Have you ever heard something so stupid?

I often trawl real estate listings online just looking for bargains etc when I’m bored. Anyway, some land in Sth east Melb (won’t say where) came up and was advertised quite cheap compared to current prices, around 220k for 400m2.
As read that you could lay by until 2020.
I thought that’s not bad, they must mean 5/10% deposit bal at titles as per normal. I rang the agent to sus out (just out of interest as I’m not really in the market for land but anyway but always get distracted when looking on re.com.au.
Was the dodgiest deal ever! They wanted 50k deposit, then purchaser pays $2000 per month until titled in 2020. I actually laughed. She told me I would double my money.
I told her if I could double my money in a slowing market, I would be doing it with next to no money down (5%) and no repayments until titles with any old developer. Why on earth would anyone want their cash tied up in this type of deal? Would any bank even finance this type of thing?

 

and illegal under Section 9AA Sale of Land Act 1962

 

double your money in 12 years!!!

where do I sign up!

 

Yep, industry is full of fraudsters.. Watch out.

 

For $50k down and $2000 a month I have this bridge I will sell you BMV

 

I know which estate you're talking about. Although I've never looked in to how legitimate it is, I must say the land is ridiculously cheap for that area.

 

Geez, damn inflation. It used to double every 7 years, then every 10.....