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Foreclosures - Court Order Sales

Search BC Foreclosures (foreclosed homes / properties), known as court order sales. Info for all Foreclosure Listings, know your rights & risks.

Foreclosed properties occur when a homeowner defaults on their mortgage obligations. BC foreclosures are conducted by the British Columbia Supreme Court, which approves every step in the process and makes the final decision on whether to accept an offer. For this reason, foreclosure listings are often referred to as court ordered sales. Homeowners should do everything possible to avoid ending up with a foreclosed home!

The process of buying a foreclosure listing is quite different from purchasing a re-sale home. The BC Supreme Court tries to strike a balance between the rights of the homeowner and the lender. The Court does that through a transparent process and rigorous review. A detailed discussion of the process and risks involved can be found at bottom of the page, and is highly recommended reading.

Are you facing foreclosure?

Avoid a foreclosure if at all possible! Foreclosed properties often sell at a substantial discount from their market value, and there are many additional fees levied as well. As a result, any equity you have in your home will be quickly eaten up. Contact us before foreclosure proceedings begin and let us give you a Free Market Valuation – we can likely sell your home quickly enough to avoid foreclosure!

Looking to invest in foreclosures?

Foreclosed properties can be a source of incredible bargains, but there are significant risks that must be considered. The court ordered sale process can be time consuming and stressful – and you really need a realtor experienced in foreclosures. We would be delighted to discuss the process and whether a foreclosed property is right for you! Please sign up as a VIP member (specify Foreclosures in the Comments) and we’ll email you new foreclosure listings the moment they hit the market!

Active BC Foreclosures - Greater Vancouver & Fraser Valley

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  • 21528 Donovan Avenue, Maple Ridge - West Central

    21528 Donovan Avenue West Central Maple Ridge V2X 3A1
    Main Photo: 21528 Donovan Avenue, Maple Ridge - West Central
    $1,388,888
    Residential
    Status:
    Active
    MLS® Num:
    R3151214
    Bedrooms:
    9
    Bathrooms:
    6
    Floor Area:
    4,803 sq. ft.
    RARE LOCATION AND SIZE at 4,803 sq/ft of purpose-built multigenerational living in the heart of West Central Maple Ridge! With a whopping nine potential bedrooms, six bathrooms, three kitchens including a dedicated wok kitchen for serious cooking, and a full legal 2 bed suite below for in-laws or income. Set on a quiet cul-de-sac with a south-facing rear yard, with a massive driveway for your RV/Boat/Trailer and all your vehicles! Walking distance to transit, school bus, Maple Ridge Secondary, and Memorial Peace Park. Short drive to West Coast Express or downtown Maple Ridge for all your shopping and restaurant needs. Or drive 5 minutes north for all your hiking, lakes/rivers, & outdoor recreational activities! 1st photo is virtually staged replacing green paint areas for example purposes. More details
    Listed by eXp Realty and Century 21 Coastal Realty Ltd.
    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
    $962,500
    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
    AMAR SHAN
    DANA BALAN
  • 3404 1077 W Cordova Street, Vancouver - Coal Harbour

    3404 1077 W Cordova Street Coal Harbour Vancouver V6C 2C6
    Main Photo: 3404 1077 W Cordova Street, Vancouver - Coal Harbour
    $2,282,500
    Residential
    Status:
    Active
    MLS® Num:
    R3151092
    Bedrooms:
    2
    Bathrooms:
    2
    Floor Area:
    1,356 sq. ft.
    Experience exceptional waterfront living from this rare view apartment at iconic Rogers Tower. Offering 1,356 sq. ft., this spacious home features 2 bedrooms and 2 bathrooms. Floor-to-ceiling windows frame sweeping, unobstructed views of Vancouver Harbour, Convention Centre, and the Cruise Ship terminal all the way to the North Shore Mountains. Designed with an open-concept layout and over-height ceilings, the home showcases a chef-inspired kitchen and large principal rooms for house sized furniture. Residents enjoy first-class amenities including 24-hour concierge, fitness centre, and more. 3 parking + 1 storage locker. Unbeatable Coal Harbour location just steps from the seawall, restaurants, and shopping. ALL OFFERS SUBJECT TO APPROVAL OF THE SUPREME COURT OF B.C. Showing by appt. only. More details
    Listed by Macdonald Realty
    AMAR SHAN
    DANA BALAN
  • 108 3188 Riverwalk Avenue, Vancouver - South Marine

