It’s interesting what people do with “advanced” property strategies, such as Options.
Some people have been buying properties, then giving people the “option” to buy them, charging them hefty weekly payments and then leaving them hanging at the end as the valuations aren’t up to scratch.
This is not helping people…
This is screwing people over…
Be careful who you step on as it comes around in the end…..
This is from the WA Commerce Department Official Media Release:
Penalty and injunctions for rent to buy property promoters (Patricia and Bryan Susilo)
Issue Date: Wednesday, 5 March 2014
Two promoters of rent to buy property schemes in WA have been ordered to pay a total penalty of $29,500 by the Supreme Court for misleading and deceptive conduct in their dealings with prospective buyers and sellers.
Patricia Mirawati Susilo and Bryan Artawijaya Susilo, sister and brother of Karawara, were ordered to pay $17,500 and $12,000 respectively on 27 February 2014 after admitting to their misleading and deceptive conduct, and Ms Susilo further admitted to operating as a real estate agent without a licence.
Both also have to pay total costs of $8,000.
Counsel for the Commissioner for Consumer Protection told the court that the misleading and deceptive conduct related to the advertising and promotion of rent to buy arrangements on several properties between late 2010 and early 2013.
It’s one thing to make money guys, but everyone has to win in the end!
Til next exhilarating chapter of property,