How To Buy A Court Ordered Foreclosure In BC | 2022 UPDATE
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- čas přidán 6. 11. 2022
- How do you buy a foreclosure or "court ordered sale" in BC? Why do some properties get to the point of a forced sale and how do buyers go about purchasing these properties?
In this video, Surrey Real Estate Specialist, Steve Karrasch of Macdonald Realty walks through the process of purchasing a court ordered sale and everything you need to take into consideration prior to purchasing such a property.
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The opinions expressed herein are solely that of Steve Karrasch PREC and not Macdonald Realty or the FVREB and should not be misconstrued as advice or the basis of an agency relationship whatsoever. Please consult your professional advisor prior to taking action on any decisions relating to the matters discussed in these videos. This communication is not intended to cause or induce breach of an existing agency agreement.
I was in one of the tax sale properties and an employee did mention that in the entire history of tax sale only one property owner was able to get property back.. and prices were at least 20-30% less than the assessment price. Pretty sure no doubts w.r.t to risks associated with it, but depends on lot of factors though !
Thanks so much for making this. Appreciate it.
Thanks for sharing, I'm working on one of these right now
I bought my second condo here in Alberta as a foreclosure. Agent explained it all. Property was vacant so no issues there. Turned out in such good shape I moved in and rented out my previous one. bought”as is” so had to do a lot of research. Used inspector and spent a week going over condo docs. Very good experience and agent made sure understood the entire process. The seller was a bank.
Thanks for sharing! Condos in Alberta sound like a deal!
Did you applied for loan?
@@ahamedularefin9426 yes all went well
How long we get court date after accepting offer ??
@pilotgirl5953 hey I would love to chat with you about your experience.
Hey! As a hopeful "junior investor" myself, I want to thank you for your helpful videos. I've lost out on a couple court ordered foreclosures in the last year, and I'm trying to walk the tightrope between continuing down this potential fools errand of trying to find a hoarder/foreclosed project and just jumping into something guaranteed/unsold for months.
Good luck. I wouldn't ever touch a foreclosure myself even as a not so junior investor.
I have been selling for almost 3 years and your videos are freakign awesome so thank you for you!!! Sincerely Dp in Kamloops
Thanks for watching!
thanks in advance
Thanks for your informative video. I'm looking at a situation where the court order sale is in place. I haven't submitted an offer yet. I still need a clarification. The home is EXTREMELY FULL of the occupant's ( a hoarder) belongings. A lot of the hoarded stuff in the unit has a reasonable value, but it would take a long time to remove & deal with it.
Question - does "As Is" actually mean the contents of the home 'ARE' or 'ARE NOT' included in the sale ? Also, what kind of time frame is typical to organize a vacant possession done ?
It means, the day you open the door (on possession), you get what you get. Maybe they moved out with their stuff, maybe not.
@@SteveKarrasch thank you
Do Bank finance for auction sells? or I have to pay in full cash?
No auctions in my area, so I can't comment.
how to find these forclouser , is there a website to find them or I have to ask a realtor to search for them I just wanted not waist anyone's time and see if any thing worth to see, I am in Vancouver BC.
This is a big secret….except for the ones you see online on mls etc with a schedule a notice….careful, mold and water damage would be horrible.