    108 3188 Riverwalk Avenue South Marine Vancouver V5S 0E7
    Main Photo: 108 3188 Riverwalk Avenue, Vancouver - South Marine
    $885,000
    Residential
    Status:
    Active
    MLS® Num:
    R3150999
    Bedrooms:
    2
    Bathrooms:
    2
    Floor Area:
    983 sq. ft.
    Experience riverfront living at its best! This spacious 2 bed, 2 bath home features a bright, open-concept layout with soaring ceilings and oversized windows that fill the space with natural light. The chef-inspired kitchen includes a gas range, built-in appliances, and a large island, perfect for cooking and entertaining. Thoughtfully designed layout offers bedrooms on opposite sides for privacy, plus a versatile flex space ideal for an office, pantry, or storage. The primary suite boasts a walk-in closet and large spa-inspired ensuite with double vanities, and glass shower. Fully fenced patio, great for BBQs, overlooking the courtyard and riverside. With trails, cafés, restaurants, and groceries just a stroll away, this is the ultimate River District lifestyle. More details
    Listed by Royal LePage Westside
    AMAR SHAN
    DANA BALAN
  • 17091 Westminster Highway, Richmond - East Richmond

    17091 Westminster Highway East Richmond Richmond V6V 1A9
    Main Photo: 17091 Westminster Highway, Richmond - East Richmond
    $1,468,000
    Residential
    Status:
    Active
    MLS® Num:
    R3150827
    Bedrooms:
    5
    Bathrooms:
    4
    Floor Area:
    3,191 sq. ft.
    Situated on a 7,928 sq. ft. (0.18-acre) lot in East Richmond, this well-maintained basement-entry home offers approx. 3,191 sq. ft. of living space, including two unauthorized self-contained suites that provide excellent mortgage-helper or extended-family potential. The main residence features three bedrooms, two bathrooms, an updated kitchen with stone countertops and stainless-steel appliances, updated flooring, a heat pump with air conditioning, an on-demand hot water system, upgraded electrical service, and numerous recent improvements. The property also includes a large rear deck, front balcony, an oversized detached workshop/garage with lane access, and ample parking. Conveniently located within a 10–15 minute drive of schools, shopping, public transit, and major commuter routes. More details
    Listed by RE/MAX LIFESTYLES REALTY
    AMAR SHAN
    DANA BALAN
  • 311 2964 Trethewey Street, Abbotsford - Abbotsford West

    311 2964 Trethewey Street Abbotsford West Abbotsford V2T 6P4
    Main Photo: 311 2964 Trethewey Street, Abbotsford - Abbotsford West
    $319,900
    Residential
    Status:
    Active
    MLS® Num:
    R3150280
    Bedrooms:
    2
    Bathrooms:
    2
    Floor Area:
    900 sq. ft.
    2 bed, 2 bath condo featuring updated cabinetry, flooring, lighting, bathrooms, paint, trim, plumbing fixtures, stainless steel appliances, backsplash, and countertops. A stylish barn door leads to the convenient laundry room. Ideally situated on the third floor, this home offers added security and one of the most convenient locations in the building. Enjoy a private, peaceful setting overlooking the trees. Located in a family-friendly complex within walking distance of parks, schools, shopping, and restaurants—an excellent opportunity for first-time buyers. More details
    Listed by Real Broker BC Ltd
    AMAR SHAN
    DANA BALAN
  • 621 E 65th Avenue, Vancouver - South Vancouver

