Sunday, 13 May 2012

Pick up a deal in UNPAID RATES AUCTION

"if you are getting blog via email click above heading for missing pictures and video"

Just think about the bargaining power you have with properties that really have to be sold.
Some are rates default, others are just appointed. 

Before you read below look at some I found
Want to see some , click the links , they are previous and current unpaid rates properties or simply public trustee Auctions. This means council will force the sale, or else someone died or went to jail or something and just appointeted the public trustee to handle the affairs. These properties are easier to buy since the emotion of the seller is not there and hard negotiation can take place.

How did I find them? 
I am a buyers agent and this is my job find opportunity. 

For practice do the numbers on below see what they would be worth pre and post a reno or subdivision ....just click below headings.

Just click the links to view......

Forced sale for unpaid rates

  SIX Bundaberg region properties are set to be auctioned at the end of the month due to unpaid council rates, with some owners in arrears by almost $60,000.
The five vacant blocks and one residential dwelling - located in Bundaberg Central, Walkervale, Thabeban, Cordalba and Delan - have more than $100,000 outstanding, and are the most to go to auction since amalgamation in 2008.
Bundaberg Regional Council chief executive officer Peter Byrne said initially there had been seven properties to go to auction, but full payment had been made on one within the given time frame.
A 116sq m vacant block on Maryborough St has a whopping rates bill of $56,644 - the highest amount owing of the six properties.
"It's a unique piece of land, in that it is a laneway that has been carried over from a deceased estate," Mr Byrne said.
"There are several access easements over the particular block and therefore advice has been received that it would be of little benefit to any purchaser."
Mr Byrne said most of the $56,000 charge was interest accrued over "many years".
The residential block on Buzza St, Walkervale, is in arrears by $13,171, and is the first residential dwelling to proceed to auction since amalgamation.
"Since amalgamation there was one vacant block in 2011," Mr Byrne said.
"In 2010 there were four vacant blocks, (and) in 2009 there were two vacant blocks."
Mr Byrne said selling off the properties was an "absolute last resort" by the council.
"We make every effort to allow the owners to pay their rates in regular instalments," he said.
The sale is by public auction and will be conducted in the upstairs function room of the administration office at 190 Bourbong St on Wednesday, May 23.
The auction will start at 10am.
Mr Byrne said a reserve price would be fixed and, if not realised, the council would be deemed to be the purchaser at the reserve price.

Unpaid council rates force house auctions

COST-of-living pressures were rammed home yesterday when council sold three homes at auction to recoup unpaid rates.
One property sold for $355,000 less than its purchase price.

The three-level, three-bedroom house on 647sq m at 16 Vantage Point Drive, Burleigh Heads, was bought by Philip and Michelle Blackwell for $900,000 seven years ago and sold yesterday for $545,000.
  The second property, a unit in the Mediterranean East tower on The Esplanade at Burleigh Heads, realised $215,000.
The third, a 1732sq m vacant site at 20 Ladds Ridge Road, Burleigh Heads, was passed in on a bid of $220,000.
Negotiations for purchase of the land, which has a site value of $285,000, began with the high bidder following the auction.
Nine of the 12 listed properties were withdrawn after the rates arrears were paid.

Yesterday's auction follows a similar event on May 4 to recover rates debts and the council has scheduled a third for May 14.
A council spokesman said of the 21 properties scheduled for sale last Friday, only five were auctioned.
He said the situation was similar with next Monday's auction, with eight of the 13 properties initially listed now withdrawn following payment of debts.

"Council undertakes such auctions only after all other options to resolve the debt have been exhausted and only when rates and charges are three years or more in arrears," the spokesman said.
"Over the past three years, of 24 properties that were advertised, only a small number have been sold for overdue rates and charges.
"Properties are withdrawn from sale as soon as payment for outstanding debt is received and the council monitors this up until the auction."
A report released by the Department of Local Government in September showed one in six, or 15.9 per cent, of Gold Coast ratepayers were in arrears with their rates in the 2009-10 year.
It also showed Gold Coast ratepayers were slugged with some of the highest rates in the state, with the city placing seventh among the 52 Queensland councils examined.