Deceased Estates

[nu gen]

Sorry about the lack of morals, but can anyone tell me if deceased estates are advertised anywhere.

If so do they sell by auction?

Thanks:confused:

[geoffw]

Ads in the papers will often say that they are deceased estates.

It's probably to the agent's advantage to say so- there would probably be an increase in demand as a result.

[nu gen]

Thanks Geoff

[electra]

I had a friend once who used to read the judicial section of the classifieds to get addresses of deceased estates from the probate notices. They’d often have an indication of whether there was a surviving spouse, and if not there was probably a good chance the property would be sold at some stage. He’d then put a flyer in the letterbox saying he was looking to buy in the area, please contact him directly blah blah. This way he’d cut out the agents and deal directly with the beneficiaries.

It sounds very ghoulish but apparently it worked in the large regional town he came from. Don’t know how it would translate to a major city. Don't think it's something I could ever do either but you did ask!
:confused:

[Kevin Hockey]

In Brisbane a lot of them are handled by the Public Trustee. They advertise them in the Courier Mail and local papers etc. If you are considering attending in hope of picking up a bargain you had better do your homework. My experience says this is no longer occuring. Deceased Estate auctions are attracting big numbers and prices now appear to reflect the true market value or better.

Kev

www.nundahrealestate.com.au (http://nundahrealestate.com.au)

[Kevin Hockey]

Originally posted by electra
I had a friend once who used to read the judicial section of the classifieds to get addresses of deceased estates from the probate notices. They’d often have an indication of whether there was a surviving spouse, and if not there was probably a good chance the property would be sold at some stage. He’d then put a flyer in the letterbox saying he was looking to buy in the area, please contact him directly blah blah. This way he’d cut out the agents and deal directly with the beneficiaries.

It sounds very ghoulish but apparently it worked in the large regional town he came from. Don’t know how it would translate to a major city. Don't think it's something I could ever do either but you did ask!
:confused:

An agent, I think it was on the Gold Coast, was doing something very similar a year or two ago and A Current Affairs programme used it as a great Real Estate bashing story. She copped heaps from all corners. Guess you can get away with it if you aren't a real estate salesperson.

Kev

www.nundahrealestate.com.au (http://nundahrealestate.com.au)

[geoffw]

There's always someone.

On the day after the Canberra fires, there were poeple offering to buy peoples' burnt out blocks.

Some people really just go too far.

[Ian D]

In QLD the public trustee web site is at

http://www.pt.qld.gov.au/


I attended a couple of open houses last month, big volumes of lookers particularly in inner suburbs.

[Ruby]

Just to add to Ian's link above, most of the public trustee sites have property listings on them and the agents that are selling them.

South Australia: http://www.publictrustee.sa.on.net/newsInformation/realEstate.htm

New South Wales: http://www.pt.nsw.gov.au/properties.cfm?category=13

Tasmania: http://www.publictrustee.tas.gov.au/realestatecentre.htm

ACT: http://www.publictrustee.act.gov.au/sales.html

Victoria: http://www.statetrustees.com.au/index.cfm?section=properties


Ruby :)

[paulzag]

I have bought occasional bargain 3d's (deceased, divorced, destitute).

Deceased estates are generally bargains when they have something wrong with them to scare off the punters. Otherwise they are just another property being sold be the agent. Which means market price. Sometimes a poor or frail person will not do periodic maintenance for decades. Provided the house is not then a "handyman's special" it could be a bargain.

I knew someone who loved buying houses with termites. He'd loudly discuss termite damage and scare off the competition. Termites are out of my comfort zone.

Regards

Paul Zag
Dreamspinner

[landlubber]

NU GEN,
I have found deceased estates to be good value. The auctions tend to be fair dinkum with no bids from the trees. They normally sell on the day, so you get a result. And often the properties are a bit rundown so you can add value quickly. Our experience is a good clean deal at fair value . They are normally clearly advertised and well attended. Good fun !
LL