    621 E 65th Avenue South Vancouver Vancouver V5X 2P7
    Main Photo: 621 E 65th Avenue, Vancouver - South Vancouver
    $1,749,999
    Residential
    Status:
    Active
    MLS® Num:
    R3150713
    Bedrooms:
    8
    Bathrooms:
    7
    Floor Area:
    2,772 sq. ft.
    Built in 2018, this exceptional income property offers outstanding flexibility with a spacious main residence, legal basement suite, and detached laneway home. Generate over $9,000/month in potential rental income when fully occupied, or live comfortably while benefiting from substantial mortgage helper income. The main residence features contemporary finishes and comfortable radiant in floor heating. Conveniently located just minutes from Memorial South Park, Real Canadian Superstore, Marine Gateway, T&T Supermarket, Cineplex VIP, Best Buy, Canadian Tire, and Richmond. Easy access to transit, YVR, and Downtown completes this rare turnakey investment opportunity. More details
    Listed by RE/MAX City Realty
    AMAR SHAN
    DANA BALAN
  • 4491 Carter Drive, Richmond - West Cambie

    4491 Carter Drive West Cambie Richmond V6X 3V1
    Main Photo: 4491 Carter Drive, Richmond - West Cambie
    $1,549,000
    Residential
    Status:
    Active
    MLS® Num:
    R3150568
    Bedrooms:
    6
    Bathrooms:
    3
    Floor Area:
    2,729 sq. ft.
    Generously sized 6-bedroom home with a functional layout in a prime Richmond location. This spacious residence offers 5 bedrooms upstairs, ideal for growing families, with a well-designed main floor featuring bright living, dining, and family areas. East-facing front entrance brings in natural morning light. Durable Spanish tile roof, double garage, large patio, and private backyard perfect for entertaining. Situated on a quiet street, yet minutes to Richmond Centre, Central at Garden City (Walmart), Lansdowne Centre, parks, and everyday amenities. School catchment includes Tomsett Elementary and A.R. MacNeill Secondary, with easy access to transit and major routes. More details
    Listed by eXp Realty
    AMAR SHAN
    DANA BALAN
  • 409 19939 55a Avenue, Langley - Langley City

    409 19939 55a Avenue Langley City Langley V3A 3X4
    Main Photo: 409 19939 55a Avenue, Langley - Langley City
    $425,000
    Residential
    Status:
    Active
    MLS® Num:
    R3150384
    Bedrooms:
    1
    Bathrooms:
    1
    Floor Area:
    794 sq. ft.
    Welcome to Madison Crossing, a well-managed community ideally located in the heart of Langley City. This top-floor 2-bedroom plus den home offers a bright and functional layout with impressive vaulted ceilings and an open living space. Recent updates include new laminate flooring, fresh interior paint, a new washer and dryer, and a dishwasher replaced last year. The kitchen features stainless steel appliances and granite countertops, with matching granite in the bathroom. Step onto the private balcony and enjoy open views from the top floor. Two secure underground parking stalls provide added convenience and potential rental value. Pets and rentals are permitted. Close to Willowbrook Shopping Centre, transit, restaurants, schools, parks, and everyday amenities. More details
    Listed by eXp Realty of Canada, Inc.
    AMAR SHAN
    DANA BALAN
  • 36727 Dianne Brook Avenue, Abbotsford - Abbotsford East

    36727 Dianne Brook Avenue Abbotsford East Abbotsford V3G 0H4
    Main Photo: 36727 Dianne Brook Avenue, Abbotsford - Abbotsford East
    $934,000
    Residential
    Status:
    Active
    MLS® Num:
    R3150319
    Bedrooms:
    5
    Bathrooms:
    4
    Floor Area:
    2,698 sq. ft.
    This spacious 5-bedroom, 3.5-bathroom residence in the highly sought-after South Sumas Mountain area of Abbotsford offers the perfect blend of comfort, functionality, and investment potential. Designed with versatility in mind, the home features TWO fully equipped kitchens—ideal for multi-generational living or generating rental income as a mortgage helper. Thoughtfully laid out to maximize space and flexibility, this property is a fantastic opportunity for families and investors alike. More details
    Listed by Royal Lepage Wheeler Cheam
    AMAR SHAN
    DANA BALAN
  • 1404 1228 W Hastings Street, Vancouver - Coal Harbour

