Foreclosure Listings Canada – Foreclosures in Canada-Reasons and Tips to make a decision

26 October, 2011

Foreclosure Listings Canada is a great resource, but first let’s talk a bit of foreclosures. Reason for Foreclosures is simple. Home owners are not able to make mortgage payments. The reasons could be various- Job loss, divorce, ill health – in short, a change in financial situation. Further to the above reasons, it is the booming real estate market in prior years and global financial down turn and crisis. People have refinanced their homes by pulling out available cash for increased mortgage payments from their equity and are unable to make those payments for various reasons.

Foreclosed homes in Canada are sold in two ways:

Courthouse Auction sale: Check with the Courthouse assistant to verify available sales and dates. If the bids do not cover the mortgage balance, usually the bank or any other mortgage lender will buy out the property. But one cannot buy such a property as the balance of the mortgage payment has to be made on the date of the sale. House inspection is not possible prior to the purchase. You have to take it as it is. The highest bidder wins and gets to buy the property. Realtor or MLS Listings: Most of the foreclosed homes in Canada are sold by realtor even before the houses are listed on any foreclosure listings. The procedure is just like buying a regular property, the house can be financed, and you can do prior house inspection but need not pay any commission to anyone. To buy a home that is going into foreclosure, you make an offer to the home owner. If the offer does not cover the mortgage the bank has to approve the offer. If the house is already in foreclosure, you have to deal with only the bank. Check with the court house clerk/assistant to know if the house you want to purchase is already in the Courthouse Auction list

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Buying a foreclosed property is now a Smart Investment. It has become the fastest evolving trend in Canada now. It is important that the buyer considers every pros and cons before buying a foreclosure home.

Before starting on research on the foreclosure homes, the buyer should work on the plan. You must work out on the finances first- how much money you have and how much are you going to borrow. It is very important to understand and learn the buying and selling procedure of the foreclosed properties. You must decide on the best mode of purchase

It can be through bidding, through auctions or through negotiations. Once all the research is completed you can start the procedure with utmost care and caution. After the research, you have to understand what your needs and requirements are; start looking for a dependable source of property listing. It should be within your budget but should not end up in a compromising state. You can choose a local agent because they are the best as they know all about the location. You can then start looking for the foreclosure home listing. Apart from the above you need to locate a house where you can get necessary amenities and basic facilities of life. Choose a place where property rates will go up in the near future. This is an important point to consider if you are looking for a better resale value.

After you have short listed the foreclosure home, it is time to get on to the next step.

The next step is inspecting and viewing your future home. A thorough examination of every minute detail can show up things like utility dysfunction or structural weakness or damage. This validation inspection can cost you some but it is worth spending as it saves you from expensive repairs later.

Last but not the least- you must complete all the legal formalities and issues to save yourself from any unexpected future problems.

You have to have a realtor who is experienced and familiar with the area and location.

It is always easier to buy a foreclosed home from the bank direct than to buy at the courthouse auction. If you go in for a courthouse auction house, you have to deal with the unpleasant task of evicting occupants, house inspection and competitions from other eager buyers.

Joe Varling is the author for this article, as he is a Master in Foreclosure Homes in North America. Kindly visit M3REO GROUP to know more.

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Acreage For Sale Vancouver Island – Waterfront Vancouver Island – Why Investing In Vancouver Island Oceanfront Is A Smart Decision

13 March, 2011

British Columbia is one of the most picturesque places in all of Canada. Not only is it a great place to spend some time on a vacation, it is also a wonderful place to live, invest in property, and conduct business. Vancouver Island offers all this and more, in a setting that is steeped in rich history that can be traced back as far as the ice age period, a friendly environment, and magnificent landscapes displays.

Located in the Straits of Georgia and a short hour and forty minute ferry ride from British Columbia’s mainland, Vancouver Island is a three hundred and fifty mile long paradise.

The capital city of British Columbia, Victoria, is located here as well, and has proudly called the area home since 1850, when the days of the gold rush brought prospectors and their families to the island.

Today, the breathtaking sites, the climate, and the Vancouver Island oceanfront call to vacationers as well as those looking to relocate for a fresh beginning. The area is easy to navigate, distances to food, shopping, and accommodations are short, and the standards of quality are quite high.

In fact, Vancouver Island has been rated as one of the best places to live in the entire world.

By making the decision to purchase a Vancouver Island property for sale, you will be making an investment in your future, as well as gain the ability to build upon your home’s equity because of the unique settings located on the ocean, a lake, a river, or on private rolling acres.

There are almost endless possibilities to choose from when buying Vancouver Island properties.

Maybe you are looking to acquire a beachfront home that is just steps from gentle rolling surf where you can retire and enjoy walks on the beach and peaceful sunsets from your back patio. This area has all of that and more, at prices that are truly affordable for a variety of budgets.

If you are looking for easy family living, with safe neighborhoods, excellent school systems, nearby shopping and other fun recreation areas, you will be amazed at the options of properties for sale Vancouver Island has to offer. No matter if you are looking for a small, rural way of life, or if you prefer to have a big city experience, there is surely something for everyone in this area.

By many accounts, it is the very diversity of the area that is what is so appealing.

Where else can you enjoy swimming in the ocean, surfing, hiking, camping, biking, visits to historical sites, lush botanical gardens, skiing, sailing, fishing, world class spa treatments, wild life, and top notch dining, all with Pacific Ocean views?

There are also some of the best farmer’s markets, seafood markets, breweries, wineries, and cider mills located on Vancouver Island as well.

 

The oceanfront real estate opportunities that present themselves here abound. The wide variety of homes and locations to choose from make Vancouver Island waterfront a very worthwhile investment.

Visit WaterfrontVancouverIsland.net to discover the world of opportunity that awaits you in this Canadian island paradise.

 

Article from articlesbase.com

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