How to Buy a Foreclosure in Calgary

As with any city, there are currently plenty of Calgary foreclosures. If you are looking for a dwelling in this situation, either as an investment opportunity or a primary residence, Amansad Financial can connect you with realtors who can give you access to the most updated Calgary Foreclosures. Before you jump into the foreclosure market, though, there are a few things that you should consider.

Steps to Buying Foreclosures in Calgary

1. Make sure you get a home inspection.

When purchasing Calgary foreclosures, you don’t get any of the seller disclosures that are normally a part of purchasing a home. Instead, you are buying a house “as is.” In order to make the best offer possible, spend a few hundred dollars to arrange a home inspection. That price is well worth it, as your inspector will give you a thorough report on a home’s mechanical components and structure. A bank is not going to pay for repairs, so you need to adjust your offer to reflect the cost of fixing the problems that the inspector notes.

2. Make sure the home is no longer winterized.

Particularly in the wintry climes of the north, you may end up with a home that has been shut down for the winter. You might find that the water has been turned off, the water lines have air pressure inside them (or are blown completely), and even the electricity might be off. If you buy a home in this position, bring in a licensed plumber and electrician to make sure that everything gets turned back on safely.

Buying a foreclosure in Calgary is a little different than buying a home from a traditional seller. Talk to one of the pros at Amansad Financial to find the best Foreclosures in Calgary for you and your family!

Send Share or Bookmark: