All Topics / General Property / Distressed property for sale: How to find them BEFORE they hit the market?

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  • Profile photo of colinnewlandcolinnewland
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    @colinnewland
    Join Date: 2006
    Post Count: 128

    Does anybody have leads on how to get access to distressed mortgage properties BEFORE they hit the market?

    Is there any way to get leads direct from the banks?

    Cheer

    Colin

    Profile photo of maree_bradrossmaree_bradross
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    @maree_bradross
    Join Date: 2007
    Post Count: 401

    gosh vultures circling

    Profile photo of ScottsdaleScottsdale
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    @scottsdale
    Join Date: 2011
    Post Count: 63

    A more useful reply…

    I would suggest getting to know the person in the bank who deals with these. If they know what you're interested, they'll contact you. It's similar to telling the RE agent what you're after and thye call you before the property hits the general market. Although I'm not sure of the legal/ethical aspect of this but I can't see why it would not be allowed. Worst thing that can happen is you ask and they say no!

    http://www.nmddata.com.au/ and http://mortgageeproperty.com.au/ are good places to start if you can't get on an agents contact list for mortgagee sales.

    http://www.somersoft.com/forums/archive/index.php/t-40336.html is a discussion on the same topic so hopefully you'll find something useful there

    Regards,

    Derek

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