    1404 1228 W Hastings Street Coal Harbour Vancouver V6E 4S6
    OPEN HOUSE: Aug 09, 2026
    12:00 PM - 01:00 PM PDT
    Open House on Sunday, August 9, 2026 12:00PM - 1:00PM
    Main Photo: 1404 1228 W Hastings Street, Vancouver - Coal Harbour
    $899,000
    Residential
    Status:
    Active
    MLS® Num:
    R3150271
    Bedrooms:
    2
    Bathrooms:
    2
    Floor Area:
    926 sq. ft.
    Experience true waterfront living in Unit 1404 at the Palladio, nestled in prestigious Coal Harbour. Enjoy spectacular ocean, marina, and mountain views from floor-to-ceiling windows in this beautifully redesigned home. Featuring an open-concept layout, hardwood flooring, a gourmet kitchen with integrated high-end appliances, spacious bedrooms, and a custom-built den perfect for a home office. Steps to the Seawall, Stanley Park, fine dining, and upscale shopping. This luxury residence includes access to concierge, fitness centre, hot tub, and meeting rooms. Available!! Open House Sunday 12-1PM More details
    Listed by Oakwyn Realty Ltd.
    AMAR SHAN
    DANA BALAN
  • 11573 73a Avenue, Delta - Scottsdale

    11573 73a Avenue Scottsdale Delta V4C 6Y5
    Main Photo: 11573 73a Avenue, Delta - Scottsdale
    $1,300,000
    Residential
    Status:
    Active
    MLS® Num:
    R3150261
    Bedrooms:
    6
    Bathrooms:
    3
    Floor Area:
    2,000 sq. ft.
    Court Order Sale, 6 bedrooms, 3 baths. 2 bedroom suite, 63 foot lot and single garage. Allow time for showing. More details
    Listed by RE/MAX City Realty
    AMAR SHAN
    DANA BALAN
  • 708 18505 Laurensen Place, Surrey - Clayton

    708 18505 Laurensen Place Clayton Surrey V4N 6R7
    Main Photo: 708 18505 Laurensen Place, Surrey - Clayton
    $795,000
    Residential
    Status:
    Active
    MLS® Num:
    R3150230
    Bedrooms:
    4
    Bathrooms:
    3
    Floor Area:
    1,669 sq. ft.
    Spacious & bright 4-bedroom, 3-bathroom END UNIT townhome in Clayton Walk! RARE 4-CAR PARKING with a side-by-side garage and driveway! The entry level offers a bedroom & full bathroom for added convenience. The main floor features a modern kitchen w/quartz countertops, white shaker cabinetry and large island, flowing into the living and dining areas. Enjoy a huge North-facing balcony.Upstairs, you’ll find 3 bedrooms, including the primary with an ensuite, plus a full bathroom and laundry. Prime location, walking distance to shops, restaurants, transit, schools, and future SkyTrain. Clayton Park and Community Centre are right across the street! More details
    Listed by eXp Realty of Canada, Inc.
    AMAR SHAN
    DANA BALAN
  • 15023 72 Avenue, Surrey - East Newton

