Matt Bowdens mortgagee sale - Sold well under CV.

[jimO]

tuff luck,

the comment that was removed may or may not be offensive, no problem, he is responsible for one of my mates sons going from a good normal 17 year old to a addict who is now in the court system and will probably never reach anywhere near his potential, i put people like Bowden on the same level as that other crim who is currently in the news

[PTWhatAGreatForum]

Tough bikkies to him.

"Synthetic" weed (cannabis) is nothing like cannabis. I only ever tried it [synthetic] once and it was not a good experience. Nothing like the real stuff.

My heart bleeds for him... not.

[Frezzinghot]

The scumbag lost his dough and now he's suffering from lack of cash. Too Bad How Sad. I feel for his children though.

Again, thread was started to highlight what the banks can and will do in a mortgagee situation, NOT what this scumbag got up to. I certainly do not condone the sale of his products, especially to young people.


FH

[Razzzor]

Looks to me like the guy had poor business savvy. Managed to make some money, but when he had it got comfortable and lost it all by pissing it away on stupid things, of course owed IRD nearly $1m - why is it when companies liquidate it's always IRD they owe the most to. Those are the first ones you pay! And that old wooden thing on the top of the cliff? No wonder it didn't sell.

He would have known his party pills and synth cannabis were businesses that wouldn't last, and should have safely invested what he made out of it, not bought idiotic mansions.

[img] http://media.nzherald.co.nz/webconte...N6_620x311.jpg [/img]

[Razzzor]

Looks to me like the guy had poor business savvy. Managed to make some money, but when he had it got comfortable and lost it all by pissing it away on stupid things, of course owed IRD nearly $1m - why is it when companies liquidate it's always IRD they owe the most to. Those are the first ones you pay! And that old wooden thing on the top of the cliff? No wonder it didn't sell.

He would have known his party pills and synth cannabis were businesses that wouldn't last, and should have safely invested what he made out of it, not bought idiotic mansions.

[Wayne]

I think that is the bach not the house - there was a bach on the property also.

[tulips]

Reserve was 600K below reserve, which would have been the banks debt. Only one bidder, looks like a set up but who knows.

And you would know all about set ups !

[tulips]

the comment that was removed may or may not be offensive, no problem, he is responsible for one of my mates sons going from a good normal 17 year old to a addict who is now in the court system and will probably never reach anywhere near his potential, i put people like Bowden on the same level as that other crim who is currently in the news

Could the delay in removing party pills from your local dairy
be because Peter Dunne son was Bowdens lawyer ?
Old bowtie has good natural cover though with being a
slow useless pr.ck at the best of times !

[PTWhatAGreatForum]

Reserve was 600K below reserve, which would have been the banks debt. Only one bidder, looks like a set up but who knows.

Make no mistake. Banks are "fair weather friends" and ruthless ****ers. No top of that, this guy causes red flags on all 3 C's of lending: http://www.practicalmoneyskills.com/...istory/3cs.php including "character" I can't imagine the bank was too optimistic about his reputation and chances moving forward.

Another article from last year:

http://www.stuff.co.nz/business/money/64093828/forced-home-sale-shortchanges-couple.html

[speights boy]

My friend is looking to buy a house around 1m around Auckland, I have sent him along to bid at the other one tommorrow.

Browns Bay.
Your mate buy that ?

His other property, a four-bedroom 1960s house in Browns Bay, sold recently for $895,000 - $145,000 below its CV.

[eri]

2 sell under

biggest? sells over

Mr Bowden's family home, where he has been living for two years, sold to an Auckland man at a mortgagee sale for $1.8 million.

Unlike his other properties, which both sold well below their CVs, the property sold above its valuation.

It's current CV is $1,460,000.

"There was about 40 parties involved and eight or nine that partook [in the auction].http://www.nzherald.co.nz/business/n...ectid=11489959