All Topics / The Treasure Chest / Foreclosures

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  • Profile photo of believerbeliever
    Participant
    @believer
    Join Date: 2003
    Post Count: 0
    June 17, 2003 - 1:05 pm

    Does anyone know for sure whether or not you can buy foreclosures in Oz? I read on one site that you can’t, that by law all foreclosures have to go to auction, but I didn’t trust the source…

    Profile photo of TerrywTerryw
    Participant
    @terryw
    Join Date: 2001
    Post Count: 16,213
    June 17, 2003 - 1:16 pm

    I have heard the same. Banks must be seen as getting at least market value for the properties they foreclose on.

    But you could still buy properties from people that are about to be foreclosen upon. You just have to find them

    Terryw
    [email protected]

    Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
    http://www.Structuring.com.au
    Email Me

    Lawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au

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