Aussie real estate broker’s dream home sale has turned into a nightmare after she was unable to buy a home for the first time in her life.
The sale of the 2,600sq m (17,000sq ft) property on the North Shore in south-east Queensland in the summer of 2016 came to an abrupt halt when the sale agent failed to get the required documents.
“The property went up for sale in September 2016, but when I got it in to the agent, he didn’t get it and it didn’t show up on my bank account,” Ms Molloy said.
“I was devastated, so I contacted my bank and got the documents.”
It was only when Ms Molly was contacted by the agent she discovered that he had left the bank account without paying her a deposit.
“He didn’t do anything wrong, but it was frustrating,” she said.
The broker, who declined to be named, said the bank did not offer to replace the bank statements, as they were all signed in the name of the broker.
“There’s no money to pay them, so the bank told me that they were going to pay for them,” she added.
Ms Mollox said she had been living with the property for seven years and had been renting it for a year.
“My husband and I were having problems with rent,” she explained.
“We’ve been in and out of the house for two years and we’re struggling with our rent and we’ve been living on it for so long.”
But the real estate agent did not get the paperwork to replace those documents.
Ms Lolly said she was “shocked” when she found out the broker was not getting the necessary documents, adding she was now worried about the house.
“It’s a very nice home, it’s not something I would ever want to sell,” she lamented.
“So I’m just so shocked that it has all gone wrong and I don’t know what to do.”
If the buyer is not able to pay, I don.
If he’s not able pay, he’s gone.
“The broker told ABC Radio Brisbane the process to replace all the bank accounts was time-consuming and would cost about $100.”
That’s going to take a while. “
You have to get all the accounts, and then you’ve got to go through all the details.”
That’s going to take a while.
I would say that’s a long process.
“When I first contacted them they said they were not responsible for the buyer.”‘
We’ve never had this before’A spokesperson for the bank, who did not want to be identified, said a “proper audit” had taken place and “no other funds were transferred”.
“We are aware of this situation and will be providing support to Ms Moyle,” they said.
A spokeswoman for the Australian Property Institute said the broker should not have been able to get his bank statements.
“Unfortunately, there has been no formal audit of the seller’s bank accounts and it’s likely the buyer would have had a financial conflict of interest if they had transferred the money,” the organisation’s executive director, Kate Wilson, said.
Ms Wilson said if a bank were to have a financial issue with a prospective buyer, the buyer might be able to transfer funds to another bank.
“This is not a financial problem,” she told ABC Brisbane.
“All of the issues we have with banks, it is a lack of trust between buyers and sellers.”
But we don’t have a legal obligation to make these payments to the seller.
“A spokeswoman from the Real Estate Council of New South Wales (RENSA) said if the buyer were to “fail to make the payments to a bank, then the RENSA will have to take action against the bank”.
Ms Wilson says the broker’s behaviour should not be condoned by anyone.”
Everyone should be able see the bank statement of the property,” she warned.”
To say this is acceptable is really naive.
“A spokesperson from the Queensland Land and Environment Court (L&EOC) confirmed the bank had been notified of the “problems” but did not have any details of how the bank’s money had been transferred.”RENISA is in regular contact with the buyer to address any concerns, and as with all other banks, we will be conducting a full investigation to determine the circumstances of the sale,” the spokesperson said.