What is a Foreclosure?

When a homeowner falls behind on mortgage payments (often 3 months) and does not have the ability in the foreseeable future to catch up, the banks take control and foreclose on the property. Once the lender has started the foreclosure process it is rarely ever reversed. Mounting legal fees, late interest charges and accumulating debt make it near impossible for a homeowner to keep their property. Homes that have gone into foreclosure are often listed at lower prices and are on the market quickly so banks can recoup monies lost. Other important facts to know about foreclosures properties:

• Banks offer no guarantee or warranty on the property

• You buy the home As-Is

• A home inspection is highly advised

• Offers on foreclosures can be left open for as little as 24-72 hours or as long as 10 business days

Court Sales

Court and judicial sales of properties that have gone into foreclosure simply mean that a judge from the Court of Queens Bench in Alberta will decide on which fair offer to accept regarding foreclosed properties. A real estate agent will take an offer on a court sale to a lawyer who then presents it to a judge. There are a few key points to remember with court sales.


• The process can take up to 30 days to be completed

• Homebuyers are required to submit unconditional offers

• There can be multiple offers that a judge is taking into consideration on a single property

• The “buying as-is” policy applies

Grow-Op Homes

Grow-Op homes are residential properties that have been used to grow marijuana, commonly in basements. When discovered by authorities these homes are seized and foreclosed by the provincial government. Grow-op homes can be a gem for homebuyers and property investors. These homes are often sold below market value at a reduced price and do not stay listed for long. Important notes you need to know about grow-op homes are:


• You cannot get a mortgage on a busted grow-op home (has to be purchased in full)

• Buying the home is done under the condition that the homeowner has the property remediated

• The home must pass all health inspections set in place by Alberta Health Services before it can be lived in or resold

• All costs to get the home up to AHS standards are paid by the homeowner.


Here is the current list of Calgary and Area Foreclosures.

Foreclosures For Sale in Calgary

1-10/82
  • 120 EVANSTON View NW in Calgary: Evanston House for sale : MLS®# C4264288

    Main Photo: 120 EVANSTON View NW in Calgary: Evanston House for sale : MLS®# C4264288
    • Photo 1: 120 EVANSTON View NW in Calgary: Evanston House for sale : MLS®# C4264288
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    • Photo 18: 120 EVANSTON View NW in Calgary: Evanston House for sale : MLS®# C4264288
    $385,000
    Detached
    Status:
    Active
    MLS® Num:
    C4264288
    Bedrooms:
    3
    Bathrooms:
    3
    Floor Area:
    1,838 sq. ft.
    Fantastic Back to School opportunity. Get in quickly and start your family in a brand new school district and a new place to live! 2 storey, 3 bedroom 2.5 bath home with spacious living on the main floor. BONUS room upstairs and an untouched lower level waiting for your creativity. Out back you will have a deck and nice sz yard for the kiddos to play. This is a FORECLOSURE property and is sold "AS IS WHERE IS" More details
    Listed by CIR REALTY
    Dean Martin
  • 47 TEMPLEGREEN Place NE in Calgary: Temple House for sale : MLS®# C4264055

    Main Photo: 47 TEMPLEGREEN Place NE in Calgary: Temple House for sale : MLS®# C4264055
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    • Photo 16: 47 TEMPLEGREEN Place NE in Calgary: Temple House for sale : MLS®# C4264055
    $240,000
    Detached
    Status:
    Active
    MLS® Num:
    C4264055
    Bedrooms:
    3
    Bathrooms:
    2
    Floor Area:
    1,076 sq. ft.
    Priced to sell quick!!! Located on a cul-de-sac in the community of temple. Great starter home with updated windows, higher efficiency furnace and a partly open concept layout. 3 bedrooms and full bathroom on the upper level, spacious deck and single garage detached in the back. Perfect for contractors to renovate and sell. Close to schools, parks and all the amenities. House needs TLC. More details
    Listed by FIRST PLACE REALTY
    Dean Martin
  • 1311 4975 130 Avenue SE in Calgary: McKenzie Towne Condo for sale : MLS®# C4263927

