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Foreclosure Condos for Sale

Explore BC foreclosure condos for sale, including court ordered condominiums throughout Metro Vancouver and the Fraser Valley. This page features current MLS® foreclosure condo listings, from affordable apartments to larger and luxury strata homes. When buying a foreclosure condo, it is especially important to review the strata corporation’s financial position, bylaws, meeting minutes, insurance, depreciation report and any current or proposed special levies. Browse the latest available properties below and check back regularly as new foreclosure condos are listed.

BCFSA specifically identifies the Form B, strata fees, contingency reserve fund, litigation, parking/storage information, current budget, depreciation report and other strata records as important buyer information.

Foreclosure Condos for Sale in BC – Court Ordered Condos

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1-20/127

  • 804 1500 Martin Street, White Rock - White Rock

    804 1500 Martin Street White Rock White Rock V4B 0C2
    Main Photo: 804 1500 Martin Street, White Rock - White Rock

    804 1500 Martin Street White Rock V4B 0C2 White Rock

    $768,000
    Residential
    Status:
    Active
    MLS® Num:
    R3159427
    Bedrooms:
    2
    Bathrooms:
    2
    Floor Area:
    1,119 sq. ft.
    WOW!!! Prime FOSTER MARTIN THE LANDMARK by Landmark Premiere Properties. Prime upscale residences in beautiful White Rock. Wake up to the crisp seaside air, in the evenings take in the partial ocean view from 2 balconies. Located close to transit, shopping, restaurants, entertainment venues, and recreation or walk down to the pier and enjoy the ocean with summer concert series. Layout has engineered hardwood floors, beautiful open kitchen with an enormous island and access to a balcony, primary bedroom offers a spa like ensuite with heated floors, deep tub and corner glass shower, den with glass walls for that home office or study area, living room with cozy gas fireplace and ocean view. This unit offers elegance. Amenities include pool, gym, recreation room, hot tub, sauna and concierge. More details
    Listed by Royal LePage West Real Estate Services
    LISTING DETAILS
    AMAR SHAN
    DANA BALAN

  • 309 1435 Nelson Street, Vancouver - West End VW

    309 1435 Nelson Street West End VW Vancouver V6G 2Z3
    Main Photo: 309 1435 Nelson Street, Vancouver - West End VW

    309 1435 Nelson Street Vancouver V6G 2Z3 West End VW

    $499,000
    Residential
    Status:
    Active
    MLS® Num:
    R3159037
    Bedrooms:
    1
    Bathrooms:
    1
    Floor Area:
    687 sq. ft.
    Court order sale, well maintained upgraded building, 1 bedroom suite, solarium, 4 piece bath, updated kitchen, insuite laundry, one parking and storage locker included. Great location in heart of west End. Call today to view. More details
    Listed by RE/MAX City Realty
    LISTING DETAILS
    AMAR SHAN
    DANA BALAN

  • 303 1568 Alberni Street, Vancouver - West End VW

    303 1568 Alberni Street West End VW Vancouver V6G 0E3
    Main Photo: 303 1568 Alberni Street, Vancouver - West End VW

    303 1568 Alberni Street Vancouver V6G 0E3 West End VW

    $925,000
    Residential
    Status:
    Active
    MLS® Num:
    R3159032
    Bedrooms:
    1
    Bathrooms:
    1
    Floor Area:
    702 sq. ft.
    Experience refined West End living at Alberni by Kengo Kuma. This 1 bed, 1 bath home features an open-concept layout with clean, modern design and effortless flow between living spaces. The spa-inspired bathroom offers a true retreat with a separate shower and deep soaker tub and the primary bedroom offers plenty of space with a bright, south-facing window. Exceptional building amenities including concierge, fitness centre, indoor pool, and beautifully designed common spaces. Prime downtown location just steps to Stanley Park, the Seawall, Robson Street, cafés, and restaurants. Book your private showing! More details
    Listed by Royal LePage Westside
    LISTING DETAILS
    AMAR SHAN
    DANA BALAN

