RMAAParticipant@roslyn77Join Date: 2004Post Count: 21
We have some friends who signed a contract to purchase a block of land OTP.
Their circumstances have changed, titles keep being delayed, so they made the decision to sell.
They actually had it promoted to them by the land sales agent that they can help as they have plenty of people happy to do an ‘under the table’ deal of taking over the contract via nomination and then doing a cash deal on the side.
I know that they have proceeded via this manner and I know in which estate they purchased from.
Would this be something people would report to Consumer affairs (Vic) or MYOB?
- This topic was modified 2 years, 2 months ago by RMAA.
Email MeEthan TimorParticipant@ethantimorJoin Date: 2016Post Count: 282blackhotelParticipant@blackhotelJoin Date: 2010Post Count: 139
I’m one of these buyers. I was a buyer of a unit in NSW that was previously sold off-the-plan and then on-sold to me with an amount of cash given to the seller, as you say ‘under the counter’. Just because someone is paying in cash it’s up to the seller to declare this cash and maybe they do. The seller I dealt with was a business man and he declared this cash as income into his business (prior to GST introduction). My motto is – what goes around comes around when thinking about reporting anything or anyone to the authorities.TerrywParticipant@terrywJoin Date: 2001Post Count: 16,190