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Calgary Foreclosures Frequently Asked Questions

Q. How Do You Buy a Foreclosure?

A.. Buying a foreclosure involves making an offer to purchase in writing with a bank draft deposit attached to the offer. Home Buyer conditions like financing and home inspection are allowed on some properties. All offers are presented first to the lawyers and then to either the Court of Queens Bench, the bank, the mortgage company or the mortgage insurance company.

Q. Are Appliances included in Foreclosure Sales?

A. No appliances are included, however, if they are in the home on possession day, they go with the home.

Q. Are Real Property Reports and Condo Documents provided by the Foreclosure sellers?

A. No.

Q. What does "As Is" mean on a Foreclosure Listing?

A. "As Is" means the sellers have no legal responsibility for anything about the property or the house.

Q. Is it Risky to Buy A Foreclosure?

A. Buying a Foreclosure like buying anything has risks involved. Buyer Due Diligence is the tool to minimize risks and needs to be used on any property you are thinking of buying.

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Data supplied by CREB®’s MLS® System. CREB® is the owner of the copyright in its MLS® System. The Listing data is deemed reliable but is not guaranteed accurate by CREB®.
The trademarks MLS®, Multiple Listing Service® and the associated logos are owned by The Canadian Real Estate Association (CREA) and identify the quality of services provided by real estate professionals who are members of CREA. Used under license.
The trademarks REALTOR®, REALTORS®, and the REALTOR® logo are controlled by The Canadian Real Estate Association (CREA) and identify real estate professionals who are members of CREA. Used under license.