Does anyone know where to look at home properties which are sold due to the fact that they are taken back by the banks? (Victoria) Is there a specific property home agency which is owned by the banks?
Hi,
Welcome to the community.
I'm not aware of a specific database that records this after the sale.
If you are looking to buy foreclosed properties pre sale, then again I'm not aware of a specific service. Lenders have a duty to get the best possible price for sellers and although mortgagee auctions attract attention, lenders will go to auction rather than risk being seen to do a deal on the side with a client on fav. terms.
Merry Christmas,
– Steve
Steve McKnight | PropertyInvesting.com Pty Ltd | CEO
https://www.propertyinvesting.comSuccess comes from doing things differently
Hi springrose,
If you're after houses that have been foreclosed I've read that you can ask real estate agents if they have any REO's (Real Estate Owned). Unfortunately, most real estate agents aren't too proud about having REO's so are very discrete about them.
I think you can also ask at a real estate attorneys office or a court that handles real estate in this manner.
The book I read was called "How to Find Hidden Real Estate Bargains" by Robert Irwin. Here's a google book preview:
Cheers,
Lance
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