    Main Photo: 1311 4975 130 Avenue SE in Calgary: McKenzie Towne Condo for sale : MLS®# C4263927
    • Photo 1: 1311 4975 130 Avenue SE in Calgary: McKenzie Towne Condo for sale : MLS®# C4263927
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    • Photo 10: 1311 4975 130 Avenue SE in Calgary: McKenzie Towne Condo for sale : MLS®# C4263927
    $163,900
    Apartment
    Status:
    Active
    MLS® Num:
    C4263927
    Bedrooms:
    1
    Bathrooms:
    1
    Floor Area:
    724 sq. ft.
    Ideal for your first home! Or a fantastic investment! This third floor 1 Bedroom Condo has a unique floorplan making much bigger than many others: almost 725 Square Feet. And low condo fees! The first thing you notice is the roomy entrance way flows into the Open Concept Kitchen with Breakfast Bar and huge Living Space featuring a gas fireplace. The Master Bedroom is spacious and bright. There's just so much storage: a storage room with In-Suite Laundry, 2 large Closets, and a Pantry. This quiet, well managed building is in a great location, steps away from shopping, restaurants, pubs, and easy access in and out of the community. Come see it for yourself! More details
    Listed by MAXWELL CAPITAL REALTY
    Dean Martin
  • 12 RUNDLESON Way NE in Calgary: Rundle House for sale : MLS®# C4263142

    Main Photo: 12 RUNDLESON Way NE in Calgary: Rundle House for sale : MLS®# C4263142
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    $325,000
    Detached
    Status:
    Active
    MLS® Num:
    C4263142
    Bedrooms:
    4
    Bathrooms:
    2
    Floor Area:
    1,072 sq. ft.
    ATTENTION FIRST-TIME HOME BUYERS or smart INVESTORS , Welcome to this great location affordable home total of 4 bedrooms 2 full baths bungalow features main floor good size living room , kitchen dining room ,three bedrooms and full bath , fully finished lower level with large family room ,kitchen , bedroom and full bath , large fenced back yard , close to schools bus , C- Train and all Amenities . More details
    Listed by CIR REALTY
    Dean Martin
  • 3212 1620 70 Street SE in Calgary: Applewood Park Condo for sale : MLS®# C4263886

    Main Photo: 3212 1620 70 Street SE in Calgary: Applewood Park Condo for sale : MLS®# C4263886
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    • Photo 38: 3212 1620 70 Street SE in Calgary: Applewood Park Condo for sale : MLS®# C4263886
    • Photo 39: 3212 1620 70 Street SE in Calgary: Applewood Park Condo for sale : MLS®# C4263886
    $124,800
    Apartment
    Status:
    Active
    MLS® Num:
    C4263886
    Bedrooms:
    1
    Bathrooms:
    1
    Floor Area:
    615 sq. ft.
    AMAZING DEAL ALERT!!! INVESTORS, First Time Home Buyers, COME one, COME all, to see this SUPER AFFORDABLE CONDO - this is one of the BEST in the COMPLEX!!! Just WAIT until you see the AWESOME VIEWS from the BEDROOM and BALCONY - you will SURELY LOVE IT. WELCOMING foyer w/BIG CLOSET, LARGE, Private Living room, TRENDY, AWESOME Kitchen w/WHITE cabinetry, TONS of COUNTER SPACE + Breakfast bar, SPACIOUS Dining room w/Doors to the AMAZING Balcony w/BEAUTIFUL VIEWS over the POND BEHIND THE BUILDING - nothing will GET IN THE WAY of these GREAT views! The GOOD-SIZED Master bedroom has DUAL CLOSETS + MORE VIEWS! There is also a 4 pc Bath, VERY CONVENIENT In-Suite Laundry, + a SPOT for your LINENS! Condo fees include ALL UTILITIES, including ELECTRICITY! Shopping (INCLUDING COSTCO) is less than 5 MINS AWAY, just over STONEY TRAIL, which also gives you SUPER EASY ACCESS to everywhere you NEED TO GO! WOW! WHAT a DEAL! Don't miss out, you HAVE TO BOOK YOUR SHOWING TODAY! More details
    Listed by RE/MAX HOUSE OF REAL ESTATE
    Dean Martin
  • 201 7130 80 Avenue NE in Calgary: Saddle Ridge Condo for sale : MLS®# C4263593

