Business

Rick Otton and We Buy Houses engaged in misleading conduct with book ‘How to Buy a House for $1’

Rick Otton and We Buy Houses engaged in misleading conduct with book ‘How to Buy a House for $1’

EXCLUSIVE

The Federal Court has found property spruiker Rick Otton engaged in misleading or deceptive conduct in a book and DVD called “How to Buy a House for $1”, because it had never been done.

ustice Jacqueline Gleeson has found Otton and his company We Buy Houses Pty Ltd breached four sections of the Australian Consumer Law.

Otton had been taken to the court by the Australian Competition and Consumer Commission over techniques with names such as “rent to buy”, “sandwich lease option”, “deposit builder”, “handyman special” or “sweat equity”, “vendor finance” or “purchase by instalments”, and “some now, some later”.

Rick Otton. Picture: News CorpSource:News Limited

Justice Gleeson said she accepted the “theoretical possibility” of a set of transactions in which the consumer pays $1 only to acquire an option to buy a house and is able to sell the house pursuant to another option without incurring any other costs.

“But there was no evidence before the Court of a single occasion on which this had occurred,” she said.

“Therefore, I conclude that there is no evidence that the respondents’ strategies can or could enable a consumer to buy a house for $1 and there are no reasonable grounds to believe that the respondents’ strategies can or could enable a consumer to buy a house for $1.”

More to come …

Online Source: www.news.com.au

Business

More in Business

National Skills Week 2017: Vocational training is the first step for many creative careers

National Skills Week 2017: Vocational training is the first step for many creative careers

The Indian TelegraphAugust 26, 2017
Fears of Chinese exodus from Sydney property market

Fears of Chinese exodus from Sydney property market

The Indian TelegraphAugust 18, 2017
Young workers underpaid, working in unsafe conditions: Unions ACT report

Young workers underpaid, working in unsafe conditions: Unions ACT report

The Indian TelegraphAugust 14, 2017
Australian dollar stung by RBA's interest rate comments

Australian dollar stung by RBA’s interest rate comments

The Indian TelegraphJuly 21, 2017
Pay drop for thousands of workers as Sunday penalty rate cuts kick in

Pay drop for thousands of workers as Sunday penalty rate cuts kick in

The Indian TelegraphJuly 3, 2017
Minister for Trade, Tourism and Investment - Australian Businesses Tap In To India

Minister for Trade, Tourism and Investment – Australian Businesses Tap In To India

The Indian TelegraphJune 19, 2017
Minimum wage increases to $18.29 an hour, cuts to Sunday penalty rates to still go ahead

Minimum wage increases to $18.29 an hour, cuts to Sunday penalty rates to still go ahead

The Indian TelegraphJune 6, 2017
India rejects Australian request to join naval war games

India rejects Australian request to join naval war games

The Indian TelegraphJune 1, 2017
India and Australia: Why the two countries such close business partners

India and Australia: Why the two countries such close business partners

The Indian TelegraphMay 29, 2017
Senate hearing descends into chaos: ‘You are a tyrant and dictator’

Senate hearing descends into chaos: ‘You are a tyrant and dictator’

The Indian TelegraphMay 25, 2017
Banks angry at having to sign confidentiality agreement on levy

Banks angry at having to sign confidentiality agreement on levy

The Indian TelegraphMay 22, 2017
Treasurer Scott Morrison insists major banks sign confidentiality agreements on the $6.2 billion levy

Treasurer Scott Morrison insists major banks sign confidentiality agreements on the $6.2 billion levy

The Indian TelegraphMay 17, 2017
Newspoll: Prime Minister Malcolm Turnbull’s budget gamble falls flat

Newspoll: Prime Minister Malcolm Turnbull’s budget gamble falls flat

The Indian TelegraphMay 15, 2017
Opal card fares to rise from 3 July

Opal card fares to rise from 3 July

The Indian TelegraphMay 15, 2017
Amazon to undercut local retailers by 15 per cent

Amazon to undercut local retailers by 15 per cent

The Indian TelegraphMay 11, 2017
Govt to standardise allowances across overseas public servant agencies

Govt to standardise allowances across overseas public servant agencies

The Indian TelegraphMay 11, 2017
Flight Fights: The rise and fall of the irate passenger

Flight Fights: The rise and fall of the irate passenger

The Indian TelegraphMay 8, 2017
Prime minister says IS fighter’s son can return to Australia

Prime minister says IS fighter’s son can return to Australia

The Indian TelegraphMay 8, 2017
Australian Federal Police admits to metadata breach involving a journalist

Australian Federal Police admits to metadata breach involving a journalist

The Indian TelegraphMay 1, 2017
Australia encouraged to focus on trade with China, India: report

Australia encouraged to focus on trade with China, India: report

The Indian TelegraphApril 27, 2017
Vandals wreck wreaths laid for Anzac Day in New Norfolk

Vandals wreck wreaths laid for Anzac Day in New Norfolk

The Indian TelegraphApril 27, 2017