The property dream that soon became a nightmare | The Business | ABC NEWS

Описание: The collapse of a buyer's agent has left hundreds of people, who bought into the dream of owning real estate, questioning where their payments of up to tens of thousands of dollars have gone. Emails and messages obtained by ABC news reveal customers were still being encouraged to sign up to Dashdot's property investment services just days before the firm entered voluntary liquidation. The communications do not prove any wrongdoing occurred. But they raise fresh questions about what was happening inside the company in the weeks before its collapse, and whether prospective customers were being encouraged to commit to significant upfront fees while the business was approaching insolvency. Dashdot has estimated liabilities of $16.6 million but just $71,000 in estimated realisable assets, according to an initial liquidators' notice obtained by ABC News. The liabilities include $10.6 million in prepaid services or refunds it owes to 695 customers.

Dashdot was founded in 2019 by Glenn "Goose" McGrath and Gabi Billing. Mr McGrath said they're "genuinely sorry" for what this situation has meant for creditors. He says they personally invested a significant majority of their personal wealth in this business and had "lost almost everything". He rejects any claims or insinuation they "misappropriated funds or acted in a deceitful or nefarious way". Mr McGrath says he's helped connect clients with other buyer's agents willing to credit some or all of the fees they had paid Dashdot. Liquidators are investigating Dashdot's affairs and are expected to release a report to creditors within three months. The firm's collapse has ignited debate about Australia's buyer's agency industry, which has been fuelled by soaring house prices.
#ABCBusiness
Subscribe: http://ab.co/1svxLVE
Read more here: https://www.abc.net.au/news/2026-06-1...

Note: In most cases, our captions are auto-generated.

#ABCNEWS #ABCNEWSAustralia