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Mortgagee Auction for a commercial propertylin.property [2 Posts]  Hi, I'm planning to attend a mortgagee auction for a commercial property. I've been asked to put in an offer before auction, but I want to wait until auction because so far it seems there's not much interest and I have a good chance to bid below market. Does anyone have any advice or information on what to watch out for in commercial auctions in NSW? I know that for resident auctions, all bidders needs to register for the auction beforehand and the vendor can put in only 1 bid. Does that apply for commercial auctions too? I don't want to end up bidding against the vendor. Thanks in advance! Scott No Mates [794 Posts]  Same rules apply for all auctions - bidder registration, one vendor bid etc. Is the property vacant possession or with a lease on foot? You will need to be aware of what net current rent is, net yield for comparables etc.   |
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In The NewsNo Housing Revival Just Yet! Auction clearance rates slumped again over the week-end leading experts to advise investors that they will have to wait another year for a revival in the housing market. RBA Slashes Rate RBA announces the biggest rate drop in 13 years - down 1%! Gazumping running rampant! Australia's housing shortage could fuel a new round of illegal rent auctions according to the HIA. The undersupplied housing market has forced rental prices up and escalating prices means Gazumping - where a seller continually raises the price - a method which is both informal and illegal is now rampant in most capital cities. Today's Tip"OPM" means Other People's Money <more> Active forum topicsDetermine if it's a structural wall or not Author: Fed23 Estate agent fined $20k for underquoting Author: Phorsha Who's OnlineTake The Test
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