Vancouver Foreclosure Homes & Real Estates for Sale Listings
734 E 41ST Avenue in Vancouver: Fraser VE House for sale (Vancouver East) : MLS®# R2532309
734 E 41ST Avenue Fraser VE Vancouver V5W 1P5$1,150,000Residential Detached
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- 1,986 sq. ft.185 m2WOW!! Prime Vancouver East location, a block off Fraser street, close to Memorial South Park, John Oliver school. Convenient to transit, shopping and all sorts of restaurants etc. Bright and sunny, fully fenced corner lot with a southern exposure back yard with lane access. Open parking accessed off laneway. Unique 1927 character home with some upgrades over time: laminate floors,pant, bath fixtures tile floors etc. Upper floor has the old dormer style character vaulted ceilings - perfect area for a third bedroom, play area for the kids, home office or ?? Basement is perfect for a nanny with 2 full baths, 4 bedrooms and separate kitchen. Home also offers a separate laundry room out back. More detailsListed by Royal LePage West Real Estate Services
1391 E 17TH Avenue in Vancouver: Knight House for sale (Vancouver East) : MLS®# R2509513
1391 E 17TH Avenue Knight Vancouver V5V 1C7$1,598,000Residential Detached
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- 2,438 sq. ft.226 m2Large corner lot: 42'5 x 122' (E. 17th & Knight). Cedar Cottage neighbourhood, 15 minutes to downtown, Best price for chance to custom build large 2level home with 8 or 9 bedroomms with 4.5 bathrooms. Granite counters and maple kitchen cabinets. ft. **Accepting Subject Free Offers w/Deposit (bank draft) for Court by April 12th @ 12pm. Court Date is April 15th More detailsListed by eXp Realty
About Foreclosure listings
There are many names for a Foreclosure home. Many people call it foreclosed home, foreclosure home, bank repossessed house, or Court Ordered Sale. They mean the same thing. So what exactly does foreclosure mean?
In its simplest meaning, the word foreclosure means to deprive a borrower (in default) of the right to redeem the mortgaged property. In a way, it’s like a divorce proceeding – the borrower and lender under a mortgage go their separate way.
Foreclosure home sale is very different from a regular home sale. If you need an experienced Vancouver Realtor to guide you through the process, please let me know.
What is the process of Foreclosure in BC Canada?
See below simplified steps in a Foreclosure proceeding to find out how foreclosure works in BC.
- Demand letter.
- Order Nisi.
- Judicial Sale.
- Order Made After Application.
To see the detailed steps in a foreclosure proceeding. Please let me know.
Please note that this blog is for information only. Buyers & Sellers are advised to obtain independent legal advice before buying or selling a real estate property.
Here’s a simple guide on how to buy a Foreclosure Home in BC
- Search Foreclosure Listings BC
- Find a Realtor to write an offer.
- Review the Schedule A with the Realtor. Schedule A contains clauses that specifically protect the lender. The buyers must be aware that they are accepting the property “as is” and must sign this schedule to have their offer accepted by the lender.
- Acceptance of the offer. The offer may have conditions precedent, and it is advisable that the offer is left open for acceptance for a period of two or three days.
- The hearing of the application for order approving the sale.
- Completion of the sale.