News

Buyers get heavy discount at mortgagee sales

Tuesday 12th of June 2012

It comes after reports that the number of mortgagee sales is increasing – there were 524 nationwide in the first quarter of this year, according to Terralink International.

Telfer Young Valuer Andrew Chambers, of Hawkes Bay, said properties at forced sales in his area had sold for everything from 40% below market value to 3.5% below. He said most would go for 20% to 25%...

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