Would You Buy a $1.2M House for $950K? The Truth About Mortgagee Sales in NZ | Podcast 7 | #ASKGC

👉 Let's Chat on Whatsapp: wa.link/4wrwux Would you buy a $1.2M property for $950K? In Podcast 7, we break down the reality of mortgagee sales in New Zealand if they are a bargain, an opportunity, or a trap? We discuss how mortgagee sales work, what happens when a borrower defaults, buyer risks, property access, financing, valuation, insurance, legal costs and due diligence. 03:33 – What is a mortgagee sale and how does it work? 05:53 – What risks does a buyer take on? 09:26 – Mortgagee sale vs a normal property purchase 11:24 – Are mortgagee sales suitable for first-home buyers? 13:23 – What due diligence should buyers do? 16:37 – Legal costs and who pays them 19:01 – How to decide what a mortgagee property is worth 23:04 – Rapid Fire: Mortgagee Sale Questions 26:53 – Would you buy a $1.2M property for $950K? 28:32 – Due diligence, finance and occupant risks 30:08 – Final advice for potential buyers 📍 Based in Auckland, New Zealand 📲 Need personalised mortgage advice? Get in touch via the WhatsApp link: wa.link/4wrwux 👍 Like, Subscribe, and turn on notifications for weekly Mortgage Special Podcasts covering first-home buying, investment properties, refinancing, and more. 👉Subscribe on Youtube: https://youtube.com/@AskGC09?si=0jh6lhSU2olFcOkA 👉 Let's Chat on Whatsapp: wa.link/4wrwux 👉 Follow me on Instagram: https://www.instagram.com/askgc09/ 👉 Let's Connect on LinkedIn: https://www.linkedin.com/in/gauravchutani/ 👉 Follow me on TikTok: www.tiktok.com/@askgc09 👉 Facebook Friends? https://www.facebook.com/profile.php?id=61591279615870 The contents of this video are general in nature and not intended as personalized financial advice. We urge you to seek personalised financial advice tailored to your needs, goals, and circumstances before making any financial decisions. Results or benefits may vary depending on individual circumstances. NZMMI, Gaurav and its employees cannot be held liable by any person who relies directly or indirectly on the information contained in this video. #mortgageesale #propertyinvestment #newzealand