3 days ago
Barefoot Investor blasts real estate agent for huge mistake that cost Aussie homeowner thousands of dollars: 'Screwed over by amateurs'
The Barefoot Investor has taken aim at a real estate agent who allowed a botched property sale to drag on for months, leaving a pregnant mum out-of-pocket.
The furious mum, who is expecting her second child next week, wrote to Scott Pape for help after a nightmare sales process that began in early 2024.
'I've been trying to sell an investment property since early 2024,' she said in the letter published on the Courier Mail.
'A buyer came through, signed everything, and I was told the contract was unconditional.
'But they only paid $1,000, not a real deposit, and kept stalling on settlement.'
Weeks turned into months, which saw the tenants move out. Meanwhile, the mortgage repayments kept rolling in, but no rent came to offset them.
'I found a lawyer, despite the expense,' the mother said.
'I just couldn't watch that nasty person walk away free.'
But the lawyer hit a wall almost immediately after trying to find the buyer.
'The name was "Jenny Tren", but there was no ID on file and no way to trace her,' the woman explained.
'We couldn't sue. I've copped thousands in losses, two advertising campaigns, legal fees, settlement costs, months of mortgage repayments, and relentless stress.'
'I'm giving birth to my second baby next week, and I'm still lying awake at 5am thinking about this mess.'
Scott Pape described it as a 'mess' and said it sounded like the mother had been 'screwed around by amateurs who couldn't sell a sandpit'.
He was particularly scathing of the minuscule deposit and lack of identity checks.
'Seriously, a thousand bucks down and no ID?' he wrote.
'It sounds like your real estate agent thought they were flogging a Labradoodle on Gumtree, not handling a property sale.'
Pape pointed out that most property sales require a ten per cent deposit, and for good reason.
'It's not just a tradition,' he explained.
'It's a form of protection, if the buyer bails, you keep the cash. But in your case, they vanished into thin air and left you holding the bill.'
The Barefoot Investor suggested the agent may have failed in their professional duties.
'Something stinks here, and it's your agent who stepped on the turd,' he said.
His advice to the mum was to always demand answers in writing.
'Have your lawyer ask the agent for a full written statement: specifically, how they vetted the buyer, why they let that tiny deposit slide, and why no ID was ever collected,' he said.
If the agent is found negligent, he said, their professional indemnity insurance could cover her losses.
Pape signed off with a final jab.
'Good luck with the new bub. This is one dirty nappy you don't have to change,' he said.
'It's their mess, make them clean it up.'
