On Property Podcast

What are public trustee options? Do you ever buy these properties and what are some of the pitfalls? Public trustee auctions are a way to purchase property off the government and the great thing about buying at public trustee auctions is that the property has to sell on the day. When the property goes to the public trustee it is usually because it's a mortgagee repossession, it's a deceased estate with no known family members in the country or no family members that want to be involved in seeing the property sell for a premium price point. You may also have properties at public trustee options that have been through fires and are extremely difficult to sell. You could also have properties with major termite or pest infestations or damage or other issues along those lines. When purchasing from a public trustee they often won't give you any indication of price. They will just take the highest price from the day, but even still this is often much lower than the general market value of the property.