Post # 1
I’ve been having issues getting information about Canadian Foreclosures, as when I search most of it ends up actually being about the states. (Oh how I miss the google.ca ‘Canadian only’ option). Yes, I am including Canada in my search terms.
What are the differences between buying other houses?
Also, I am aware there are different stages, but I’m unsure of the details. Could someone explain? When I’m using an MLS search from a real estate’s agent site, what stages are included?
I will get way more information from a real estate agent or realtor before I make such a large purchase, but I want to be semi-informed once I really start my search.
Post # 3
I felt sorry for you 🙁 and your plea post lol
I had a look and found these two sites that had info on Canadian foreclosures. Not sure if it is the info you are after though but I hope it helps.
One and Two
Post # 4
@j_jaye: Thanks! The second link is what I’m looking for and I read the milliondollarjourney blog from time to time already. I guess I need to look through PF and some other sites and search that way beyond just the frustrating google search!
What would be really awesome is if someone here has bought a foreclosure in Canada, or at least knows something about it. Links are great too though!
Post # 5
Is there a canadian board on here? Maybe try posting there! I have no experience in buying a foreclosure in Canada 🙂
Post # 6
Hmmmm could you perhaps call a realtor and ask? I know nothing about Candian foreclosures so I’m no help, sorry.
Post # 7
You can still google Canadian only sites! After you do your search look on the left hand side of the search results and under “the web” you can click “pages from Canada”
When looking resale we saw a few foreclosures! Are you working with an agent yet? I found foreclosures don’t happen perhaps as often as they do in the US and they’re commonly listed in amoungst regular listings. The ones we saw were all definitely in rougher shape, but it was also reflected in the price as well. I think the biggest thing to consider when looking at them is the potential! The people didn’t care to pay the bills, let alone maintain a house to what you would consider acceptable! Some of the houses we saw would have needed new drywall (sometimes just in a room or two, other houses the entire house) and generally new flooring too -so you have to be okay with that within your budget! We ended up going with a new build, so I definitely am no help through the purchase process, good luck!
Post # 8
@Beebug: Thanks! I really missed that little option, I’m glad it’s still there in a way.
Not seriously looking yet, just figuring things out, so I don’t have a realtor yet.
One of the MLS search pages I use lets you click on ‘foreclosures’, but I think some of them are at the initial stage, and are still being sold by the owners and not the lender. Many of them also seem to be new builds where the builders stopped doing things, I guess when people couldn’t afford to pay them. Here for a new build, you usually pay the downpayment in increments. Many of those houses even say that landscaping will be completed, voucher for appliances, home builders warranty is included, etc.