Foreclosures in Pictou, NS

Need to receive the foreclosed listings in Pictou Nova Scotia?

So that you can secure a deal for your next property acquisition.

Who wouldn’t!

Let’s search closer.

You’ll discover two options to uncover foreclosures.

You can get the foreclosure list from your nearby real estate agent.

You can also look through several real estate web sites who index foreclosures.

In this handy guide, Let me show you:

  • How to obtain these listings
  • The dangers involved in buying a property foreclosure
  • Which other types of real estate you should search for

#1 Getting the list of real estate foreclosures in Pictou from a real estate professional.

This is the best option because realtors have access to all properties on the market from all real estate brokers.

On top of that, they already have advanced search tools which are not usually made available to the general public. With these software, they will be ready to provide you with a full listing of property that suits your criteria.

The listings will include:

  • Real Estate Foreclosures
  • Successions
  • Motivated vendors
  • Fixer-uppers

As well as all properties which matches the characteristics you’re looking for within your price range.

Not only will they provide the list, but you’ll also get email alerts of real estate which has just been recently available on the market through the local real estate board.

Those alerts are so important!

They match what you are in search of and…

Most especially, you’ll be among the first ones to find out because those listings have not yet become released publicly on MLS sites.

It may take up to five days before they’re listed on realty MLS.

This allows you an early start to take a look at the property and make an offer on a fantastic bargain!

Such great deals never stay long on the market and occasionally don’t even get to being released publicly.

Using a realtor is free and you are never obligated to buy.

Even though you may purchase real estate using a realtor’s help, they will only split the commission with the seller agent which is currently in place.

You will not get a better price making your offer without working with your realtor. The listing agent works for the seller’s interests, while the buyer realtor works in your interest.

Extra warranties and protection that greatly benefit your own deal can be offered by a few real estate agents.

A good real estate agent will provide important information when you decide to make an offer for a property, like:

  • Historic data on the property
  • Comparable property on the market
  • Municipal review
  • Comparison with similar properties sold recently

And more …

With the help of such critical information, you will be able to price the offer correctly.

Your own agent might make use of this data to begin negotiations with the broker that is acting for the lender who repossessed the property so that you can get your offer accepted and preferably obtain a good deal on your acquisition.

Realtors fully understand how to do paperwork competently and will also have insurance if they ever make a mistake. That provides you additional security on the purchase.

Get Pictou's foreclosure list absolutely free!

#2 Browsing for bank foreclosure properties on real-estate websites.

Available in the province of Quebec only, the most well known banner companies like Royal Lepage, Remax, etc. provide repossessed property lists search on their site.

Here’s the listing of websites with foreclosure details:

  • La Capital
  • ProprioDirect
  • Remax

What exactly are the cons of purchasing a repossessed home?

Obtaining a bargain on real estate is fantastic, but there are risks involved in this. Banks sell such properties with no statutory warranty.

That means that when there’s an issue related to the house or an unforeseen vice, you are unable to take legal action against them or get any kind of financial redress. It’s sold on an “as is” basis.

For this reason, lenders are a bit more wary therefore getting a loan to fund your property could be a lot more difficult.

Additionally, regarding the previous owners who defaulted on their regular monthly mortgage repayments, in some cases they additionally permitted their property to fall into dilapidation, damaged it or sometimes actually made use of the property to grow marijuana which may cause mold.

Going to see the property prior to putting in an offer is undoubtedly recommended, although occasionally it’s difficult to pay a visit to them and may well require a deposit or a blind offer.

It’s not often the case, but these are always things to consider before making any move.

Various other sorts of distressed sale & motivated sellers is also a good idea to take a good look at to find good deals.

Distress Sales & Determined Sellers

Distress property sales and/or motivated vendors can be even better than a property foreclosure. Such homes may be a pre-repossession or simply a vendor who wants to sell rapidly for many different reasons.

Pre-foreclosures / Sixty-day property repossession directive

With regards to a pre-foreclosure, the owner has got to liquidate rapidly in order to preserve his or her equity prior to the bank foreclosing on the house. In most cases, the lender has delivered to them a 60-day directive.

Stuck with two mortgages

One other reason for an owner to be forced to sell for a lower amount can be because they will have just purchased another home just before selling their present property and don’t want to get trapped with two mortgages.

Purchasing another house as a condition of selling their current house

It can additionally be that the home owner has made an offer on another property with an offer conditional to sell his current one. This may be their ideal home or perhaps they’re just attached to this contract and thus prepared to accept your offer.

Inheritance house sales or estate administration

A new owner who has just inherited their house is sometimes wanting to sell the house at lower than the market value due to a number of different reasons, so inheritance property sales might be fantastic finds as well.

Quite often, they just want the cash as soon as possible. Also, selling the home makes it easier to split this equity if there are a number of benefactors to the inheritance.

Fixer-Upper Properties

Properties which will be needing refurbishments can be another fantastic opportunity. These kinds of homes which need some care and attention tend to be usually priced much less than market price.

If you’ve got a supplementary budget for fixing up the property and you can do a lot of the building work by yourself, you can easily produce a nice profit .

In addition, you will be able to modify the property to your own personal preference and needs assuming your objective is to live there yourself.

If it’s for a quick resale, to make the most of resale value and market attractiveness you could always carry out strategic remodeling.

As in just about any real estate purchase, getting the home checked out is essential in ensuring that there is no major repair needed that could change your real estate bargain into an unprofitable one.

Vendors that really need to liquidate due to divorce proceedings

Separation and divorce has never been a nice experience and the home atmosphere is often rather uncomfortable. Although the two parties may come up with a short-term solution where one moves out to some other place, the truth that one person lives in the home and the other person needs to leave can cause additional disputes and unfairness.

In most cases, the ideal course of action is to sell the property as quickly as possible so they can go forward with their lives. They can to cash out on the equity and buy their very own property.

Forced real estate sales & foreclosures in conclusion

All these types of opportunity could apply to every kind of real estate including:

  • Commercial and industrial property
  • Condos
  • Housing
  • Income properties
  • Land and lots

In all types of distressed sale, you may feel as though you are taking advantage of an unfortunate situation however, they are addressing a big problem rapidly, even though they’re not receiving a high price for their home. It will still be a win-win scenario.

To access the bank foreclosed properties for free and without any commitment, simply complete the form.

Get Pictou's foreclosure list absolutely free!
Get Nova Scotia‘s custom foreclosure list.

Nova Scotia Foreclosure List Access Form

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