| Who is Gov Property Auctions?
GovernmentPropertyAuctions.com.au is Australia’s #1 provider of rate defualt property listings. We feature a large inventory of properties that are up for auction due to the owners not paying their council rates as well as bank and government owned real estate including the Department of Housing. Our goal is to help residents from all around Australia to save money when purchasing real estate.
What are other names for Government Property Auctions?
Other names include: Rate Default Auctions, Government Foreclosures, Sale of Land for Overdue Rates; Sale of Land for Unpaid Rates, Distressed Properties, Sale by Sheriff, Council Auctions.
What is a Rate Default property?
A rate default property can be vacant land, house and land, or land with another type of building erected e.g. commercial/retail or industrial premises. It is when the title owner has defaulted on their annual rate payments to the council over a long period of time. Usually by 3-5 years or more. The council then has the legal right to sell the property through public auction to someone who can afford to maintain the property in the future and afford to pay the outstanding rates to date.
How much will it cost to purchase a Rates Default property?
The cost of a rates default property is dependent on how much is owing on the property’s rates, if there are any mortgages or other monies owing. The council will also decide if the total money owed will be the reserve price or if they will use the UCV for the auction. This varies between states and councils.
Are rate default properties listed with other Real Estate agents?
Not usually. Listings are usually only advertised in government paraphanalia and the auctions are usually held in council offices. At times where there is little interest the council may list the proeprty with an agent.
What should I know before attending a Rates Default auction?
Depending on the state and council you may be required to lodge a 10% deposit on the day of the auction and the balance due in 30 days. Some councils require the property to be paid in full on the day of the auction. Legal fees and stamp duty will also be payable. Make sure you check all these details before attending the auction. Always call before you leave to attend the auction as the rates may have been paid at the last minute or the date of the auction may have changed.
Is this site affiliated with the Australian government?
No. we are not affiliated with the Australian government, federal, state or local. We do however list properties they put up for auction.
Will my membership be automatically renewed when it expires?
Yes your membership will be automatically renewed unless other advice has been received or you have unsubscribed from the service.
If you can't find an answer to your question, please email us at info@governmentpropertyauctions.com.au |
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Can I save alot of money buying rate default properties?
YES, you can! There are many people buying rate default properties and saving an enormous amount of money doing it. This is because a rate default property is being sold by the local council and most often they just want to receive what is due on the rates, costs and interest and is usually well below market value. This means a great opportunity for you!
How often are listings updated?
Listings are updated weekly and inline with periodical releases of government gazettes and sheriff sales.
Are there a lot of listings?
Yes there are many listings all over Australia. Keep in mind that general rate default properties are not usually found in very expensive suburbs. They are usually found in the outer suburbs and rural and country townships. Most people that live in the more expensive suburbs can usually afford to pay their rates! Listings of sheriff sales in the more prominent suburbs do occur occasionly although these do attract a large amount of people at auction and this demand usually pushes the property price up.
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