe of hotel assets on the market in the past year including Upper Coomera's Lost City Tavern, The Boathouse at Coomera and Yatala's Warehouse Tavern, sold the Knightsbridge Pde West property for $3.5 million at auction on Thursday.

The deal means the Fraser-Scotts have lost nearly $1 million a year since buying it, or about $2800 a day.

The mansion, named Westley Manor, sits on 2369sqm.

He and wife Laurie bought the property from builders Rob Smith and wife Susan Chudley-Smith for $7.36 million in April 2007 just before the global financial crisis.

It had six bedrooms, seven bathrooms, a mooring able to take two 18m boats and two jet-skis, a 1500-bottle wine cellar, drive-through underground parking for 12 vehicles and resort-style grounds.

The mansion also featured a two-sided wall aquarium between the living and media rooms.

Ray White Surfers Paradise Group principal Andrew Bell said the sale was evidence buyers were re-entering the Coast's property market after four years of price correction.

The property was one of 16 offered for auction by the group on Thursday, which resulted in a clearance rate of 55 per cent and sales of more than $11 million.

End of article. ---------------


We cringe when we see Ray White agents & would never attend one of those RWG Group Auctions ever again after our experience last year - even now we still feel like we should get therapy! We were the only bidders on a house, yet we had 2 agents screaming in our faces trying to get us to bid $100k higher than our own bid, the auctioneer then passed it in commenting 'fat chance you buying it for that' so we walked outside where the 2 agents followed us & had us both pinned up against the wall again yelling in our faces to go back in there & open it up again with a higher bid - they would both take a step back then lunge forward at us again right in our faces like pig dogs several times, all the while screaming at us asking why we don't bid higher &saying we know you could spend more & what would we pay to buy it right now etc etc etc...!

Disgraceful & really intimidating behaviour! Wish we had it all on video as it would be a hit on Youtube for sure!
Now we know why they guide you to where they want you to sit & agents line the walls all around their victims.
One of the agents we recognised was a top salesman for the mansions on Sovereign Islands which is where the house mentioned above is located, so reminded me of this event.

The main agent misled us, wasting our time for weeks telling us we'd get the house on auction day for the price we wanted. We'd told him the decor & layout didn't suit us so we'd have to outlay lots of $$ to change it the way we wanted so we were not going over our budget, which he knew!

Anyway...beware of closed room auctions - they will use any lie or ploy just to get you in to the Auction room knowing they will use these bulldozing tactics on people to try to make vulnerable buyers blow their budgets.
I think these auction methods should be banned or at least rules changed as also many times buyers don't always have time to get building or termite inspections before & if you do it tells both agents & owners you are interested so they can work on you as you just coughed up about $400 - to me it is a method to sell a bad house with problems & get away with it as agents have a clause about taking no responsibilty for the BS they waffle on to you with.

Notice also that at open homes when agents (I so hate those fake smiles), slyly ask you which location you live in for statistics or some other BS reason, is because they use your name off their list & the suburb you have given them to look up exactly where you sold your house & how much you got for it. Not sure if it also can show if you had a mortgage or not (who knows what else they have access to) but I've had a few agents tell me they have looked up the house we sold & made comments about 'are we looking for same modern style again etc' - an invasion of privacy really but this RE mob make their own rules!

Sorry...I always end up writing long posts but that is because I have multitudes of stories to offload - just hope most find something of interest in them. Adios!