  • 307 1351 Continental Street, Vancouver - Downtown VW

    307 1351 Continental Street Downtown VW Vancouver V6Z 0C6
    Main Photo: 307 1351 Continental Street, Vancouver - Downtown VW

    307 1351 Continental Street Vancouver V6Z 0C6 Downtown VW

    $850,000
    Residential
    Status:
    Active
    MLS® Num:
    R3158381
    Bedrooms:
    1
    Bathrooms:
    2
    Floor Area:
    900 sq. ft.
    Welcome to The Maddox, in the heart of Yaletown. This bright and spacious loft-style home with soaring 17 ft. ceilings, floor-to-ceiling windows, and abundant natural light. The open-concept living/dining area flows seamlessly to an expansive patio with room for full outdoor furniture and a dedicated BBQ area. Enjoy year-round comfort with AC. The impeccably maintained building features 24-hour concierge, gym, sauna, business room, and rooftop amenity space. Steps from Yaletown’s finest restaurants, shops, and the Seawall, this rare loft-style home offers an exceptional opportunity in one of Vancouver’s most iconic neighbourhoods. Open House: Sunday, Aug 30th 2-4pm More details
    Listed by eXp Realty
    LISTING DETAILS
    AMAR SHAN
    DANA BALAN

  • 1803 518 Whiting Way, Coquitlam - Coquitlam West

    1803 518 Whiting Way Coquitlam West Coquitlam V3J 0H7
    Main Photo: 1803 518 Whiting Way, Coquitlam - Coquitlam West

    1803 518 Whiting Way Coquitlam V3J 0H7 Coquitlam West

    $989,000
    Residential
    Status:
    Active
    MLS® Num:
    R3157209
    Bedrooms:
    3
    Bathrooms:
    3
    Floor Area:
    1,366 sq. ft.
    Penthouse Living at Union in the heart of Burquitlam! This rare corner unit residence offers 1,366 sq ft with 3 bedrooms, 3 bathrooms, with impressive sweeping panoramic South and East views! Featuring an open plan with generous living spaces. The kitchen has a large island, quartz counters, and a gas range, seamlessly connecting to the dining and living room which is framed by floor-to-ceiling windows that stream in natural light. Two primary suites with ensuites and walk-in closets and additional 3rd bedroom. Impressive views from all rooms. Air conditioning, 2 parking stalls and a storage locker. Resort-style amenities include a sky lounge, fitness centre, games room, terrace and gardens. Steps to Lougheed Centre, SkyTrain and Koreatown. Interior photos available upon request. More details
    Listed by Royal LePage Elite West
    LISTING DETAILS
    AMAR SHAN
    DANA BALAN

  • 204 20200 56 Avenue, Langley - Langley City

    204 20200 56 Avenue Langley City Langley V3A 8S1
    Main Photo: 204 20200 56 Avenue, Langley - Langley City

    204 20200 56 Avenue Langley V3A 8S1 Langley City

    $429,000
    Residential
    Status:
    Active
    MLS® Num:
    R3156190
    Bedrooms:
    2
    Bathrooms:
    1
    Floor Area:
    759 sq. ft.
    The Bentley - Great central lcoation downtown Langley only steps to all the amenities the city has to offer. 2 bedroom, 1 bath, 1 parking, Open Living-Kitchen area. Living room has large window, gas fireplace & door accessing the Deck, Gas & Hot Water included. Building has replaced Roof, Siding, Gutters, Soffits & Balconies all Replaced 2013, Well run building, Proactive Strata. Dog and Cat friendly. Great price to get in the market or invest and rent out. More details
    Listed by Macdonald Realty (Surrey/152)
    LISTING DETAILS
    AMAR SHAN
    DANA BALAN

  • 240 7293 Moffatt Road, Richmond - Brighouse South

    240 7293 Moffatt Road Brighouse South Richmond V6Y 3E4
    Main Photo: 240 7293 Moffatt Road, Richmond - Brighouse South

