A Wellington home set to go to auction this week despite nobody being allowed onto the property has been saved from sale.

The two-bedroom property in the suburb of Brooklyn was listed for mortgagee sale - but potential buyers were warned it was kerbside viewing only, and they'd be unable to go inside until they had bought the house.

Harcourts agent Graeme Knott said it was the nature of mortgagee sales, which happen when the owners of the property default on their payments.

But it was good news for the homeowners this week.


"The auction's been called off because the existing owner came up with the mortgage. That's great for them," Knott said.

"There's nothing worse than losing your house, so it's ended well."

It's a similar story to a case earlier this year, when a bungalow in Island Bay also went up for mortgagee sale.

The three-bedroom house at 98 The Parade was to be sold "from the roadside" in June, but was able to be saved at the eleventh hour.

"There were two mortgages on the property, so the second mortgagee paid out the first mortgagee with one day to go in the tender process," sales consultant Warrick McCluskey said.

"They then refinanced the property.

"You've got to be happy for the family."

Denize Trustee Company Limited owned the property. The trust's director is businessman Jonathan Denize, the former owner of the Nosh supermarket franchise which went under last year, owing staff more than $300,000 in wages.

Denize has twice been declared bankrupt.

McCluskey said in the cases of mortgagee sales where buyers could not view the inside of the property, it was important to remember there was often "a lot of turmoil" behind the scenes.

"You've got to appreciate the individual circumstances."

In such cases, potential buyers are encouraged to seek legal advice before making an offer or bid.