Need info on mortgage foreclosed houses for sale

[greendragonfly]

I'm looking into the possibility of purchasing a 'foreclosed' house in Ontario.
I could use any and all info. Thank You.

Does anyone know of a reliable way to find these type of houses? I've been to a few sites but haven't come across enough info yet.

Thanks again

[sunnybono]

I'm looking into the possibility of purchasing a 'foreclosed' house in Ontario.
I could use any and all info. Thank You.

Does anyone know of a reliable way to find these type of houses? I've been to a few sites but haven't come across enough info yet.

Thanks again


Good luck trying to find a "DEAL". when a bank forecloses on a proeprty they are bound by law to sell the proeprty at fair market value or else they can easily get sued by the previous owner.

sk

[mork]

I have a relative involved in this process in my area (SK) and basically the banks here call up 3 agents to provide a selling price they figure they can get and pick an agent (best estimated price?) based on that. The homes get listed on MLS like any other property would at a price comparable to any other house.

[mjl_toronto]

Don't have any experience in this either but that's mainly because I was told by my real estate agent that many times a bank will throw out any conditions you put on an offer because they don't care about carrying costs. One condition I would never give up is a home inspection so this is an automatic deal breaker for me.