5 Tips to Find Foreclosed and Bank-Owned Homes on the Australian Property Market

You may have noticed that lately, property investors in the market are hunting on a budget. While people buying their first home are eligible for limited deposit charges thanks to government action, they may need to look for inexpensive properties with a mortgage they can afford. 

This is when you could assist first home buyers or investors on a budget with buying a foreclosed home in Australia. These vacant properties have been claimed due to poor past ownership or missed mortgage payments and eviction. They’re put on the market at meager prices, which makes a great option for buyers with limited spending abilities or looking for cheap renovation projects. 

For some help finding foreclosed homes to show new buyers and investors in the Australian market, try these tips:

1. Start Driving

You can take full control of your hunt by spending time driving through neighborhoods that tend to be on the rougher side and searching for ‘For Sale’ signs. Homes for sale in poor neighborhoods are more likely to be foreclosed. Keep in mind that this type of searching may take you some time and cost gas money.

2. Review Bank Websites

If a bank gave loans to people who couldn’t pay them back, they would claim the house and sell it in an auction. If it’s not claimed, the home is lender-owned or real-estate owned. To find these properties, you can scope major bank websites and connect with REO specialists.

3. Watch for Pre-Foreclosure Auctions 

A part of the pre-foreclosure process often involves an auction enforced by the lender or mortgagee. The possessions in the potential home mortgage foreclosed properties are claimed by the lender and then sold to potential buyers to make profits intended to pay off the overdue mortgage. This process can sometimes be successful for the residents to pay their debt. However, it’s often a predecessor to eviction.

4. Finding Foreclosed Homes in Property Auctions

If the mortgagee has claimed the home after the auction of possessions was unsuccessful, the property will be entered into an auction available for bidders to submit offers. Many home mortgage foreclosed properties will be in these auctions, starting at low prices for quick and easy selling. 

5. Try Real Estate Marketing Lists

Save yourself the time, energy, and hassle of finding foreclosed homes by relying on automated real estate marketing lists that cover any Australian neighborhood of your choice. These generated lists do the heavy lifting for you, so you’ll have all the resources available for your budgeted first-home buyers or foreclosed property investors. 


Buying a foreclosed home in Australia is a great safe bet to show buyers with limited spending options or wanting to scrap a cheap or damaged pre-existing property for renovations. However, they can be tough to find without some help.

As a buyer’s agent, you need to be on top of everything available on the market in your area for your various clients. While this can be challenging for one person, Radius Suburb makes it possible. Sign up now for tailored real estate listings of any suburb for any price range.

About Real Estate List Provider

Gain access to any suburb in Australia for an extremely cost-effective prospecting and real estate marketing lead solution. One price for any suburb in Australia, regardless of how many real estate leads there are. Radius Suburb will provide you with highly valuable, washed data to help generate real estate marketing sales leads with higher conversions.

'5 Tips to Find Foreclosed and Bank-Owned Homes on the Australian Property Market' have 13 comments

  1. Avatar for Real Estate List Provider

    April 14, 2022 @ 7:19 am sav

    I am interested to purchase a bank Repossed property in Hobart.


    • Avatar for Real Estate List Provider

      November 23, 2022 @ 10:36 am Tania

      I’m interested to purchase foreclosure property in qld prefer acreage or rural property
      I can spend 300k for property no bigger than 10 hectres


  2. Avatar for Real Estate List Provider

    April 15, 2022 @ 8:42 pm Peter Lambos

    Looking for a house in Townsville budget 250k


    • Avatar for Real Estate List Provider

      October 16, 2023 @ 8:56 am Sunny

      I’m looking for a foreclosure property in Melbourne.


  3. Avatar for Real Estate List Provider

    May 17, 2022 @ 1:09 pm michele

    looking for a mortagee home in gold coast around oxenford, coolambah


  4. Avatar for Real Estate List Provider

    July 25, 2022 @ 8:13 am Allan Butler

    Im looking for cheap repo house around $300,000 in Perth Western Australia


  5. Avatar for Real Estate List Provider

    August 13, 2022 @ 11:42 am jim

    I’m looking to buy a property in South Perth – WESTERN AUSTRALIA


  6. Avatar for Real Estate List Provider

    September 16, 2022 @ 6:10 am salim taj

    i am interested in units or apartments in vic Australia. better if it needs clean up and reno.


  7. Avatar for Real Estate List Provider

    November 27, 2022 @ 12:11 am tania

    Hi I am looking for repo rural /farm property in QLD around 300K, must be council approved


  8. Avatar for Real Estate List Provider

    April 10, 2023 @ 2:12 pm Interested Buyer

    I am interested in house


  9. Avatar for Real Estate List Provider

    April 26, 2023 @ 9:21 am Dave

    Looking for a foreclosed house on the Gold Coast. The more work that needs to be done to it the better


  10. Avatar for Real Estate List Provider

    August 29, 2023 @ 9:41 am Tee

    Hi I’m looking for a foreclosed house for sale in Melbourne, VIC.


Would you like to share your thoughts?

Your email address will not be published.

Phone: (08) 9223 2400
Free Fax: 1800 999 019
© 2019 PrintForce Australia Pty Ltd.