Condo Foreclosures in Calgary come in a wide variety of conditions and locations. Every condo building in Calgary is unique. Condos come with issues. Just like detached homes need constant repairs and maintenance, so do condo buildings need constant repairs and maintenance. Some condo buildings are well managed and many are not. When you buy a foreclosed condo you are also buying into the condo building. The building issues become your issues. Buying a condo whether it's a foreclosed condo or not requires you to be on high alert for anything that could ruin your day. The sellers (bank and courts) do not supply any information or condo board documents to potential buyers. For More Information on Navigating the Condo Foreclosure Market Contact Us.
We have court ordered listings, bank-owned properties, handyman homes and distressed properties.
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?
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.
Q. What is a Schedule "A"?
A. The Schedule "A" used with Offers To Purchase is a one or two page addidtion that spells out exactly what "As Is Where Is" means to the buyer and seller. Contact Us if you would like a copy or just click here.