    Main Photo: 201 7130 80 Avenue NE in Calgary: Saddle Ridge Condo for sale : MLS®# C4263593
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    $199,900
    Apartment
    Status:
    Active
    MLS® Num:
    C4263593
    Bedrooms:
    2
    Bathrooms:
    2
    Floor Area:
    963 sq. ft.
    Spacious second floor corner two bedroom condominium with a great location! Bright floor plan with an open concept living room, den, dining room, & functional kitchen with an abundance of counter space and unique tile flooring. Master bathroom with ensuite plus an additional bedroom and bathroom. Titled parking stall and large in suite storage. Huge balcony perfect for entertaining and large windows allowing plenty of light to filter into the space. Quick possession available. Great location close to all amenities and LRT station. A must to see! Call today. More details
    Listed by MAXWELL CAPITAL REALTY
    Dean Martin
  • 2103 MILNE Drive NE in Calgary: Mayland Heights House for sale : MLS®# C4263387

    Main Photo: 2103 MILNE Drive NE in Calgary: Mayland Heights House for sale : MLS®# C4263387
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    • Photo 37: 2103 MILNE Drive NE in Calgary: Mayland Heights House for sale : MLS®# C4263387
    $380,000
    Detached
    Status:
    Active
    MLS® Num:
    C4263387
    Bedrooms:
    4
    Bathrooms:
    2
    Floor Area:
    1,006 sq. ft.
    WELCOME to Mayland Heights; an Inner City community that has it all, : C-Train, schools, pubs, grocery stores, parks, and a private overpass to Renfrew and Bridgeland.3 Bedroom Bungalow GREAT LOCATION. good shape of linoleum, bathroom vanity, shingles. Features main level a large living room, spacious kitchen with a good size dining area and pantry, rear entrance that leads out to the generous south back yard and rear garage, also easy access from the rear door to the basement with good size bedroom , living room/recreation room is bright and extremely spacious. More details
    Listed by RE/MAX REAL ESTATE (CENTRAL)
    Dean Martin
  • 1205 6635 25 Avenue NE in Calgary: Pineridge Condo for sale : MLS®# C4261088

    Main Photo: 1205 6635 25 Avenue NE in Calgary: Pineridge Condo for sale : MLS®# C4261088
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    $179,500
    Apartment
    Status:
    Active
    MLS® Num:
    C4261088
    Bedrooms:
    2
    Bathrooms:
    2
    Floor Area:
    832 sq. ft.
    Spacious 2nd floor suite with 2 bedrooms and 2 baths plus a insuite laundry/storage room. The good sized kitchen has plenty of cabinets and counter space. The living room and dining area are bright and have access to the large covered balcony. The master bedroom has a walk thru closet and 3 piece bath. A generous sized 2nd bedroom and full bathroom complete this unit. Comes with 1 titled parking stall in the heated underground parkade. Close to transit, schools and shopping. More details
    Listed by RE/MAX REALTY PROFESSIONALS
    Dean Martin
  • 425 Evanston View NW in Calgary: Evanston House for sale : MLS®# C4263403

    Main Photo: 425 Evanston View NW in Calgary: Evanston House for sale : MLS®# C4263403
    • Photo 1: 425 Evanston View NW in Calgary: Evanston House for sale : MLS®# C4263403
    • Photo 2: 425 Evanston View NW in Calgary: Evanston House for sale : MLS®# C4263403
    • Photo 3: 425 Evanston View NW in Calgary: Evanston House for sale : MLS®# C4263403
    • Photo 4: 425 Evanston View NW in Calgary: Evanston House for sale : MLS®# C4263403
    • Photo 5: 425 Evanston View NW in Calgary: Evanston House for sale : MLS®# C4263403
    • Photo 6: 425 Evanston View NW in Calgary: Evanston House for sale : MLS®# C4263403
    $529,900
    Detached
    Status:
    Active
    MLS® Num:
    C4263403
    Bedrooms:
    5
    Bathrooms:
    3
    Floor Area:
    2,589 sq. ft.
    WOW, what a location- Backing onto Park and playground- Spacious 5 BEDROOM home with everything a family could need. Spacious layout with over 2550 sq. ft of complete living space. This home offers large open foyer with den; formal dining room area or flex room for the main level plus a large bright open kitchen, walk in pantry, huge center island with pushed out sunny nook with bay window leading to patio and fenced in yard and views of the playground. Family room with hardwood floors, soothing stone fireplace w/ tall ceilings. Many windows on upper and main level which allow views of park and abundance of light!! You can also covert back the 5th room which has vaulted ceilings into a bonus room. Huge Master bedroom with a luxurious 5 piece ensuite w/ double sink, soaker tub and master retreat for reading and excercising. Main floor laundry, unspoiled bsmt, dble attached garage and much more. Very close to schools, shopping, parks and easy commute via stoney trail. A must to see. Call today. More details
    Listed by MAXWELL CAPITAL REALTY
    Dean Martin
  • 129 23 MILLRISE Drive SW in Calgary: Millrise Condo for sale : MLS®# C4263364

