About MortgageeAuctions.co.nz
In May 2006, a young investor in Northland purchased the domain name www.mortgageeauctions.co.nz. He had been searching Google for mortgagee auctions, hoping to find a website that specializes in mortgagee property. To his astonishment, he failed to find any website of this nature. 18 months later, this site was professionally designed by a company in Christchurch (www.ibdg.co.nz). The site went live in December 2007.
Mortgageeauctions.co.nz is a real estate website, catering to the needs of investors, first home buyers and everyone else with an interest in property. It provides a valuable niche in the real estate industry.
Due to the current situation in the property market, mortgageeauctions.co.nz has received a lot of media attention. On Monday 11th February 2008, TV ONE News interviewed the director of Mortgagee Auctions, Jeremy Pyle, during the 6pm news slot. Cliff Taylor, a reporter from Nz Herald, mentioned the site in an article which was published entitled, “Debts start to bite homeowners". Campbell Live also reported on the website.
Mortgagee Auctions Ltd is the owner of www.mortgageeauctions.co.nz. This company owns a number of domain names that point to the site. These names include:
www.NewZealandHouses.co.nz
www.NewZealandHomes.co.nz
www.FreeRealestate.co.nz
www.CheapProperty.co.nz
www.HousingNewZealand.com
www.Bankrupt.co.nz
www.MortgageeAuction.com
A mortgagee auction is an auction of the borrower's property by the mortgagee (financier). It follows the borrower's default under his or her mortgage, service by the mortgagee of a Property Law Act notice requiring the default to be remedied within a specified period, and the borrower's failure to so remedy the default.
Under the Property Law Act 2007, the mortgagee owes a duty of reasonable care to obtain the best price reasonably obtainable as at the time of sale. Almost invariably, effective advertising is crucial in discharging this duty. That is where MortgageeAuctions.co.nz comes in. It enables the property to be advertised to an increasing number of people all at no cost to the mortgagee.
Mortgagee Auctions has aquired other great domains names such as: