Thread: Mortgagee sale

Anyone have any advice on buying?

There are quite a few risks, but depending on who lives in it and who owns it they could be minimal.

Feel free to pm any specific questions.

Get some advice

If the people are in the right mind it can be fine or you can wind up with the place being stripped as the mortgage isn't over all the Chattles

Don't give the real estate agent the deposit, get your lawyer to hold it in a trust account until settlement day, my daughter and son in law nearly got caught with a bankruptcy after they had purchased, being a lawyer she had it sussed and the deposit, the realestate agent didn't get paid!

do your homework all sorts of rules just for this .no1 if they decide to stay in the property you cant move them on you have to wait until property is vacant also they can take stove carpets bath plumbing etc you are buying the property in the condition it is after they leave

If the mortgage is selling under the power of sale it will provide clear title. Usual checks are all you require and hopefully no one else is buying at your offer price.