Property spruiker Rick Otton accepts pre-auction offer for Bondi Beach semi

International property spruiker Rick Otton, the controversial How To Buy A House For $1 author, pulled his Bondi Beach semi from its scheduled auction on Saturday.

The attendees were told there’d been an acceptable pre-auction offer.

The four-bedroom Roscoe St semi had been listed with a $3.2 million to $3.5 million price guide by Di Baker, of Di Baker Prestige Properties, who added interest to the prospective sale by telling buyers that the exchange paperwork had yet been officially signed.

The semi last traded in 2007 for $1.6 million when bought with Jane Otton.

Otton was in the news last month after he and his company were fined $18 million for misleading property investors.

The Federal Court judgment was for breaches of Australian Consumer Law — some $12 million against Otton’s business and $6 million against him personally. He was banned from managing corporations for 10 years in Australia.

This article was first published in the Sunday Telegraph.