Scheduled
6d left
Mount Isa City Council, Queensland
4 Mary Street
10 Sept 2026
Amount owing not publishedCheck the official source
View Details →Loading…
Explore sales of land for overdue rates and charges published across 11 councils in Queensland (QLD), with the state capital in Brisbane. Data from official sources, updated daily.
A mortgagee auction is run for a lender — usually a bank — enforcing a mortgage after the borrower defaults. Once the borrower falls far enough behind and the required default notices have run their course, the lender takes possession and exercises its power of sale to recover the outstanding loan. For a buyer it often looks like a normal auction, but the seller is a lender rather than an owner, and the property still sells as is.
Updated daily from official sources · 2026
After a borrower defaults, the lender issues the default and possession notices required by law. If the default is not remedied, the lender takes possession and sells the property under the power of sale in the mortgage, or under a court order. The sale is usually by public auction or private treaty through an appointed agent, with a reserve tied to the outstanding loan plus enforcement costs. A deposit is paid on the day and the balance at settlement through the Land Titles Office. The borrower can repay the arrears — or the whole loan — to stop the sale up until it is completed.
The borrower falls behind on mortgage repayments. Interest and default costs accrue while the arrears build up.
The lender issues the statutory default notice and, if the default is not remedied within the required time, moves to take possession of the property.
The lender takes possession as mortgagee-in-possession, either with the borrower's cooperation or through a court order for possession.
The lender appoints a selling agent or auctioneer and sets a reserve, generally tied to the outstanding loan balance plus enforcement costs rather than a full market valuation.
The property is advertised for auction or private treaty. Order a title search and confirm which mortgages, easements, and other interests the sale will clear before you bid.
The property is offered at public auction or by private treaty and sells to the highest acceptable bid at or above the reserve. The borrower can still repay the arrears or the whole loan to stop the sale until it completes.
The successful buyer pays a deposit (commonly 10%) and signs the contract of sale on the lender's terms, which often limit warranties and disclosure.
At settlement a Torrens transfer is registered at the Land Titles Office and title passes to the buyer. Any surplus after the loan and costs goes to the borrower or a later mortgagee.
Investor tip
The reserve at a mortgagee auction is tied to the debt, so it can be sharp — but the lender owes duties to the borrower to obtain market value, so reserves are rarely giveaways. Order a title search, confirm which mortgages and interests are cleared, and expect the property to sell as is with limited disclosure and vacant possession not guaranteed.
Get daily email alerts when new rate-sale properties are published in Queensland. Filter by council, price range and property type. Free to get started.