“On the Ground” ..we are seeing a small no. of residential “Mortgagee in Possession” sale properties which are not being advertised as such.

One of the ways to identify these ‘Mortgagee in Possession” sale properties is by obtaining the Contract for Sale.

By reviewing the front page of the Contract for Sale you may notice 3 items which may identify these properties as “Mortgage in Possession” properties, namely:

1. The “VENDOR” is a Bank as Mortgagee Exercising their Power of Sale

2. Shortened “COMPLETION” timeframe to 30 days (rather than standard 42 days)

3. “INCLUSIONS” are not guaranteed and may not form part of the sale (all items are crossed out)

To learn more and keep up to date with the latest property trends, contact Michael, Principal Buyer’s Agent at Real Property Buyers.