Foreclosed properties or bank owned properties are ones on which the owner defaulted to pay up the mortgage and the lender repossessed the property. Foreclosure properties in Alberta are sold either by a judicial sale, under the supervision of the court, or by a power of sale that allows the holder of the property to simply sell it without any court supervision.
As someone who wants to save money, you may be looking to these properties as an option. Beware… they can come with many complications and it is important to do your homework before you buy. Combing through multiple websites and publications in search of these potential bargins can be exhausting and overwhelming. The Lore Group’s, Coldwell Banker experienced Fort McMurray Realtors have the complete and up to date list of Fort McMurray Bank Sales, foreclosures, CMHC and Genworth sales, and the "know how" to guide you through this complicated process to find the best deal.
