Repossessed properties

Not really, the banks who foreclose because of morgage defaults just simply refer them to an agent to sell. I am not aware of anyone being privvy to this information or obtaining this type of information before the reposessed house hits the market.

Have to agree with G7 although it is possible to get a contact for repossessions…but not generally part of the ‘industry’…..for example, I used to get info from a lawyer who worked for a major bank and would know of repossessions…this was legal but not exactly legitimate..

Depending on the actual status of the repo, this could constitute a breach of the federal Privacy Act and therefore the law…

“Depending on the actual status of the repo, this could constitute a breach of the federal Privacy Act and therefore the law…”

Hehehe, I don’t think it breaches new privacy Act but I’m sure we could find a law it breaches.

I don’t know why repossessions are so poorly advertised, as the banks do have a duty not to step on their customers (too much)

Usually it is very difficult to get info about foreclosures and if you ring up the bank they will tell you to go elsewhere, so you really have to find a kink in the system (e.g. a lawyer who is told about alot of the banks foreclosures). It would be a very niche play.

FFComm

I thought there was a register kept with the local chamber magistrate or sheriffs office.
Sheriff would be private i imagine but i thought the chamber magistrate held a list which was public knowledge???
Not sure but that’s what i’d heard

To my knowledge their is no database kept of bank foreclosures that is available to the public. I think that the banks would be loathed to be seen helping people comming ou of the wood work and taking advantage of desperate people.

I am sure ACA/TT would do excllent TV programing and Gov. would be forced to act.

Usually though people are really put under presure to sell before the banks has to repossess.

FFComm

I dont know if I am allowed to do what I have just done regarding the posting? If it is taboo then you know what to do.

Sorry if it is unacceptable I was not sure.

We are all made from Stars.

No, I don’t, would you like me too? I come across developer’s property. I would also like to say that you are becoming a tad unprofessional Robbie, that was a cheap shot. Hope you got a giggle from it at my expense yet again.

We are all made from Stars.

Some of my colleges do a few flips etc in regards to PPOR’s I really don’t like to get involved in peoples misfortunes such as the average mum and dads of Australia.

We just get deals past the table from time to time and pass them on for a dollar or two. As long as they are good value. The lad who passed this particular lot by me does this kind of stuff for a living full time. He sniffs them out one-way or another, I don’t know how!

We offer large portions of these hot deals to our existing clientele for their perusal unlike a lot of other companies trying to offload new developments for 25k commissions we like to provide a valued choice if that makes sense.

I like your last post too mate, I give in you win! But I will provide the details as they become available for that particular loan; all I can say is that it is a true rate that someone that knows someone negotiated for me, all BS aside.

The reason I remain anonymous at this stage is a personal thing, as you know with certain industries one thing can lead to another and before you know it you are looking for another job if you get my drift. So at this stage I shall remain behind the iron curtain until it is safe to enter the woods again.

I do apologize if I have offended you Robert, all BS aside; I like a stirring and a laugh just like most Australians! I hope you enjoy it as much as I.

Peace Mate

Graham

We are all made from Stars.