Hi,
I was reading about foreclosure sales in the US and was trying to find information on how it works in Australia. If anyone can point me in the direction of where I can find the info I would be greatly appreciative. If there are reasons why its not so popular in Australia that would also save a allot of time…
(great site by the way)
Cheers,
Jake
Hi Jake
If you do some searching through older posts, you’ll find this topic has come up before.
Basically, though, the foreclosure market in Australia is very different to the US. Part of this is due to the fact that it’s so much smaller, there’s nowhere near the volume of foreclosures that there are in America.
Also, however, these sales are generally handed over to a RE agent to receive fair market value at auction. Doesn’t mean you can’t pick up a bargain sometimes, but it’s a lot rarer.
Most of the time you can find just as good a bargain on a normal house if the seller is motivated enough.
But this is only my opinion! Others may be able to give you different suggestions.Keep smiling
Felicity
Hi Jake,
I can’t answer your question, but I would also like to find out more about finding foreclosure-listed properties. It seems to be a hot topic in the US, but I’m not sure who administers foreclosed properties here in Aus (and the rules/law involved here). Anyway, could someone provide some insight or resources in regards to this topic.
Thanks,
Silas
[8D]Hi,
Check out:
https://www.propertyinvesting.com/forum/topic.asp?TOPIC_ID=584
In fact, use the search function using “foreclosure” and see what comes up.
Bye
Steve McKnight
**********
Remember that success comes from doing things differently.
**********Steve McKnight | PropertyInvesting.com Pty Ltd | CEO
https://www.propertyinvesting.comSuccess comes from doing things differently
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