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BC 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.

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Highest-Priced Foreclosures in Metro Vancouver

Curious about the upper end of the foreclosure market? Here are some of the highest-priced court ordered properties currently listed across Metro Vancouver and the Fraser Valley.

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1-20/21
1-20/21
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Data was last updated August 30, 2026 at 10:40 PM (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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Are you facing foreclosure?

BC Foreclosures Court Order Sales Foreclosed homes properties, MLS Listings BC

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!

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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!

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.

There’s no fixed discount, and it varies by property, location, and how competitive the court hearing is, but foreclosures in BC commonly sell below market value because lenders prioritize a timely recovery of their loan over maximizing price, and buyers are taking on more risk (no disclosures, no warranties, “as-is” condition). That said, discounts can shrink or disappear entirely in a strong market or when a property draws multiple competing offers in court — the price is ultimately whatever the Court approves, not a guaranteed bargain. Buyers should approach every listing with a realistic view of local comparable sales rather than assuming a set percentage off.

Deposit requirements are set by the lender’s lawyer and can vary from listing to listing, but expect a deposit to be a standard part of any offer — and mandatory for any offer presented in court. Competing offers presented at the court hearing must be condition-free and include proof of deposit. 

Because you may be competing against other buyers at the court hearing, having your deposit ready and your financing pre-arranged in advance is critical; you won’t have time to arrange it after the court date is set.

Yes, but the process requires more preparation than a typical resale purchase. Because the lender selling the foreclosure won’t make any disclosures or offer warranties on the property’s condition, your mortgage lender may require a satisfactory inspection or appraisal before approving financing — and since court dates are often set only 2 to 4 weeks after your offer, there’s limited time to sort out financing issues. Getting pre-approved before you make an offer, and working with a mortgage broker familiar with BC foreclosure timelines, will help avoid losing a deal to a financing delay.

Tenant rights under the BC Residential Tenancy Act don’t automatically disappear just because a property is in foreclosure — a sale alone doesn’t end an existing tenancy. However, the court overseeing the sale can address possession directly in its order, and in many cases will direct that vacant possession be delivered as part of approving the sale. If the order doesn’t clearly address the tenancy, the buyer may need to pursue a separate application for possession after closing, which can cause delays. Because this depends heavily on how the specific court order is worded, buyers should confirm the occupancy status and the terms of possession before finalizing an offer — ideally with legal advice.

The full BC foreclosure timeline can run anywhere from several months to over a year, depending on the stage at which it resolves. After a homeowner misses payments, it typically takes about 2 to 3 months before the lender gains the right to petition the Court. From there, the Order Nisi sets a redemption period — traditionally 6 months — during which the homeowner can still pay off the debt and stop the process. If the property proceeds to a judicial sale, buyers should also expect a court date roughly 2 to 6 weeks after an accepted offer before the sale can close. Because so much of the timeline depends on the Court’s schedule, exact dates are never guaranteed in advance.

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).

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