Bayside area

Yes they may have their mortgage in place but its always subject to valuation and lender discretion.

Just because a bank has given you an agreement in principle doesnt mean they can’t back out.

What is the risk if I buy a non habitable property at auction (with agreement in principle) that the lender may reject if say the kitchen is not…[Read more]

So did you buy anything steve?

In other countries, cash buyers buy at big discounts as it knocks the retail market and is a bridge to a more liquid sale

clearly states is not sold by an agent or auctioneer but the sherif.

Also states the property can’t be inspected prior and no s32 vendor statement.

Straight from the victorian government webpage:

Who conducts a Sheriff’s auction?
A Sheriff’s auction is conducted by a Sheriff’s officer, not a real estate agent or auctioneer.

Sheriff’s auctions of real estate differ from usual auctions conducted by real estate agents/licensed auctioneers.

A property can not be inspected prior to auction…[Read more]

Are you sure about that? My understanding was they are sold site unseen and the buyer has to take on the debt hence can’t go through normal auction process and same warranties around title arn’t provided hence cant use conventional bank finance until issues sorted

The victorian sheriff auction lists properties but there is limited stock (only…[Read more]

However, the question still is there:how do I find sheriff sales?

That is fine, the price would capture the above in.

That is if the property is worth 800k and mortgage is 400k, as long as I pay less than 400k im buying below market.

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Please can you let me know who the main ones are in melbourne/sydney?

Where can i look for these sales? I dont want to bid on something thats going through normal process on domain/realestate.com

Are these receivers running a usual sale process to non anxious buyers? Listed on domain etc? Where are they listed? If they are listed on usual salE sites and run usual auction process i dont understand why you say they are cash? Most the buyers will bid on basis they can get mortgage to settle.

Hi richard, bit confused – most auctions are purchased by retail investors with 80%lvrwho then have the bank fund the gap. Can you elaborate more on that comment? I appreciate most people bid at auction and dont appreiacte risk that lender may pull out but dont get you comment? Genuine qs – not trying to be smartass

eg say i got 2m cash, the…[Read more]

Hi richard, bit confused – most auctions are purchased by retail investors with 80%lvr

eg say i got 2m cash, the retail market is quite wide with couples, families etc with 400k deposit and 80% loan. However, the investor market with 2m cash ready to buy problem assets site unseen and fix the problem is cery thin – well thiner than the 80%…[Read more]

Hi richard, bit confused – most auctions are purchased by retail investors with 80%lvr

eg say i got 2m cash, the retail market is quite wide with couples, families etc with 400k deposit and 80% loan. However, the investor market with 2m cash ready to buy problem assets site unseen and fix the problem is cery thin – well thiner than the 80%…[Read more]

Hi richard, bit confused – most auctions are purchased by retail investors woth 80%lvr

eg say i got 2m cash, the retail market is quite wide with couples, families etc with 400k deposit and 80% lon. However, the investor market with 2m cash ready to buy problem assets site unseen and fix the problem is cery thin – well thiner than the 80% lvr…[Read more]