Mortgagee sale – investment opportunity
Apartment 119 at Portside Hotel Gisborne is being offered for sale under mortgagee instructions. The ground floor studio apartment is leased to Portside Hotel and is used by guests on a short stay basis. Located close to the centre of Gisborne City and near Waikanae Beach, Portside Hotel enjoys good patronage. Details of the sale can [...]
Auction Results 21 & 22 March
Six properties were offered for sale by auction this week at LJ Hooker Gisborne. All six were residential representing a cross section of available homes. There was a 50% success rate under the hammer. 18 Ruru Avenue sold for $265,300 after four bidders sought to own the low maintenance 3 bedroom home in Lytton West. [...]
3 out of 4 auctions sold
It was a good day for sales at LJ Hooker Gisborne when 3 out of 4 residential properties sold under the hammer. 5 Elsdon Best Street, Riverdale was offered for sale under mortgagee instructions. The property drew a positive response during the marketing programme with over 30 buyer inspections. It came down to 3 active [...]
Spirited bidding on Moana Road
58b Moana Road sold on Wednesday for $335,000. Located on the Pacific Highway at Okitu, Wainui Beach Gisborne, the three bedroom ”initial home” drew good interest from half a dozen bidders before it sold under the hammer at the on site auction. A local resident purchased the property. “Being offered as a mortgagee sale drew [...]
Another Wainui opportunity – mortgagee sale
Next Wednesday 29 June 2011 will see 58b Moana Road offered for sale under Mortgagee instructions. The three bedroom “initial home” is located on a rear site on the Pacific Highway at Okitu, Wainui Beach and has alot going for it. Being a relatively low maintenance property and less than 20 years old, it makes for [...]
Mortgagee sales not a sure thing
Just because a property is being sold as a mortgagee sale does not mean that it will sell at a cheap price. Banks (the mortgagee) don’t usually sell a property at any price. They have constraints. Often it has to be in a range of fair market value, albeit at a low level. If the [...]
A sad day today- we are selling 3 properties
Normally I would be excited by the prospect of selling three properties at auction. But that is not the case today. The three investment properties are mortgagee sales, all owned by one client. The young couple who bought them only a few years ago had a dream of securing their financial freedom, a vision of [...]
Mortgagee Auctions Draw Strong Interest
Bargain hunters were able to buy waterfront property for less than half the price paid by the last owners at a mortgagee auction conducted by Hookers in Gisborne yesterday. One apartment in the popular Portside Hotel development went under the hammer for $90,000 and another, fronting the swimming pool and port, went for $104,000. Both [...]
