Homebuyers left with ‘no chance in hell’ as underquoting leaves hopes dashed

Homebuyers left with ‘no chance in hell’ as underquoting leaves hopes dashed

After all the hard work of saving that deposit, you've still got quite a journey to go on before owning your first home. Here's what you need to do to finally buy it. After all the hard work of saving that deposit, you've still got quite a journey to go on before owning your first home. Here's what you need to do to finally buy it.... Potential homebuyers are turning up to auctions with “no chance in hell”, as underquoting agents use a loophole to avoid disclosing prior offers, market watchers way. Would-be buyers have been left so frustrated chasing properties that end up selling far beyond their reach that they’ve shelved their home ownership aspirations altogether, agents have told NCA NewsWire. Propertybuyer CEO Rich Harvey said potential Sydney buyers were walking away after being angry and annoyed at being priced out. “I’m seeing a bit of pushback from the buyers that are going, ‘You know what? I just don’t want to participate in this market, I’ve had enough’,” he said. Underquoting is the illegal practice of falsely advertising property …
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