    15023 72 Avenue East Newton Surrey V3S 2G3
    Main Photo: 15023 72 Avenue, Surrey - East Newton
    $1,399,000
    Residential
    Status:
    Active
    MLS® Num:
    R3149937
    Bathrooms:
    3
    Floor Area:
    3,624 sq. ft.
    LAND VALUE OPPORTUNITY IN THE CHIMNEY HEIGHTS AREA - Exceptional opportunity to acquire a prime 20,342 sq. ft. R1-Zoned property in a highly desirable Surrey neighborhood, close to shopping, parks, schools and public transportation. The existing residence sustained some fire damage and is being offer primarily for land value. The improvements are considered to have little or no contributory value, making this an ideal opportunity for builders, developers, investors, or buyers looking to create a custom home in an established area. A prime chance to secure a large lot in a sought-after area with strong future potential. More details
    Listed by Macdonald Realty (Surrey/152)
    AMAR SHAN
    DANA BALAN
  • 32275 Clinton Avenue, Abbotsford - Abbotsford West

    32275 Clinton Avenue Abbotsford West Abbotsford V2T 5B3
    Main Photo: 32275 Clinton Avenue, Abbotsford - Abbotsford West
    $810,000
    Residential
    Status:
    Active
    MLS® Num:
    R3149881
    Bedrooms:
    3
    Bathrooms:
    2
    Floor Area:
    1,529 sq. ft.
    Come view this 1,529 sq. ft., 3 bedroom, 2 bathroom, 3 level split home situated on a 5,813 sq. ft. lot in the heart of West Abbotsford. As you enter the home, you will find a spacious, bright living room which leads to the dining room and updated peninsula kitchen with plenty of counter and cabinet space. Upstairs you will find a roomy primary bedroom, 2 additional generous sized bedrooms and a full bathroom. Below is another family room which leads to the laundry, 2nd full bathroom and double side by side garage. The private walkout yard backs onto a greenbelt and discovery trail. Walking distance to schools, Clearbrook Park, Rec Centre, Rotary Stadium, Abbotsford Exhibition Park and close to shopping, restaurants, banks, HWY 1 and more! More details
    Listed by Macdonald Realty (Surrey/152)
    AMAR SHAN
    DANA BALAN
  • 12033 206b Street, Maple Ridge - Northwest Maple Ridge

    12033 206b Street Northwest Maple Ridge Maple Ridge V2X 9T8
    Main Photo: 12033 206b Street, Maple Ridge - Northwest Maple Ridge
    $900,000
    Residential
    Status:
    Active
    MLS® Num:
    R3149927
    Bedrooms:
    4
    Bathrooms:
    3
    Floor Area:
    1,859 sq. ft.
    4 bed, 3 bath home offering excellent value and space! Features a bright, functional layout with a generously sized kitchen and oversized island, perfect for entertaining and everyday living. Large living and family rooms provide plenty of space for relaxation, kids, or hobbies. Good size bedrooms offer plenty of room for a larger household with comfortable day-to-day living. Situated on a nice lot with space for vehicles, toys, or outdoor enjoyment. Conveniently located near schools, parks, shopping, and transit, making it an ideal place to call home. More details
    Listed by RE/MAX 2000 Realty
    AMAR SHAN
    DANA BALAN
  • 204 15621 Marine Drive, White Rock - White Rock

    204 15621 Marine Drive White Rock White Rock V4B 1E1
    Main Photo: 204 15621 Marine Drive, White Rock - White Rock
    $636,000
    Residential
    Status:
    Active
    MLS® Num:
    R3149666
    Bedrooms:
    2
    Bathrooms:
    2
    Floor Area:
    1,042 sq. ft.
    Beautiful White Rock living with beach access just across the street! This spacious 1,000+ sqft condo features two bedrooms, two full bathrooms, a functional galley-style kitchen, a generous dining nook, in-suite laundry, and a private patio with direct street access. Ideally located just minutes from downtown White Rock, shopping, restaurants, and everyday amenities, this is beachside living at its best. Two pets are permitted, making this beachside home an excellent option for pet owners. More details
    Listed by Real Broker BC Ltd
    AMAR SHAN
    DANA BALAN
  • 7707 118 Street, Delta - Scottsdale

