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#119279 - 04/29/06 07:56 AM Foreclosures/Pre-forclosures
2 62n6266mn Offline
Member

Registered: 04/06/06
Posts: 10
Anyone know how these work in Canada, specifically Calgary, as to where to find them?

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#119280 - 04/29/06 08:05 AM Re: Foreclosures/Pre-forclosures
Sheldon Johnston Offline
Member

Registered: 10/11/05
Posts: 428
Loc: Edmonton, Alberta, Canada
how these work?
Do you mean how does the process of judicature work or how does the process of buying one work.
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Sheldon Johnston
Coldwell Banker Johnston

www.edmonton-homes.ca

Blog http://www.edmontonrealestateblog.com/

Edmonton, Alberta

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#119281 - 04/29/06 08:07 AM Re: Foreclosures/Pre-forclosures
2 62n6266mn Offline
Member

Registered: 04/06/06
Posts: 10
I'm specifically looking for how to find them, where to look?

But that information on the process of buying them and everything else to do with foreclosures would be great.

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#119282 - 04/29/06 11:18 AM Re: Foreclosures/Pre-forclosures
Sheldon Johnston Offline
Member

Registered: 10/11/05
Posts: 428
Loc: Edmonton, Alberta, Canada
Your local real estate agent is your best source. In the near future one agent will have access to all CMHC foreclosures but there is also individual institutions, and court ordered sales. These will generally be listed on MLS with an agent. When I know who gets the contract for the cmhc properties for Alberta I will post it.
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Sheldon Johnston
Coldwell Banker Johnston

www.edmonton-homes.ca

Blog http://www.edmontonrealestateblog.com/

Edmonton, Alberta

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#119283 - 05/01/06 12:31 PM Re: Foreclosures/Pre-forclosures
rohail Offline
Junior Member

Registered: 05/01/06
Posts: 2
What about the process of judicature?

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#119284 - 05/01/06 02:00 PM Re: Foreclosures/Pre-forclosures
Sheldon Johnston Offline
Member

Registered: 10/11/05
Posts: 428
Loc: Edmonton, Alberta, Canada
Can you elaborate further on your question?
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Sheldon Johnston
Coldwell Banker Johnston

www.edmonton-homes.ca

Blog http://www.edmontonrealestateblog.com/

Edmonton, Alberta

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#119285 - 07/18/06 10:59 AM Re: Foreclosures/Pre-forclosures
JohnnyThreeway Offline
Junior Member

Registered: 07/11/06
Posts: 8
Loc: CA
is there an established REO (real estate owned - foreclosed homes) industry in Canada similar to that in the US? And if there is, could anyone point me to some web sites of the major sellers of these types of homes.

Thank you.

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#119286 - 07/27/06 09:10 PM Re: Foreclosures/Pre-forclosures
Sheldon Johnston Offline
Member

Registered: 10/11/05
Posts: 428
Loc: Edmonton, Alberta, Canada
These properties are marketed on MLS. Contact your local Realtor. Where I work we can handle the entire province of Alberta. Most financial institutions and court ordered sales also go through MLS.
_________________________
Sheldon Johnston
Coldwell Banker Johnston

www.edmonton-homes.ca

Blog http://www.edmontonrealestateblog.com/

Edmonton, Alberta

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#436395 - 05/29/14 08:00 AM Re: Thinking of adding individual province sub-forums - your opinions please [Re: Admin]
bpogiant Offline
Junior Member

Registered: 05/29/14
Posts: 2
Loc: USA
Does anyone know if Canada has a similar market of BPOs like USA?

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#436438 - 05/30/14 03:43 AM Re: Thinking of adding individual province sub-forums - your opinions please [Re: 2 62n6266mn]
doug Offline

Admin
Veteran Member

Registered: 12/31/69
Posts: 1096
Loc: Canada
The opportunities for BPOs in Canada is somewhat different and a lot smaller. There are really just a few large relocation companies doing most of the work. When I worked for one of the large national real estate companies that also owned one of the largest relocation companies it would be the office broker nearest to the subject property doing the BPO.

Smaller financial and relocation companies tended to use just one agent in an area for BPOs and that agent would often end with the listing if the property came to market. That was the major reason for taking the (low paying) BPO. No one I know really thinks of BPOs as a viable revenue stream.

There doesn't seem to be a lot of BPOs. Full evaluations seem to be more usual.

I have been not actively selling real estate for a few years now so there may have been some changes.
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#442719 - 01/25/15 04:39 AM Re: Thinking of adding individual province sub-forums - your opinions please [Re: 2 62n6266mn]
markj-b Offline
Member

Registered: 12/31/14
Posts: 50
Loc: kelowna canada
Foreclosures in Canada are night and day different to the US. The best deals in Canada will always be pre-foreclosure and that means your realtor has to keep their ears to the ground or pull title and look for signs of trouble (Pending litigation etc). If you get in there, there is less competition. In court the Master/Judge is required to prove that they are getting fair market value for the property. If it is a great deal, the listing realtor will have done (should have done) an awesome job of creating competition in the courtroom to ensure that the property sells for FMV
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