Yeh but you see i buy my next one on a 3% yield. IM done borrowing capacity done. I enjoy always looking for the next one

In my experience in aus you are capped on personal income for conventional lending  as resi yields are low and banks stress at very high rates. In uk, you can be on a very low perdonal income as long as its £25k (thats from property distributions mind you also) and as long as property services 1.25x of the interest that is all they test. I Wonder if historic low rates have changed the game and wil make it easier for there to be more professional landlords

• This reply was modified 3 years, 1 month ago by  propertyboy.

Bayside area

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

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 as the Sheriff does not obtain possession of a property as part of the sale process.
A Sheriff’s auction does not operate under the Sale of Land Act 1962 and there is no requirement to provide a vendor’s statement under section 32 of the Sale of Land Act.
Unless the court orders otherwise, the Sheriff has a duty to obtain a fair price. The Sheriff sets a reserve price, however, the reserve price is not disclosed.
Interest in property
A person’s interest may be subject to any other interests in the property registered on the title to the property at the time of the auction, including mortgages and caveats. These other interests are noted on the advertisement of property to be sold at the Sheriff’s auction.

The extent of the interest being sold by the Sheriff will differ at each auction.

Process following a Sheriff’s auction
Prospective purchasers should note that different requirements apply following the completion of a Sheriff’s auction. In summary:

A sale of contract will be entered into. This is not a standard form contract.
On payment of the purchase price, the Sheriff provides the purchaser with a completed Transfer of Land form, which the purchaser can use to become registered as a proprietor of the property. The Sheriff does not provide the Certificate of Title.
Payment terms vary from auction to auction – refer to individual contract for details.
There are no adjustments made on the purchaser’s payment of the balance of the price.
The Sheriff does not deliver possession of the property upon a sale.
Stamp duty is payable on transfer of land from the Sheriff.
Prospective purchasers at a Sheriff’s auction should obtain legal advice in relation to the effect of other interests registered on title.

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

?

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

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.