    240 7293 Moffatt Road Richmond V6Y 3E4 Brighouse South

    $439,000
    Residential
    Status:
    Active
    MLS® Num:
    R3155577
    Bedrooms:
    2
    Bathrooms:
    1
    Floor Area:
    961 sq. ft.
    WOW!! Prime unit located on the East side of the building overlooking the mature trees in the fire lane-a quiet spot. Great area for shopping, schools, recreation, restaurants, transit, etc. Unit is clean but is ready for your decorating ideas. Features include laminate floors, kitchen with raised oak panel cabinets and ample storage, main bath has a cheater door to primary bedroom. Shared laundry on the 1st floor, locker is located close to the unit on the same floor. Secure parking stall is very convenient, located across from the elevator making grocery day a lot easier. More details
    Listed by Royal LePage West Real Estate Services
    LISTING DETAILS
    AMAR SHAN
    DANA BALAN

  • 4001 6000 Mckay Avenue, Burnaby - Metrotown

    4001 6000 Mckay Avenue Metrotown Burnaby V5H 0K2
    Main Photo: 4001 6000 Mckay Avenue, Burnaby - Metrotown

    4001 6000 Mckay Avenue Burnaby V5H 0K2 Metrotown

    $578,000
    Residential
    Status:
    Active
    MLS® Num:
    R3156121
    Bedrooms:
    1
    Bathrooms:
    1
    Floor Area:
    524 sq. ft.
    6000 McKay Ave in Burnaby offers modern, convenient urban living in the heart of Metrotown. This 4-year-old, well-maintained 41st-floor unit features a bright open-concept layout, contemporary finishes, stainless steel appliances, ample kitchen storage and a private balcony with pleasant views. The building offers secure access, on-site amenities, 1 parking space, 1 locker, with transit, shopping, restaurants, parks and schools nearby. An excellent opportunity for first-time buyers, downsizers or investors. This is an Order for Conduct of Sale (Foreclosure). Floor plans and photographs by Keith Henderson Photography. Thank You. Luke More details
    Listed by RE/MAX LIFESTYLES REALTY
    LISTING DETAILS
    AMAR SHAN
    DANA BALAN

  • 209 2414 Church Street, Abbotsford - Abbotsford West

    209 2414 Church Street Abbotsford West Abbotsford V2T 3J7
    Main Photo: 209 2414 Church Street, Abbotsford - Abbotsford West

    209 2414 Church Street Abbotsford V2T 3J7 Abbotsford West

    $225,000
    Residential
    Status:
    Active
    MLS® Num:
    R3155870
    Bedrooms:
    2
    Bathrooms:
    2
    Floor Area:
    1,016 sq. ft.
    Welcome to this spacious and 2 bedroom, 2 bathroom condo in a quiet 55+ community in West Abbotsford. Ideally located close to shopping, recreation, restaurants and everyday amenities, this home offers comfort and convenience in a peaceful setting. Desirable location on the quiet side of the building. The generous covered and enclosed balcony provides additional year-round living space. Secure underground parking is included, along with the added convenience of a storage locker located on the same floor as the unit. A wonderful opportunity for comfortable, low-maintenance living in a central location. More details
    Listed by Homelife Advantage Realty Ltd. and Advantage Property Management
    LISTING DETAILS
    AMAR SHAN
    DANA BALAN

  • 519 13733 107a Avenue, Surrey - Whalley

    519 13733 107a Avenue Whalley Surrey V3T 0B7
    Main Photo: 519 13733 107a Avenue, Surrey - Whalley