    7707 118 Street Scottsdale Delta V4C 6G9
    Main Photo: 7707 118 Street, Delta - Scottsdale
    $1,399,000
    Residential
    Status:
    Active
    MLS® Num:
    R3150053
    Bedrooms:
    2
    Bathrooms:
    1
    Floor Area:
    792 sq. ft.
    Extra-large 10,956 sq ft. lot with 65 feet of frontage, offering exceptional land value and outstanding multi-unit redevelopment potential. Currently rented to a long-term tenant, the property provides immediate rental income while you plan your future development. Located in a highly desirable area, this is an excellent opportunity for builders, investors, or developers looking to construct new duplexes or explore other redevelopment possibilities (subject to municipal approvals). A rare investment opportunity in a prime location with strong future upside. More details
    Listed by Sutton Group-West Coast Realty
    AMAR SHAN
    DANA BALAN
  • 3171 Engineer Crescent, Abbotsford - Aberdeen

    3171 Engineer Crescent Aberdeen Abbotsford V4X 0A7
    Main Photo: 3171 Engineer Crescent, Abbotsford - Aberdeen
    $1,459,000
    Residential
    Status:
    Active
    MLS® Num:
    R3149774
    Bedrooms:
    7
    Bathrooms:
    7
    Floor Area:
    3,774 sq. ft.
    Welcome to 3171 Engineer Crescent, located in the Aberdeen area. Built in 2015. This two storey home offers 3,774 sq ft of living space on a 6,248.45 sq ft lot, with 7 bedrooms and 7 bathrooms (6 full). The main floor has an open layout with a spacious living room, dining area, family, and a large kitchen with a full spice kitchen. The family room opens to a patio. Also on the main floor is a rec room with two bedrooms and a full bathroom, already closed off. Add a kitchen in the rec room and there is potential for a suite. Upstairs are 5 spacious bedrooms, each with its own ensuite. Double car garage, plus additional driveway spaces. This home is ideal for a growing family or multi-generational living. More details
    Listed by Vybe Realty
    AMAR SHAN
    DANA BALAN
  • 101 1768 Gilmore Avenue, Burnaby - Brentwood Park

    101 1768 Gilmore Avenue Brentwood Park Burnaby V5C 0L4
    Main Photo: 101 1768 Gilmore Avenue, Burnaby - Brentwood Park
    $705,000
    Residential
    Status:
    Active
    MLS® Num:
    R3149711
    Bedrooms:
    2
    Bathrooms:
    2
    Floor Area:
    808 sq. ft.
    Welcome to Escala in the heart of Brentwood Park. This bright 2 bed, 2 bath corner home offers a functional open-concept layout with floor-to-ceiling windows that fill the space with natural light. Located on the first floor, enjoy seamless indoor-outdoor living with a spacious private patio, perfect for entertaining, gardening or relaxing. The well-designed floor plan features separated bedrooms for added privacy, modern finishes, and a contemporary kitchen with quality appliances. Complete with 1 secured parking stall and 1 storage locker. Residents enjoy resort-style amenities including an indoor pool, hot tub, sauna, fitness centre, yoga studio, theatre room, party lounge, guest suites and concierge. Just steps to The Amazing Brentwood and skytrain, call to book your private showing. More details
    Listed by eXp Realty of Canada, Inc.
    AMAR SHAN
    DANA BALAN
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Data was last updated August 9, 2026 at 04:05 AM (UTC)
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Describe Your Ideal Property

This is the quickest way to receive up-to-date information on New Listings & Price changes! You will be the first to know when a home that fits your preferences hits the market.

If you encounter financial difficulties, and you know that making mortgage payments will be pretty much impossible and you will likely end up in foreclosure, you should strongly consider selling your home. It is the easiest way out of your predicament! By selling ASAP you save the legal costs of a foreclosure (lawyers’ fees can end up in six figures), appraisal cost, reduce the interest you have to pay, and you don’t damage your credit score. A foreclosure (court ordered sale) can appear on a credit report for 7 years! During that time you will find it difficult or impossible to secure another mortgage, obtain a car loan or even open a new credit card.

