Buying a Foreclosure with your Whistler Realtor®

  1. Submit your offer to the owner/bank.

  2. Once it is accepted, conditions removed and deposit received, it will trigger the court date which typically takes 2-4 weeks.

  3. During this time anyone else can still view the property and your accepted offer amount is public knowledge.

  4. If another person is willing to pay a little more than your accepted offer they can attend the court date and also submit an offer.  If no one esle shows up to the court date then the property is yours.

  5. If there are other offers, you have one last chance to increase and resubmit your's in a sealed envelope to the judge.  All offers have to be clean (subject free).

  6. The judge will view all offers and look at a few things. 1.The price.  2.The Completion Date.  3.The Deposit.

  7. The judge will then decide based on those 3 things who has the best offer and approve the sale to that person

The person with the highest price isn’t always the person who is going to win. When the bank takes control of a house it cost them money everyday to maintain it (taxes, utilities, strata fee's etc.).

For example:  The original offer is $300,000 with a 90 day possession date and the subsequent offer is $300,000 with a 30 day possession date then the judge would consider that to be a better offer. The judge won’t just look at the price and possession dates, they also look at the size of the deposit. A big deposit is always a good way to show the judge how serious you are, a big deposit will also increase your chances of winning a foreclosure property.

Sea to Sky Foreclosures

No listings found.
Listing information last updated on September 26, 2018 at 03:26 AM (UTC)

*FOR A COMPLETE LIST OF FORECLOSURES, PLEASE CONTACT ME AND SPECIFY THE AREAS YOU ARE MOST INTERESTED IN.

Search Listings Now!

Ready To Sell?

Insider Access