    519 13733 107a Avenue Surrey V3T 0B7 Whalley

    $489,000
    Residential
    Status:
    Active
    MLS® Num:
    R3155782
    Bedrooms:
    2
    Bathrooms:
    2
    Floor Area:
    857 sq. ft.
    Foreclosure opportunity. Own a top floor, corner unit in the centrally located Quattro building, upon entering this 2 bed/2 bath unit, you will be greeted by impressive 10-foot ceilings and large windows allowing tons of natural light to shine in. The spacious kitchen and open concept living and dining areas offer the perfect backdrop for entertaining or quiet leisure. Enjoy your spring and summer evenings on your quiet southern exposed balcony, nicely positioned away from the street facing courtyard. Experience ultimate convenience with all amenities nearby, plus, the SkyTrain is only a short walk away. With close proximity to SFU and the future UBC campus, this unit is perfectly situated. 1 parking stall and 1 storage unit is included, and the building allows pets and rentals. More details
    Listed by Green Leaf Realty Ltd.
    LISTING DETAILS
    AMAR SHAN
    DANA BALAN

  • 702 1325 Rolston Street, Vancouver - Downtown VW

    702 1325 Rolston Street Downtown VW Vancouver V6B 0M2
    Main Photo: 702 1325 Rolston Street, Vancouver - Downtown VW

    702 1325 Rolston Street Vancouver V6B 0M2 Downtown VW

    $680,000
    Residential
    Status:
    Active
    MLS® Num:
    R3154598
    Bedrooms:
    2
    Bathrooms:
    1
    Floor Area:
    718 sq. ft.
    VACANT & READY TO GO at The Rolston! This bright corner 2-bedroom home offers 705 sq. ft. of well-designed living space plus a generous balcony, creating an exceptional extension of the living area. The open-concept layout features a modern kitchen with sleek soft-close cabinetry, stainless steel appliances and quartz countertops, flowing into the spacious living and dining areas. Both bedrooms are well positioned for privacy, making the layout ideal for an end user or investment property. Enjoy in-suite storage and access to fantastic building amenities including concierge, fitness centre, and an impressive rooftop terrace with BBQs and city views. Vacant possession offers flexibility for investors or buyers looking to move in right away steps away from Yaletown, and seawall! More details
    Listed by RE/MAX Select Realty
    LISTING DETAILS
    AMAR SHAN
    DANA BALAN

  • 306 10560 154 Street, Surrey - Guildford

    306 10560 154 Street Guildford Surrey V3R 8A3
    Main Photo: 306 10560 154 Street, Surrey - Guildford

    306 10560 154 Street Surrey V3R 8A3 Guildford

    $379,000
    Residential
    Status:
    Active
    MLS® Num:
    R3154236
    Bedrooms:
    2
    Bathrooms:
    1
    Floor Area:
    893 sq. ft.
    Welcome to Creekside Place in Guildford. This 2 bedroom, 1 bathroom home offers a functional floor plan with a galley kitchen, separate dining area and living room. The home includes 1 parking stall and 1 storage locker. Located within walking distance of Guildford Town Centre and Guildford Recreation Centre, with transit and daily amenities nearby. Easy access to Highway 1 makes commuting throughout the Lower Mainland convenient. A practical option for first-time buyers or investors looking for a 2 bedroom home in a central Guildford location. More details
    Listed by RE/MAX 2000 Realty
    LISTING DETAILS
    AMAR SHAN
    DANA BALAN

  • 404 1925 Alberni Street, Vancouver - West End VW

    404 1925 Alberni Street West End VW Vancouver V6G 0A3
    Main Photo: 404 1925 Alberni Street, Vancouver - West End VW

    404 1925 Alberni Street Vancouver V6G 0A3 West End VW

    $1,050,000
    Residential
    Status:
    Active
    MLS® Num:
    R3153972
    Bedrooms:
    2
    Bathrooms:
    2
    Floor Area:
    1,038 sq. ft.
    Welcome to Laguna Parkside by Prima Properties! This stunning residence spans 1,038 Sq. Ft., with 2 beds, 2 baths, and a large den or in suite storage. Enjoy breathtaking views of Lost Lagoon, Stanley Park, and the North Shore mountains. Entertain from the large covered deck, or relax in front of the natural gas fireplace. This home features engineered hardwood flooring, premium stainless steel appliances, and granite countertops. Enjoy resort calibre amenities with concierge services, indoor pool, steam room, hot tub, state-of-the-art fitness studio, billiards room, and in-suite air conditioning. Includes 1 parking stall and 1 storage locker. Unbeatable location just steps to Stanley Park, Seawall, Lost Lagoon, Coal Harbour Marina. Don't miss this rare opportunity! More details
    Listed by VIRANI REAL ESTATE ADVISORS
    LISTING DETAILS
    AMAR SHAN
    DANA BALAN

