Australia

3616 readers

174 users here now

A place to discuss Australia and important Australian issues.

Before you post:

If you're posting anything related to:

The Environment, post it to Aussie Environment
Politics, post it to Australian Politics
World News/Events, post it to World News
A question to Australians (from outside) post it to Ask an Australian

If you're posting Australian News (not opinion or discussion pieces) post it to Australian News

Rules

This community is run under the rules of aussie.zone. In addition to those rules:

When posting news articles use the source headline and place your commentary in a separate comment

Banner Photo

Congratulations to @Tau@aussie.zone who had the most upvoted submission to our banner photo competition

Recommended and Related Communities

Be sure to check out and subscribe to our related communities on aussie.zone:

Plus other communities for sport and major cities.

https://aussie.zone/communities

Moderation

Since Kbin doesn't show Lemmy Moderators, I'll list them here. Also note that Kbin does not distinguish moderator comments.

Additionally, we have our instance admins: @lodion@aussie.zone and @Nath@aussie.zone

founded 1 year ago

MODERATORS

lodion@aussie.zone

Fluid@aussie.zone

bestusername@aussie.zone

eatham@aussie.zone

Cold calling real estate agents - is there a law against it? (aussie.zone)

submitted 10 months ago by trk@aussie.zone to c/australia@aussie.zone

79 comments fedilink hide all child comments

Some real estate dickhead just rang my mobile (which is not advertised anywhere) saying they were "just in the area" and wanted to do an appraisal on a house we own in .

It's an agency we don't use for any purpose, have never used for any purpose, and have never approached for any reason.

Is there some sort of legal issue with some smarmy sales knob looking up property owner details and cold calling them?

Makes me feel all gross that their grubby mitts are pawing through my deets somewhere in the hope of being able to stick a tongue up my bum and get a taste of some back door cash.

you are viewing a single comment's thread
view the rest of the comments

[–] Rivalarrival@lemmy.today 4 points 10 months ago (1 children)

The simplest answer is that the landowner could expect a higher ROI from issuing a land contract or private mortgage than from selling outright. If they do decide to sell, it's going to be to an owner-occupant, or another investor willing to "partner" with a tenant/buyer to secure that owner-occupant credit. The Non-occupant "penalty" should be high enough to kill the traditional landlord's ROI.
I don't think I am taking away the deposit. Where are you getting that?

The landowner is "gambling" just as much with a land contract as they would be with a traditional rental.

The private mortgagee can insist on a 20% down payment from the mortgager, just like a conventional mortgagee.

[–] Nath@aussie.zone 2 points 10 months ago (1 children)

Land contracts build tenant wealth and drive people toward home ownership. 20-year-old you, with no capital and working a minimum wage job, should be able to enter into a land contract and start building wealth.

20-year-old me had no capital, remember? The shabby apartment I lived in back in the 90's was worth less than $100k, but 20% of whatever that number was would still have been well beyond my means.

[–] Rivalarrival@lemmy.today 1 points 10 months ago* (last edited 10 months ago)

A land contract does not typically require a down payment. It usually just requires monthly payments. If there is an initial deposit, it's more comparable to a security deposit than a down payment.

If 20-year-old you had sufficient capital to rent, you had sufficient capital to enter into a land contract.