Dec 7, 2020
Podcast: Mascot in court and how to clinch a deal
In this week’s podcast we catch up with what’s happening at Mascot Towers as owners in the ill-starred building prepare for their day in court.
Specifically, they will be pursuing legal action against the developers of the apartment block next door, construction of which, they claim, undermined the foundations of their block.
Meanwhile they are facing tens of millions of dollars in defect rectification bills to the point where the repairs may cost more than the block is worth.
And the people next door say they have pictures of cracks in the Mascot building before they'd so much as turned a sod.
Then we talk to Scott Aggett a vastly experience real estate agent and ace negotiator with his company Hello Haus on some of the highly developed tactics that have seen him buy and sell 27 properties just for himself.
Scott is a hired gun for people who think they can get the property they want for less, but aren’t sure how to do it. His biggest success? Saving a buyer $800,000 off the purchase of an apartment in London.
It’s a fascinating interview which includes an insight into the classic error single women make when they are negotiating property sales or purchasers
Listen Here
As usual these days, our podcast is available as a transcript, interpreted by a computer, then made sense of by a human.
Transcript in full
Jimmy 00:00
I was talking to a lawyer the other day, about a building with a large rooftop. The Owners Corporation claim that there's efflorescence (that’s salt coming up from underneath the tiles), ruining the tiles on the rooftop and he said they'd spent something in the region of $260,000 on various experts, and lawyers’ fees to take this case against the developer. He said then the developer turned up with their expert witnesses and said that the efflorescence was coming from cheaply-made planter boxes on the rooftop. So, the developer said, “okay, my bad. I'll give you $9,000 for new planter boxes.”
Sue 00:48
Oh, my god. Did the developer put those planter boxes up there, then?
Jimmy 00:52
Yes, they put them up there. Presumably, they're saying “okay, yeah, we shouldn't have put such cheap planter boxes, so yeah, we'll replace them. Off you go.”
Sue 01:01
Oh, my god. Is the damage still there?
Jimmy 01:04
The efflorescence… You can scrub it off the surface, but those salts (if you don't cure the problem), keep coming up through the tiles. So, if there is no problem underneath the tiles, then it's going be okay.
Sue 01:20
Why didn’t they say that before? Why didn't the other side's expert witness ever even look at that?
Jimmy 01:25
You wonder. We're going be talking about defects and court cases, because you've been following up on the Mascot Towers’ story. And we're going to meet somebody who makes a living from negotiating property prices down. I'm Jimmy Thomson.
Sue 01:42
And I'm Sue Williams.
Jimmy 1:43
And this is the Flat Chat Wrap.
[MUSIC]
Jimmy
Mascot Towers, Sue; you've done a story for the Sydney Morning Herald, Domain?
Sue 02:04
That’s right. I think we were all wondering what happened to Mascot Towers, because it's been 18 months now, since all those owners were evacuated from the tower and you kind of wonder what's happening. I hadn't heard anything for a while, so I put in a few calls. It turns out that they're having their day in court, next week, on the 11th of December. The case is finally getting to the Supreme Court, after all this time. It's the owners of Mascot Tower versus the developers of Peak Towers, which is the building next door. You’d probably remember; they were evacuated because the building was starting to sink, and they said it was because the developers of the building (which is just adjacent to it), had been tunneling down for this…
Jimmy 2:50
Digging down for a carpark.
Sue 2:51
That's right, for a basement carpark and had tapped into the underground water table...