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'Ploy' to get more offers in Auckland house sale backfires


Li said the offer was far too low, and she did not respond to Fang.
On August 19, Fang presented Li with a signed sale agreement from Ma for $1.03m. According to the judgment, Fang said that Ma was prepared to increase her offer to up to $1.09m but no more. Fang told Li he knew that was not enough, and he had already found another buyer, Li said.
Li countersigned the agreement for $1.14m, having been assured by Fang that amount would not be accepted.
“Ms Li says that Mr Fang told her that the reason he wanted her to make a counter-offer was so that he could show it to future buyers and use it as a means of encouraging them to make offers themselves,” Associate Judge Peter Andrew said in the judgment. ....

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