Davo has bought at mortgagee sale before hence why it hasn't been mentioned.
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Great story
Originally posted by Bluekiwi View PostI bought a place by mortgage sale without seeing the inside.
Place sort of looked famaliar and I couldnt place it.
Then a week before the auction it slowly came back to me, that it was my old boss's house from about 15 years ago, and I had actually been inside the house before.
And I knew exactly what he had dont to it after he bought it, the addition he did, and what the inside looked like.
Of course, it did take 3 months, 20 police and court officials and 4 squad cars including the squat team truck and the paddy wagon.
I can email the pictures if people want to give me their email address.
It was my time in the sun to get some tax payer dollars back.
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I have purchased a number of mortgagee sales myself over the years, I used to only purchase ones where the owners had actually left or if they hadn't I would knock on their door and talk to them, if all seemed ok I would bid on it. Only once had to get someone evicted and it was a tenant we took on with a mortgagee purchase, she just stopped paying after a few weeks. Possibly was part of the old owners problem in the first place, did a little bit of damage when she left too but nothing major, at least she didn't strip the inside like owners sometimes do
This this one will be a bit more work maybe more like bluekiwi had to go through still sure you will find a way to move them on if you have to
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Originally posted by Davo36 View PostBK - Yes Tane What'sHisHame caused you a lot of grief aye.
Yeah I find mortgagee sales don't go for a whole lot less than normal sales.
I bought it for 235k, when others were set to bid up to at least 300k and he put them off.
Now its value is 470k.
So after 5 years I am at least 200k ahead.
But certainly property has its ups and downs.
Keep us up to date on how this goes Dvao, will be interested to hear what it sells for.
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Just had the call from the agent 1 min ago SB! My tender was not successful.
I asked if he could say what it sold for, he said it hasn't sold, the owners and the bank have come to some sort of arrangement which is acceptable to the bank.
And this happens quite a lot of course, another reason not to spend too much time and effort on these things.Squadly dinky do!
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Originally posted by Davo36 View PostYeah sorry. But it's like that so often. Get bored with the whole process actually, so haven't bothered with doing any in recent years.
And you got to be financed with your ducks in a row, to be able to win.
Its a lesson, I should have learnt at school age when I was useless with the ladies.
Get rejected 19 times who cares, then that 1 in 20 times you get lucky.
Mmmm... I think I will just stop there, I am making myself sad.
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Here's a little do up you can focus on instead.
Investment guru abandons mansion
A neglected mansion on the exclusive Wharekauhau Lodge estate in South Wairarapa has been put up for mortgagee sale after it was abandoned by its owner, American business guru James Dale Davidson.He and his second wife Taciana would fly from Wellington by helicopter. They enjoyed relaxing and dining at the lodge and shopping in Martinborough and Greytown.He has been a director of several New Zealand listed companies and is an acquaintance of former Labour finance minister Sir Roger Douglas.
Sir Roger, who first met Davidson at a conference in the US in the 1990s, said he was surprised to hear his house was up for mortgagee sale.
He described him an interesting man, politically to the Right, with strong views on taxation.
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