  • 302 5005 Ash Street, Vancouver - Cambie

    302 5005 Ash Street Cambie Vancouver V5Z 0K8
    Main Photo: 302 5005 Ash Street, Vancouver - Cambie

    302 5005 Ash Street Vancouver V5Z 0K8 Cambie

    $769,000
    Residential
    Status:
    Active
    MLS® Num:
    R3153751
    Bedrooms:
    1
    Bathrooms:
    1
    Floor Area:
    608 sq. ft.
    Experience boutique living at Autograph by renowned local builder Pennyfarthing Homes. Bright & inviting residence features oversized windows that fill the home with natural light, a functional open layout, and a spacious balcony perfect for relaxing or entertaining. Quality finishes and contemporary design create a comfortable space you'll love coming home to. Ideally located just one block from Cambie Street, you're moments from Queen Elizabeth Park, Oakridge Centre, 2 Canada Line station, shopping, dining, and everyday conveniences. 10 minute SkyTrain ride to downtown. A rare opportunity to own in one of Vancouver's most sought-after neighbourhoods. More details
    Listed by Oakwyn Realty Ltd.
    LISTING DETAILS
    AMAR SHAN
    DANA BALAN

  • 105 7133 14th Avenue, Burnaby - Edmonds BE

    105 7133 14th Avenue Edmonds BE Burnaby V3N 0H5
    Main Photo: 105 7133 14th Avenue, Burnaby - Edmonds BE

    105 7133 14th Avenue Burnaby V3N 0H5 Edmonds BE

    $698,000
    Residential
    Status:
    Active
    MLS® Num:
    R3153072
    Bedrooms:
    2
    Bathrooms:
    2
    Floor Area:
    827 sq. ft.
    Welcome to Cedar Creek in Burnaby's vibrant Southgate City master-planned community. This beautifully appointed ground-floor home offers 2 spacious bedrooms, 2 full bathrooms, 9-foot ceilings, and a bright open-concept layout that maximizes every square foot. The modern kitchen features stainless steel appliances, while the impressive 275 sq. ft. private patio is perfect for entertaining, gardening, or relaxing. Just a short walk to Edmonds SkyTrain Station, Highgate Village Shopping Centre, schools, parks, and everyday amenities. Outstanding building amenities include a fitness centre, guest suite, meeting room, community garden, bicycle repair station, car wash area, and EV charging facilities. Pet and rental-friendly, this home is an excellent opportunity for homeowners and investors. More details
    Listed by RE/MAX LIFESTYLES REALTY
    LISTING DETAILS
    AMAR SHAN
    DANA BALAN

  • 1108 3281 E Kent Avenue North, Vancouver - South Marine

    1108 3281 E Kent Avenue North South Marine Vancouver V5S 0C4
    Main Photo: 1108 3281 E Kent Avenue North, Vancouver - South Marine

    1108 3281 E Kent Avenue North Vancouver V5S 0C4 South Marine

    $719,900
    Residential
    Status:
    Active
    MLS® Num:
    R3152885
    Bedrooms:
    2
    Bathrooms:
    2
    Floor Area:
    1,000 sq. ft.
    River Views! Bright corner 2 bed + flex home offering 1000 sqft of well-proportioned living with soaring ceilings and an airy open-concept layout. Floor-to-ceiling windows frame expansive Fraser River outlooks and fill the space with natural light throughout the day. The thoughtful layout features separated bedrooms for privacy, two full bathrooms, and a spacious primary with large ensuite. Added conveniences include insuite laundry, tons of storage, and a flex room. Set in the well-connected and popular River District, close to parks, trails, and transit, this is a solid opportunity to customize and make it your own. More details
    Listed by Royal LePage Westside
    LISTING DETAILS
    AMAR SHAN
    DANA BALAN

