Greg & Colin Thornton RE/MAX Sabre

Colin Direct: 604-561-3306 | EMAIL |


Buying a Foreclosure Tip!

A foreclosed home may be a great way to get a deal on a house - but buyer beware.

A foreclosed property is typically sold "as is, with no warranty or representation" by the lender. For buyers, this means that what you see is what you get. The property may or may not have hidden defects, there are no guarantees, the appliances may not be in working order or may not even be there when you take possession. If there are any special levies, encroachments or issues with the land survey of the property, the buyer will generally be fully responsible.

Buying a foreclosed home can be risky, you’ll want to work with an experienced real estate agent who fully understands the foreclosure process. If done right, you will find a great home in which you may have some instant equity.

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