All Topics / Help Needed! / Morgagor’s Auctions??

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  • Profile photo of MoNteLLMoNteLL
    Member
    @montell
    Join Date: 2006
    Post Count: 1
    September 13, 2006 - 2:46 am

    Dear All,

    Can anyone please explain the difference between a MortgagEEs and a mortgagORs auction?

    I know that MortgagEE auctions are bank foreclosure or “distressed sales,” however I have been told by the real estate agent that a MortgagOR auction is the vendor selling. Isn’t it then just a normal auction/sale?

    Is this some trick of wording used by the real estate agent to increase interest in the property?

    Thanks,

    Josh

    Profile photo of Mortgage HunterMortgage Hunter
    Participant
    @mortgage-hunter
    Join Date: 2003
    Post Count: 3,781
    September 13, 2006 - 3:58 am

    Regardless of the name these properties all go to market the same as other’s. Usually to Auction to ensure a decent “market” price is achieved.

    Simon Macks
    Residential and Commercial Finance Broker
    ***NODOC @ 7.15% to 70% LVR***
    [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.

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