  • 503 3315 Cypress Place, West Vancouver - Cypress Park Estates

    503 3315 Cypress Place Cypress Park Estates West Vancouver V7S 3J7
    Main Photo: 503 3315 Cypress Place, West Vancouver - Cypress Park Estates

    503 3315 Cypress Place West Vancouver V7S 3J7 Cypress Park Estates

    $1,990,000
    Residential
    Status:
    Active
    MLS® Num:
    R3152879
    Bedrooms:
    2
    Bathrooms:
    3
    Floor Area:
    2,022 sq. ft.
    Welcome to Stonecliff. Immaculate 2 bedroom and den. Renovations done in 2016 by Georgie Award CCI renovations. Home features, custom millwork, Quarts Counter tops, Oak Cabinets, wood flooring, 2 fireplaces, Corner suite, large deck area, million dollar view, air conditioning,2 parking spots. Come to view this beautiful home. Showings Wednesday from 5 to 8 and Saturdays from 1 to 5 More details
    Listed by RE/MAX City Realty
    LISTING DETAILS
    AMAR SHAN
    DANA BALAN

  • 111 9250 University High Street, Burnaby - Simon Fraser Univer.

    111 9250 University High Street Simon Fraser Univer. Burnaby V5A 0B3
    Main Photo: 111 9250 University High Street, Burnaby - Simon Fraser Univer.

    111 9250 University High Street Burnaby V5A 0B3 Simon Fraser Univer.

    $415,000
    Residential
    Status:
    Active
    MLS® Num:
    R3152512
    Bedrooms:
    1
    Bathrooms:
    1
    Floor Area:
    638 sq. ft.
    COURT ORDER SALE: Nest by mosaic is an architectural landmark in Burnaby Mountain, one-bedroom condo at Simon Fraser University with 9' ceilings throughout, close to shops, restaurants, and recreation, Pets & rental allow, private yard, back entrance. 1 Parking Stall & 1 Storage Locker. Open House Saturday, August 29, 2-4 P.M. More details
    Listed by Sutton Group-West Coast Realty
    LISTING DETAILS
    AMAR SHAN
    DANA BALAN

  • 903 1330 Hornby Street, Vancouver - Downtown VW

    903 1330 Hornby Street Downtown VW Vancouver V6Z 1W5
    Main Photo: 903 1330 Hornby Street, Vancouver - Downtown VW

    903 1330 Hornby Street Vancouver V6Z 1W5 Downtown VW

    $364,000
    Residential
    Status:
    Active
    MLS® Num:
    R3151869
    Bedrooms:
    1
    Bathrooms:
    1
    Floor Area:
    440 sq. ft.
    Enjoy the best of downtown Vancouver in this bright and efficiently designed 440 sq. ft. south-facing studio. The open-concept layout makes excellent use of the space, creating comfortable living, dining, and sleeping areas filled with natural light. Step onto your private balcony to enjoy your morning coffee or relax at the end of the day. Ideally located just steps from vibrant Yaletown, you'll have easy access to outstanding restaurants, cafés, shopping, entertainment, public transit, and the scenic Seawall. The building features shared laundry facilities, is pet-free, rental parking is available nearby; no parking stall is included. An excellent opportunity for first-time buyers, investors, or anyone seeking an affordable home in one of Vancouver's most desirable neighbourhood. Tks More details
    Listed by RE/MAX LIFESTYLES REALTY
    LISTING DETAILS
    AMAR SHAN
    DANA BALAN