    Main Photo: 129 23 MILLRISE Drive SW in Calgary: Millrise Condo for sale : MLS®# C4263364
    • Photo 1: 129 23 MILLRISE Drive SW in Calgary: Millrise Condo for sale : MLS®# C4263364
    • Photo 2: 129 23 MILLRISE Drive SW in Calgary: Millrise Condo for sale : MLS®# C4263364
    • Photo 3: 129 23 MILLRISE Drive SW in Calgary: Millrise Condo for sale : MLS®# C4263364
    • Photo 4: 129 23 MILLRISE Drive SW in Calgary: Millrise Condo for sale : MLS®# C4263364
    • Photo 5: 129 23 MILLRISE Drive SW in Calgary: Millrise Condo for sale : MLS®# C4263364
    • Photo 6: 129 23 MILLRISE Drive SW in Calgary: Millrise Condo for sale : MLS®# C4263364
    • Photo 7: 129 23 MILLRISE Drive SW in Calgary: Millrise Condo for sale : MLS®# C4263364
    • Photo 8: 129 23 MILLRISE Drive SW in Calgary: Millrise Condo for sale : MLS®# C4263364
    • Photo 9: 129 23 MILLRISE Drive SW in Calgary: Millrise Condo for sale : MLS®# C4263364
    • Photo 10: 129 23 MILLRISE Drive SW in Calgary: Millrise Condo for sale : MLS®# C4263364
    • Photo 11: 129 23 MILLRISE Drive SW in Calgary: Millrise Condo for sale : MLS®# C4263364
    • Photo 12: 129 23 MILLRISE Drive SW in Calgary: Millrise Condo for sale : MLS®# C4263364
    • Photo 13: 129 23 MILLRISE Drive SW in Calgary: Millrise Condo for sale : MLS®# C4263364
    • Photo 14: 129 23 MILLRISE Drive SW in Calgary: Millrise Condo for sale : MLS®# C4263364
    • Photo 15: 129 23 MILLRISE Drive SW in Calgary: Millrise Condo for sale : MLS®# C4263364
    • Photo 16: 129 23 MILLRISE Drive SW in Calgary: Millrise Condo for sale : MLS®# C4263364
    • Photo 17: 129 23 MILLRISE Drive SW in Calgary: Millrise Condo for sale : MLS®# C4263364
    • Photo 18: 129 23 MILLRISE Drive SW in Calgary: Millrise Condo for sale : MLS®# C4263364
    • Photo 19: 129 23 MILLRISE Drive SW in Calgary: Millrise Condo for sale : MLS®# C4263364
    $232,500
    Apartment
    Status:
    Active
    MLS® Num:
    C4263364
    Bedrooms:
    2
    Bathrooms:
    2
    Floor Area:
    874 sq. ft.
    GREAT GROUND FLOOR two bedroom unit in this popular, well located and well managed Canvas at Millrise complex. Short distance to cTrain transit. Open concept, good size kitchen with stylish cabinets, and a huge island. Living room and kitchen. Master bedroom features a walk-through closet leading to the 4pc ensuite. Second bedroom with a full 4-piece bath. Unit comes with a titled underground parking and your own secured. Building is located conveniently next to Sobeys, Starbucks (!), and restaurants. It's a short walk to the C-Train, movie theatre, quick access to fish Creek Park and more. ***COME CHECK THIS OUT*** More details
    Listed by SUTTON GROUP CANWEST
    Dean Martin
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Data was last updated August 20, 2019 at 02:05 PM (UTC)
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