Foreclosure auctions

[Nathan22]

Hi guys

Has anyone had any success purchasing CF+ properties or good renovation projects through foreclosure auctions?

Just chasing some contacts.

Nath

 

[bumblegoodie]

Hi guys

Has anyone had any success purchasing CF+ properties or good renovation projects through foreclosure auctions?

Just chasing some contacts.

Nath

Hi Nath,

Can you tell us where to find those foreclosure properties?


BG

 

[teddy1]

You can try this one

www.nmddata.com.au

 

[Nathan22]

You can try this one

www.nmddata.com.au

Hey Ted

Thanks heaps, looks interesting but has a membership fee...

Not sure where else to look BG, Im just getting started on the idea. Let me know if you find something. My mortgage broker has just put me onto www.***************************/ca14720trial. I am just signing up now so not sure if there will be an option for Foreclosures but worth a look.

Nath

That didnt work... are we not allowed to attach links?

Anyway google Realestate investar. They have a 21 day trial for a database of properties plus loads of extras.
Nath

 

[Nikolaos]

nmddata is a bit of a scam depending on your requirements. That site doesn't have exclusive information. Anything listed there as deceased estate, mortgagee in possession etc, is also listed on realestate.com with the same information.

 

[Paul@PFI]

Bank mortgagee in possession auctions and sales are handled by local agents under bank instructions. The agencies don't often publicise them under the request of the bank. Its meant to recover the best market price in the least time. Its not a give away - especially in this market.

Foreclosure is a US term and not used here.

First sign is usually an agent indicating a very willing vendor. Who then explains all offers need bank approval which can take time. Sometimes agents do publicise mortgagee auctions to pull in bidders but like all auctions in a warm market it just pushes prices when you have many bidders.

 

[albanga]

Real Estate Investar has a keyword search which looks very handy (I have never used it personally). It does however look through all listings for things such as "deceased estate", "urgent sale", "Divorce".etc.

 

[teddy1]

nmddata is a bit of a scam depending on your requirements. That site doesn't have exclusive information. Anything listed there as deceased estate, mortgagee in possession etc, is also listed on realestate.com with the same information.

I use google image search to get the info, but yes they are listed on RE but harder to find if spread over many suburbs, bit quicker with them in one place.

 

[Gatherer]

Forced sales

Have a look at your local court lists for potential forced sales