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Advertising for sellers?

Discussion in 'Innovative Techniques' started by hammer, 8th Feb, 2016.

  1. hammer

    hammer Well-Known Member

    Joined:
    28th Aug, 2015
    Posts:
    418
    Location:
    Darwin
    I'm in a tanking market (Darwin).

    I have on reasonable authority that there are lots of distressed properties but that the banks and agents are releasing them slowly to avoid carnage.

    Anyway, I'm thinking that I'll soon be able to advertise and find the people in trouble directly. Get them out of trouble and nab a bargain.

    Anyone ever done this? What were the gotchyas and what it the best way to do it ethically?
     
  2. Paul@PFI

    Paul@PFI Tax Accounting + SMSF Business Member

    Joined:
    18th Jun, 2015
    Posts:
    2,392
    Location:
    Sydney
    Telegraph poles - "I buy homes for cash 0400 69XXYY" seemed to be all the range once. No idea if it stopped as it was a waste of time.

    Cash and fast settlement was always the offer. Problem will be lender co-operation if there is negative equity. All your effort wasted if lender refuses sale. And any fees, deposit etc. You could be buying a trashed home too.