Original article by Larry Schlesinger
The Australian Financial Review – Page: 33 : 18-Jun-19

A rise in valuation shortfalls is seeing a surge in buyers of off-the-plan apartments in Melbourne trying to get out of their contracts. Many such buyers are using DIY website forsalebyowner to do so, with website operator Colin Sachs noting that such apartments cannot be sold via traditional real estate agents. He says the situation presents enormous risks for developers, as they need these buyers to pay up so that they can fund their projects.

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