My experience with Ramin Bay was extremely disappointing as a first-time property seller. The property was already vacant, and because of mortgage pressure I was specifically looking for a quick settlement. Based on my understanding of discussions with the agent, I believed the settlement period would be around 7 days. I was therefore shocked to later discover that the contract contained a 90-day settlement period. I also understood that the property would be sold in its existing condition with belongings left by the former tenant. Later, cleaning and rubbish-removal obligations became an issue, creating additional expense, stress and financial pressure. As a first-time seller, I was unfamiliar with auction contracts and relied heavily on verbal discussions. Looking back, I do not feel I was given a proper opportunity to fully review and understand the contract before signing. Had the settlement period and other obligations been clearly explained to me, I would have made different decisions. The extended settlement period caused significant ongoing costs, including mortgage, rates, insurance and maintenance expenses, which in my view resulted in substantial financial loss. My advice to other sellers is not to rely solely on verbal discussions. Make sure every important term is confirmed in writing, carefully review the contract before auction, and obtain independent legal advice before signing.
Ramin Bay
