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I am activly looking for don't wannas and am looking at vacant properties. I have found one I am interested in but cant make contact with the owner. I know (from talking with the nieghbours) that it is a deceased estate and the man was single with no dependants and his parents passed away...

I understand that the basic concept being to by and then onsell property before the settlement period is up and collecting the difference in sale prices, but can someone explain the process in a little more detail. In particular anything to watch out for and what happens when you bye and then...