If you know that the financial difficulties are short term, you could try to get a second mortgage from a Private lender. Facts you need to know: interest rates will be higher, there are upfront costs (can be few thousands of dollars) and payout penalties are high. You have to make sure you can afford the monthly payments. And you have to make sure at the end of the term (which is usually only 1 year) that you have to have the money to pay back the loan, otherwise the private lender can initiate foreclosure proceedings too.

If you’ve started receiving letters from your mortgage lender about foreclosure, you may still have some time to save your home from being foreclosed. It usually takes 2-3 month before the lender gets the right to sell your property from the Court. You should talk to your lender as soon as possible, explain your situation and see if there are any options for loan modification to give you some relief in the short term. Most banks would rather work with you than foreclose. You should speak to a mortgage specialist and try to consolidate your debt into a new first mortgage or get a short term loan to cover your expenses until you sell your property.

Demand Letters: When you stop paying your mortgage you’ll get a letter from the bank that gives you a short period of time to pay out the mortgage. You must take steps to do so, to avoid seeing your home as a foreclosure listing!

Petition: The lender will ask a lawyer to start the foreclosure process. The lawyer will file a document (foreclosure petition) in the BC Supreme Court.   The Court will then send a copy of the petition to all parties to the mortgage contract.

Order nisi: First hearing in court. The judge will establish the amount you have to pay to cover the mortgage in full, plus interest & taxes, and it will give you time to ‘redeem’ by paying the full amount you owe. The redemption period is traditionally 6 month.

Judicial Sale: The lender may choose to have the property listed for sale  or seek an ‘Order Absolute of Foreclosure’.  The court has to approve the sale of a listed property (the price, the terms, the dates, the commissions paid).  If the sale proceeds do not cover the lender in full, the lender can seek the deficiency from the borrower under a court action.

Order Absolute of Foreclosure:   If there are no offers, the lender can seek an “Order Absolute of Foreclosure”.   The Order grants the lender ownership of the property and removes the original homeowner from Title.  No further court action can be taken against the borrower after order absolute has been granted.

Contact us as early as possible if you find yourself in financial distress.   We can bring you a quick sale  to avoid winding up in foreclosure!

BC Foreclosure Listings (court ordered sales) can be a source of amazing deals, but there are higher risks as well. CAUTION should be your watchword! However, an experienced Realtor can guide you around the many pitfalls. Still, many informed buyers find the reward of getting a property they love at a great price can outweigh the risks.

An offer to purchase must be accompanied by a legal document, customarily referred to as Schedule A, written by lawyers for the lender conducting the foreclosure. Schedule A strips away many of the rights normally enjoyed by the purchaser. Be warned: the properties are sold “as-is, where is”; the buyer takes what they get on the Possession Date. The foreclosed home/property is not guaranteed to be in the same condition as on the viewed date. Damage may have occurred between the view date and the possession date. Fixtures (lights, faucets, cabinets, appliances, etc.) may have been removed. Required maintenance may not have been performed. Water leaks or mould may be present. The foreclosed property may contain unwanted trash.

The lender will not make any disclosures, will not offer any warranties as to the condition of the foreclosed property and will not make any repairs.

A buyer begins by negotiating a purchase price with the lawyer representing the lender. The offer may contain subjects to allow you to do your due diligence in regards to foreclosed home: building condition, financing, insurance, and other relevant inspections. Once your subjects have been removed, the deal is conditional on court approval and a court date is set (typically 2-4 weeks in advance). Offer acceptance is only the first step; if you get a great deal, you will likely face competition in court! The competing offers presented in court must be subject free offers, with deposit attached. The court will review all offers and choose the best one.

The foreclosed homes process can be quite lengthy and frustrating. Firstly, the Completion Date will depend on the court date, and you are at the whim of the Court’s schedule. Secondly, even if you have an Accepted offer, you can still lose the property in court to a competing offer!

