Apartments owners in the Opal Tower looking to sell have been left in limbo as ambitious buyers submit offers as low as $1 or shun the building all together.
Real estate agents with listings in the building told The Daily Telegraph there had been an influx of optimistic buyers looking to cash in on the tragedy by snagging a unit for hundreds of thousands of dollars below what owners originally paid.
Homeowners and tenants were evacuated on Christmas Eve after cracks were found throughout the building, with fears it could collapse.
There are currently three properties within the Opal Tower currently for sale on realestate.com.au, with one recently withdrawn.
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Listing agent Du Yang of SY Realty, who also owns an apartment in the building, said selling the units had now become an almost impossible task.
Mr Yang has even been hit with backlash for attempting to sell the properties, even though they were listed prior to any knowledge of the buildings problems.
One buyer inquiring about a property immediately withdrew their interest after finding out it was in the tower, replying “Oh sorry, didn’t know this property was in (the) Opal Tower. Not interested in that building thanks.”
Another prospective buyer said they were “withdrawing my $400k offer for the property. I do think even at $400k the price is too high.”
There were also some less realistic inquiries, with Mr Yang receiving an offer of just $1.
“Considering all the controversy lately how about I make you a deal? $1, take it or leave it”, the email read.
As an owner in the building, Mr Yang said the experience had left him unable to sleep.
He has so far received no compensation, and like other landlords, is likely to struggle to find tenants or offload his investment for even close to what was originally paid.
Mr Yang said he would likely have to stump up the mortgage out of his own pocket, as well as paying a mortgage on his own home.
“This was meant to be the Australian dream and now it has become the Australian nightmare,” he said.
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“It’s like having a lottery ticket. I won’t buy anything in Sydney ever again.”
Shaun Thomas of property valuation firm Herron Todd White said while unit values in the tower had taken a significant hit, they would likely recover over time if the problems were fully rectified.
“There could be a bit of stigma going forward but that will ease,” he said.
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