absolutely gob-smacked

Discussion in 'Legal Issues' started by Fernfurn, 11th Jun, 2020.

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  1. Fernfurn

    Fernfurn Well-Known Member

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    Our rented townhouse needs a new exhaust fan and couldn't remember what style. Typed in the address under search just in case there was a listing of it and up came a domain listing, not only with pictures, but an estimate of what it is worth. Bit of an invasion of privacy, but what absolutely floored me was they had even estimated what we owe on it. With all the overkill around privacy issues these days, I feel this is a real invasion of privacy and would like to complain
     
    Fernfurn, 11th Jun, 2020
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  2. Terry_w

    Terry_w Lawyer, Tax Adviser and Mortgage broker in Sydney Business Member

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    every property in Australia is listed like that now. Its public information.
     
    Terry_w, 11th Jun, 2020
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  3. ttn

    ttn Well-Known Member

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    Can you share the domain? Might need to check mine
     
    ttn, 11th Jun, 2020
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  4. Terry_w

    Terry_w Lawyer, Tax Adviser and Mortgage broker in Sydney Business Member

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    just google your address. there are several sites.
     
    Terry_w, 11th Jun, 2020
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  5. Mumbai

    Mumbai Well-Known Member

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    Estimation of what the property is worth has been on RE and Domain since ages, but I have never seen (and still dont) estimate of what is owed on it. How would they get this information unless you provided it at some point?

    Ignore what I mentioned above underlined. I see what you mean!
     
    Mumbai, 11th Jun, 2020
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  6. ttn

    ttn Well-Known Member

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    But I can not find which sites that can predict or estimate my debt? very interesting to find out ;)
     
    ttn, 11th Jun, 2020
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  7. Lindsay_W

    Lindsay_W Well-Known Member

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    Highly unlikely there are any actual debt figures - it's likely a misunderstanding by the OP it's based on some basic assumptions and is not factual.
    "This estimate is based on the property sale price and assumes the owner had a 20% deposit at the time of purchase and has been making principal & interest repayments at a 2.9% fixed interest rate 30 year term since the property was purchased"
    It's highly inaccurate
     
    Last edited: 11th Jun, 2020
    Lindsay_W, 11th Jun, 2020
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  8. Mumbai

    Mumbai Well-Known Member

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    It shows the Outstanding loan amount, but it is far from accurate. I guess it is doing some kind of calculation based on purchase price and a regular P&I repayment.
     
    Mumbai, 11th Jun, 2020
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  9. Lindsay_W

    Lindsay_W Well-Known Member

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    it's the property website, domain.com.au
     
    Lindsay_W, 11th Jun, 2020
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  10. wylie

    wylie Moderator Staff Member

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    I've just googled one of our IPs and the suggested loan amount is only sitting there for you to change, change the years left, choose P&I or IO and then click a button to see your loan options.

    But what's interesting is that for a block we've just created and are building on, the UCV is $1m and estimated sale range with "medium confidence" is $275k to $350k.

    I've always know these estimates aren't worth much as a DD tool. But this one is just crazy.
     
    wylie, 11th Jun, 2020
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  11. ttn

    ttn Well-Known Member

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    Looks like the estimate matches to the OP profile :D no harm
     
    ttn, 11th Jun, 2020
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  12. TMNT

    TMNT Well-Known Member

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    its not different to those tools/suburb analysis that say the average person living in that suburb would have 2.3 kids, average income of $65k, working in X industry, and has 1.5 cars
     
    TMNT, 11th Jun, 2020
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  13. Peter_Tersteeg

    Peter_Tersteeg Mortgage Broker Business Member

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    Add to this a title search (or a full RP Data description) will reveal the owners name. From there, a little more work on Google, LinkedIn & Facebook will likely reveal a current address or workplace...

    The new credit reports show your ongoing loans, how up to date you are on paying everything (including utilities bills). There's privacy protections around these, but that really doesn't stop anyone.
     
    Peter_Tersteeg, 11th Jun, 2020
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  14. Lindsay_W

    Lindsay_W Well-Known Member

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    But not just anyone can order a copy of your credit report can they?
     
    Lindsay_W, 11th Jun, 2020
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  15. ttn

    ttn Well-Known Member

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    The data are held by FI and the likes I know very well but to display on a public website is another matter
     
    ttn, 11th Jun, 2020
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  16. wylie

    wylie Moderator Staff Member

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    The automatic suggestion of what we owe on the IP I checked has absolutely no bearing to what our loan actually is.

    I just checked our places (we don't have many, so doesn't take long :p) and each loan amount and loan term seem to relate to purchase price, with a guess that we would have borrowed with a 30 year term, and taking into account the time we've held. The estimated loan outstanding seems to be in line with this rough calculation.

    But our loans are nothing like what we had when we purchased, so I'm feeling quite confident they are just putting the numbers they do have (purchase price, years held) and assuming what a loan would now look like if we had a vanilla mortgage back then and made no changes.
     
    Last edited: 11th Jun, 2020
    wylie, 11th Jun, 2020
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  17. TMNT

    TMNT Well-Known Member

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    I dont particularly care too much about privacy, however, at the start of time, I posted on a local forum about my missing cat and put my phone number and address,
    even to this day, if you google my number its the first hit on google, I emailed them to remove, but no reply

    and that was like 25 years ago........
     
    TMNT, 11th Jun, 2020
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  18. Paul@PAS

    Paul@PAS Tax, Accounting + SMSF + All things Property Tax Business Plus Member

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    You need a drug phone (my wife calls mine that). Dual sim eg Most modern smartphones allow a virutal + hard sim). Hardsim no is published. Soft sim and all outgoing calls with ID blocked is the soft sim. Only "friends" have the soft sim no. And I can add anyone as blocked or unblocked on the soft sim.
     
    Paul@PAS, 11th Jun, 2020
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  19. Stoffo

    Stoffo Well-Known Member

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    Interesting, I looked mine up also.
    I guess its ok to have a street view pic.
    It is funny to look at all the old pic's obviously from the listing when we purchased, but it raises the question of who owns the right's to use these pics ?
    Example, I employ a photographer to take pics of my property, and in turn I own them, then I list for rent/sale on a web site and use these pic's. Long after the sale MY pics are now being used by these various sites, not quite right under copy right laws if you ask me
     
    Stoffo, 11th Jun, 2020
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  20. Lindsay_W

    Lindsay_W Well-Known Member

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    I get where your coming from but there's probably a clause in the terms and conditions of using such a website that states the photo's become theirs once you upload them for advertising purposes or some such - typically a tick box with a 1000 word T&C's that you must agree too that then allows you to continue through the site.
     
    Lindsay_W, 11th Jun, 2020
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  21. TMNT

    TMNT Well-Known Member

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    was dating this girl years ago, and id been to her house a few times, and she told me her and her ex bought the house in which year for how much, and fixed it up a bit

    2 mins on price finder, and google,

    and I found out the name of ex partner, name of previous owners, their job, reason for selling, original ad, before reno pictures, how long on market, how much they bought and sold for, colour scheme of house, types of pets they had (bird aviary)

    she was telling a few porkies, but I kept quiet
     
    TMNT, 11th Jun, 2020
    #20
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