All Topics / The Treasure Chest / Free properties

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  • Profile photo of GemmagirlGemmagirl
    Member
    @gemmagirl
    Join Date: 2003
    Post Count: 7
    September 12, 2003 - 11:23 pm

    I have heard that you can obtain properties by paying the back rates only and the property is free from deceased estates. I’m not sure if this is ethical or legal and woud like to find out more, does anyone have any information on this?

    Profile photo of Mortgage HunterMortgage Hunter
    Participant
    @mortgage-hunter
    Join Date: 2003
    Post Count: 3,781
    September 13, 2003 - 1:11 am

    Gemma,

    I think this is a US strategy. I am nor aware of it happening here in Australia.

    Cheers,

    Simon Macks
    Mortgage Hunter
    [email protected]
    0425 228 985

    Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.

    Profile photo of xyzzyxyzzy
    Participant
    @xyzzy
    Join Date: 2003
    Post Count: 178
    September 13, 2003 - 1:33 am

    Councils have the right to sell properties for non payment of rates at a public auction. These ocassionally happen and there are a number up for sale in my area next month.

    Usually the owners pay the rates before the auction if there are houses on them and the vacant land is often sold at market rates

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