  • 202 588 Broughton Street, Vancouver - Coal Harbour

    202 588 Broughton Street Coal Harbour Vancouver V6G 3E3
    Main Photo: 202 588 Broughton Street, Vancouver - Coal Harbour

    202 588 Broughton Street Vancouver V6G 3E3 Coal Harbour

    $916,800
    Residential
    Status:
    Active
    MLS® Num:
    R3151108
    Bedrooms:
    2
    Bathrooms:
    2
    Floor Area:
    942 sq. ft.
    Experience Coal Harbour living at the prestigious Harbourside, an architectural landmark by Arthur Erickson. This bright and spacious 2-bedroom, 2-bathroom features expansive floor-to-ceiling windows. Superb layout with open plan kitchen and large living room. Bonus in-suite storage / office. Steps from the Seawall, Stanley Park, award-winning restaurants, cafés, and world-class shopping. Residents enjoy exceptional amenities including an indoor pool, hot tub, fitness centre, and 24-hour concierge service. Directly across the road from Coal Harbour Elementary School. 1 parking and 1 storage. ALL OFFERS SUBJECT TO APPROVAL OF THE SUPREME COURT OF B.C More details
    Listed by Macdonald Realty
    LISTING DETAILS
    AMAR SHAN
    DANA BALAN
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Data was last updated August 31, 2026 at 12:40 AM (UTC)
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The data relating to real estate on this website comes in part from the MLS® Reciprocity program of either the Greater Vancouver REALTORS® (GVR), the Fraser Valley Real Estate Board (FVREB) or the Chilliwack and District Real Estate Board (CADREB). Real estate listings held by participating real estate firms are marked with the MLS® logo and detailed information about the listing includes the name of the listing agent. This representation is based in whole or part on data generated by either the GVR, the FVREB or the CADREB which assumes no responsibility for its accuracy. The materials contained on this page may not be reproduced without the express written consent of either the GVR, the FVREB or the CADREB.
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MLS® Foreclosure Listings by Property Type

A foreclosure condo may sometimes sell below comparable properties, but it should not automatically be considered a bargain. The final price depends on the unit’s condition, location, strata finances, market demand and competing offers. Buyers should consider not only the purchase price but also strata fees, potential repairs and any current or anticipated special levies before deciding whether a foreclosure condo represents good value.

Buyers should review as much current strata information as possible, including the Form B Information Certificate, bylaws and rules, financial statements, current budget, strata council and general meeting minutes, insurance information and the depreciation report. These documents can reveal important information about strata fees, the contingency reserve fund, special levies, planned repairs, litigation and other matters affecting the property.

Yes. A foreclosure sale does not prevent the strata corporation from having an existing or proposed special levy. Buyers should carefully review the Form B, meeting minutes, financial statements and other available strata documents for information about approved or anticipated expenditures. The purchase contract and closing documents should also be reviewed to determine responsibility for any levy associated with the unit. BCFSA specifically identifies special levies as an issue buyers should investigate when purchasing strata property.

Yes. The depreciation report can provide valuable information about the condition of major common-property components and the strata corporation’s anticipated repair and replacement needs. It can help buyers understand whether significant expenses may be approaching and how well the strata is planning for them. Depreciation reports are an important part of long-term financial and maintenance planning for strata corporations.

An inspection may be possible if access is available and the terms and timing of the sale allow it. For a condo, an inspection generally focuses on the interior of the strata lot and visible components, while many major building systems and exterior components are common property maintained by the strata corporation. This makes reviewing strata documents just as important as inspecting the individual unit. Court ordered properties are commonly sold “as is, where is,” so buyers should complete as much due diligence as possible before becoming committed to the purchase.

Do not assume that a parking stall or storage locker shown with the property automatically belongs exclusively to the unit. Parking and storage may be part of the strata lot, limited common property, common property assigned by the strata, or subject to another arrangement. The strata plan, Form B and other strata records should be reviewed to confirm the buyer’s rights to these areas. BCFSA specifically notes that Form B information can include parking and storage details.

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