A mortgagee sale happens when, as a result of the mortgagor not meeting their obligations under the terms of the mortgage, usually in not meeting their mortgage repayments, the mortgagee exercises its power of sale. The property is sold, after completing a legal process, to recover its debt.More Info...
Buy property - Different ways to buy
There are several ways of buying property in New Zealand, and when you’re making a big investment it’s important that you understand how they work.
The key to successfully buying real estate is to gather as much information as possible about homes on the market in your preferred area and in your price range. That way you’ll have a good feel for the relative values of properties.