PHOTO: SUPPLIED – People will have to make their decision on buying the home based on photos as the owner will not allow access to the property.
A mortgagee sale “gone septic” has left a Whangarei real estate agent stuck with trying to sell a house nobody can go in and view.
A mortgagee sale is one instigated by a bank or lender owed money on a property, when the loan is no longer being serviced.
Mortgagee sales are usually seen as the last resorts for banks and real estate agents because they are often sell at a lower price to recover debt owed to the bank.
But unresponsive property owners can drive the property price down further, making the process that much harder, Eves real estate agent Karl Leathley said.
“Nobody really wins with a mortgagee sale,” Leathley says.
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