An Australian man whose house was repossessed by the Victorian state government and then sold at auction for 1,000 Australian dollars (1,007 US dollars) told a Melbourne court that it was worth 630,000 Australian dollars.
Zhiping Zhou was fighting the sale of his house in a Melbourne suburb, which was repossessed over a 98,000-Australian-dollar debt.
The buyer told the Victorian Supreme Court that the transaction was legal because no reserve price was set for the auction.
Australian's repossessed home sold for 1,000 dollars
An Australian man whose house was repossessed by the Victorian state government and then sold at auction for 1,000 Australian dollars (1,007 US dollars) told a Melbourne court that it was worth 630,000 Australian dollars.
Zhiping Zhou was fighting the sale of his house in a Melbourne suburb, which was repossessed over a 98,000-Australian-dollar debt.
The buyer told the Victorian Supreme Court that the transaction was legal because no reserve price was set for the auction.
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