Additional risks exist if the foreclosed home is not vacant. If owner occupied, the former owner may not vacate the property in accordance with the court order or may maliciously damage the foreclosed property before departure. If rented, the tenant has rights under the BC Residential Tenancy Act, and negotiating their eviction could lead to a delay in taking possession of the foreclosed property.

BC Foreclosures can be a source of great bargains. They often sell for less than market value due to their condition, risk, soft market conditions and the lender’s need to recoup their money quickly.

BC Foreclosures are best navigated with a Realtor experienced in them – contact us to guide your journey though a court ordered sale.

In today’s competitive real estate market, savvy investors and home buyers are constantly on the lookout for the best opportunities to secure their dream property at an exceptional value. If you’re considering a foreclosure property, our website BCHB.ca stands out as the premier choice, consistently ranked number one on Google for foreclosure listings. Here’s why you should choose Team Dana & Amar for your next purchase.

1. Comprehensive Foreclosure Listings

BCHB.ca offers an extensive database of foreclosure properties for Greater Vancouver & Fraser Valley, ensuring you have access to a wide variety of options. Whether you’re looking for a cozy family home, an investment property, or a renovation project, our platform provides detailed listings that include crucial information, high-quality images, and easy-to-navigate filters to help you find the perfect match.

2. Expert Guidance

Navigating the foreclosure process can be complex, but our team of experienced real estate professionals is here to assist you every step of the way. We understand the intricacies involved, from legal considerations to financing options, and we’re committed to providing you with the expertise needed to make informed decisions.

3. Competitive Prices

Foreclosure properties often come at a significant discount compared to traditional sales, making them an attractive option for budget-conscious buyers and investors alike. With our market insights and data-driven analysis, Team Dana & Amar helps you identify properties with the best potential for appreciation, ensuring you get the most value for your investment.

4. Real-Time Updates

In the fast-paced world of real estate, timing is everything. BCHB.ca offers real-time updates on new listings, price changes, and sold prices. By subscribing to our alerts, you’ll be among the first to know when a property that meets your criteria becomes available, giving you a competitive edge in the market.

5. User-Friendly Experience

We pride ourselves on providing a seamless user experience. Our website is designed with you in mind, featuring an intuitive layout that makes searching for properties straightforward and efficient. Whether you’re on a desktop or a mobile device, you’ll find it easy to browse, compare, and save your favorite listings.

When you sign up for our VIP membership, we’ll create a personalized website featuring only the foreclosure properties that meet your specific criteria. You can easily track listings by categorizing them as favorites, possible, or rejected. Plus, you’ll have the ability to compare properties side by side, making your search more efficient and tailored to your needs!

Court order Sales – Conclusion

Choosing to buy a foreclosure property is an exciting journey, and Team Dana & Amar is here to ensure it’s a successful one. With our comprehensive listings, expert guidance, and user-friendly platform, you’ll be well-equipped to find the perfect property at an unbeatable price. Don’t miss out on the opportunity to invest in your future—start your search with BCHB.ca today and discover why we’re the top choice for foreclosure properties in British Columbia!

Learn about the HUGE changes in Real Estate market that came in January 2023. Canada Ban on Foreign Buyers, BC Home Buyer Rescission Period, BC End of Rentals and Age Restrictions in Strata Properties.

Learn about changes from Federal Budget 2024.

Before you consider buying a home learn more by checking the facts & tips on our Real Estate Blog page and see how the process works on our Buying a Home page.

Our BC Properties for Sale pages are a great way to get to know different communities. Begin with the photo presentations highlighting each community. Then review detailed information and real estate Market Statistics specific to that community.

Each community page also allows you to quickly access the BC Listings in that area, broken out by property type (houses for sale, duplex for sale, townhouses for sale, condos for sale and land for sale).

BC Homes for Sale - MLS® Listings - Custom Searches