HLM -Chapter 1189 We Want In Too

“Because there are too many people like you, that’s why the world has so little love left,” Li Xing said irritably.

Zhang Rui replied, “Let’s not joke for now. Old Wang, tell me more. I’m really interested in this.”

Wang Bo said, “There are quite a few issues with these houses. Sometimes the owners may maliciously damage the property—smash furniture, wreck the walls, take apart anything removable, and some even set the house on fire.”

Na Qingyang laughed, “That’s such a hassle. So, Brother Rui, would you still dare to buy one?”

Zhang Rui said firmly, “Buy it. We have no choice, we’re not rich.”

Wang Bo said, “No worries. I’ll get a real estate agent to handle this and check the title deeds for us. As long as the ownership is clean, the rest isn’t a problem.”

Li Xing clenched his fists and waved them, saying, “Exactly. Brother, this socialist iron fist isn’t just for show—it’s time for capitalism to feel its strength.”

The ownership of foreclosure properties is tricky. Some owners may take out “chain loans” or “loans within loans,” meaning the house could have multiple creditors. The new buyer might have to pay off all outstanding debts before truly owning the property.

Banks usually offer no guarantees to buyers. When the property can be officially transferred is uncertain, and previous fees—lawyers, maintenance, municipal charges, taxes—could all fall on the new owner. If the house is involved in legal disputes, banks aren’t obliged to inform the buyer. Some people find themselves sued after purchasing a foreclosure.

Of course, these risks are why foreclosed properties are cheap. There’s no free lunch in the world.

Property prices in the North Shore are low, and previously there weren’t many houses. After saving for a month, there were only about twenty foreclosed houses this time.

“That’s still few?” Zhang Rui exclaimed.

Wang Bo sneered, “Capitalism is cold. In the southern districts, hundreds of houses get repossessed and sent to court every month.”

Many people were attracted to the foreclosed properties. Before the auction began, the court’s spectator seats were full, and some were even standing in the aisles.

Wang Bo checked his phone and finally received an email, then began reading it carefully.

“What’s that?” Zhang Rui asked.

Wang Bo explained, “I asked Bartier’s assistant to send me the information on the houses being auctioned via their bank’s internal network.”

Banks have detailed analyses of all houses: owner status, property condition, interior renovations, appliances, furniture, whether there are chain loans, and more. All this information is included.

Zhang Rui said, “When I decided to come to New Zealand, my friends and relatives didn’t understand. They said I only knew a few classmates, so why go abroad?”

“And now?”

“Now I think the connections Old Wang has alone are worth more than all my friends and relatives back home.”

Wang Bo scrolled through the email and said, “Then talk to your other classmates, see if you can get them over. I’ll give you ten thousand for each person.”

Zhang Rui laughed, “Are you running a pyramid scheme? Paying per head?”

There were twenty-four houses. Wang Bo skimmed them quickly, then quietly briefed the three of them on the general situation.

“I suggest buying this Lishui Bay apartment. About 200 square meters, four bedrooms, two bathrooms, two living rooms. It’s a duplex. What do you think?” he said.

Zhang Rui exclaimed, “How much is that?”

Wang Bo looked it over. “Starting bid is fifty thousand, probably can get it for seventy or eighty thousand. Your funds are just enough to cover it.”

“So cheap?” Zhang Rui was stunned.

Wang Bo laughed, “It’s a foreclosure. Who’s going to pay high prices here? The location isn’t great, so prices there have always been low. A new apartment here would go for 250,000 to 300,000.”

Na Qingyang said, “Are there any others suitable? I want to buy one too.”

This is the advantage of insider information. With trustworthy info, you can make a lot of money.

Wang Bo said, “There’s a villa here, luxuriously renovated. Starting bid is 300,000, likely goes for 400,000. Want to go for it?”

Na Qingyang asked, “If it were new, how much would it cost?”

“This villa’s location is excellent. A new one would start at a million, many even go for two million,” Wang Bo said. “If Brother Rui had the money, I’d suggest he buy this one.”

“Why?”

“The ownership is clean, the interior and appliances are great. The owner fled with company funds, so there’s no dispute with the previous owner. Buying it would be perfect,” Wang Bo explained.

Na Qingyang grinned, “Then I won’t be polite—I’ll take this one!”

The four-bedroom, two-living-room apartment went up for auction first. The first property was a small one-bedroom, one-living-room apartment, starting at just eight thousand.

Zhang Rui’s jaw dropped. “New Zealand housing prices are insane. This is Auckland, equivalent to our Magic City [Shanghai]. If there were eight-thousand houses in Magic City… well, they’d be henhouses, not homes.”

“It’s the district and the fact that it’s a foreclosure. Otherwise, Auckland prices aren’t this low,” Wang Bo explained.

Li Xing asked, “Aren’t you going to bid? It would be nice to have a vacation place here.”

Wang Bo chuckled, “Even if I bought, it wouldn’t be here. Besides, I don’t buy anything under ten million.”

“You’re impressive,” Li Xing gave a thumbs-up. “Come on, find me a house too. Something more suitable. I don’t have a house in New Zealand yet.”

Soon, the Lishui Bay apartment went up for auction.

“…This house is located in the center of Lishui Bay, away from the main road, quiet and comfortable. Its area is 202.04 square meters, with four bedrooms, two living rooms, and two dining rooms. Luxuriously renovated, everything perfect. Starting bid: 48,000…”

Wang Bo raised his paddle. “Fifty thousand.”

Someone in the front row raised theirs: “Fifty-one thousand.”

“Sixty thousand,” Wang Bo immediately countered.

Hearing this, people around turned to look. Someone said, “A Chinese person! Where there are Chinese, there’s always high housing prices.”

Someone in the back row followed: “Sixty-one thousand.”

“Seventy thousand,” Wang Bo boldly raised the bid, showing off his wealth.

Zhang Rui nervously glanced around and whispered, “Should we bid like this?”

Wang Bo said confidently, “Relax. I know what I’m doing. In auctions like this, you cut the mess with a high bid.”

Sure enough, after two big raises, those interested hesitated and no one else bid. Wang Bo secured the apartment for seventy thousand.