Do you want to get the property foreclosure listings in Stellarton Nova Scotia?
To help you save money on your next property purchase.
Me too!
Let’s dive in.
There are two ways to uncover foreclosed listings.
You can get the repossessed property list from your nearby realtor.
You can browse through different real estate sites who list foreclosures.
In this useful guide, I will show you:
- How to get a hold of these listings
- Any risks associated with buying a property foreclosure
- What other types of real estate you should consider as well
And more besides …
#1 How you’ll be able to obtain, from your local realtor,the list of real estate foreclosures in Stellarton, NS.
As realtors has access to all property on the market from all realty brokers, this really is the best solution.
The public don’t have access to the effective search resources that are available to realtors, who will be able to offer you a full listing of property that meets your requirements using these search methods.
The listings will include:
- Foreclosed Properties
- Successions
- Motivated vendors
- Fixer-uppers
As well as all property which matches the specifications you want within your budget.
Not only will they provide you with the listing, but you’ll get email notifications of real estate that has only just became listed for sale via the real estate board.
These updates are really important!
They match the property you’re looking for and…
Most importantly, since such listings have not yet been published publicly on MLS sites, you are among the first people to know.
It could take up to five days before they become available on realty MLS.
This will provide you with an early start to check out the property and put in a bid on a terrific bargain!
Attractive deals never stay long on the market and occasionally they never actually get to being listed publicly.
Dealing with a real estate agent is free and you are never obligated to buy whatsoever.
Even if you purchase real estate using a realtor’s help, they will only divide the existing commission with the seller agent which is already in place.
You won’t save money making an offer without using your realtor. The listing realtor is working for the seller’s interest, while the buyer realtor is working in your own interest.
A number of real estate agents offer additional guarantees and insurance which substantially benefit your transaction.
Any good real estate agent will likely give you essential details once you decide to make an offer for a property, including:
- Historical information about the property
- Similar property for sale
- Information about the surrounding neighborhood
- Recently sold comparables
And more …
Together with this data, you will be able to price your offer accordingly.
Your real estate agent may use this data in order to begin negotiations with the brokerage that acts for the lender who foreclosed on the property so you can get your offer accepted and hopefully get a favorable deal on the purchase.
Realtors know how to competently do paperwork and will have insurance if they ever make a mistake. This gives you extra protection on the transaction.
Get Stellarton's foreclosure list absolutely free!
#2 Looking on realty sites for lender-owned foreclosed properties.
Only available in the province of Quebec
Here is the listing of sites with property foreclosure listings:
- La Capital
- ProprioDirect
- Remax
What exactly are the drawbacks of buying a repossessed home?
Getting a lower price on home is wonderful, but sadly there are hazards involved . Loan providers sell such property without any legal guarantee.
This means that if there’s a problem related to the property or an unforeseen vice, you cannot take legal action against them or claim any kind of compensation. It’s sold to you on an “as is” basis.
Because of this, loan providers tend to be a bit more careful so that securing a mortgage in order to fund your purchase might be quite a bit tougher.
On top of that, when it comes to the prior owner who stopped paying their regular home loan payments, at times they also allowed their house to fall into dilapidation, vandalized it or sometimes even used the property to grow marijuana which may result in mould.
Paying a visit to the building before putting in a bid is undoubtedly highly recommended, though sometimes it’s difficult to visit them and may well require a down payment or a blind offer.
These are generally matters to take into account always before taking any action, even though it isn’t always that way.
Other kinds of distressed sale and determined sellers is also a good idea to examine to locate suitable bargains.
Distress Real Estate Sales & Determined Vendors
Distressed sales or determined vendors might be much more profitable than a foreclosure. These homes might be a pre-repossession or essentially a vendor who needs to sell fast for various reasons.
Pre-foreclosures / 60-day property foreclosure directive
Regarding a pre-foreclosure, the vendor has got to liquidate very quickly in order to protect his property equity prior to the bank repossessing the home. In most cases, the bank or mortgage lender has presented them with a 60-day instruction.
Caught with two home mortgages
One other cause for an owner becoming motivated to sell at a lowered amount might be for the reason that they have recently purchased another property before attempting to sell their present home and so don’t want to get trapped by two home mortgages.
Purchasing another home being a condition of selling their property
It could also be that the home owner made an offer regarding another house with an offer conditional to sell his existing one. This might be their ideal house or maybe they are obligated to stick to this deal and thereby prepared to accept your offer.
Succession / Heritage home sales or property liquidation
Succession house sales are often fantastic bargains also since the new owner who may have only just inherited their house may be often willing to liquidate the property at lower than market valuation for a number of different reasons.
Most often, they simply want the money as quickly as possible. In addition, selling off the house makes it easier to divide the asset in the event that there are several recipients of the estate.
Fixer-Upper Properties
Houses which would need refurbishment can be another fantastic opportunity. These houses are usually priced below market value since they require some love.
Should you have an extra spending budget for renovating the place and are able to do the majority of the renovations yourself, it is possible to make a good margin .
You also get to customize it to your own personal style and needs if your purpose is to live in the property.
If it’s for a flip, to improve resale value and market appeal you can always do strategic remodeling.
Like in every other real estate purchase, getting the property examined is crucial in making sure that there’s no major repair necessary that might turn your property bargain into a profitless flip.
Vendors that really need to liquidate because of divorce proceedings
Divorce or separation is never pretty and the domestic situation could be very unpleasant. Although they may determine a short-term solution where one person lives to some other place, the fact that one person lives in the house and the other one has to go may well cause further arguments and unfairness.
In most cases, the ideal course of action is usually to sell the house as soon as possible to allow them to go forward with their own everyday lives. They will be able to purchase their own homes after they make use of the property equity.
Distressed real estate sales & foreclosures in conclusion
All of these sorts of opportunity might apply to every kind of real estate and this includes:
- Commercial and industrial properties
- Condominiums
- Residential houses
- Rental properties
- Acreage
In all types of distress sales, you might get the feeling that you are profiting from an unfortunate scenario but, they are solving a difficult issue rapidly, even though they are not getting a premium price for their house. It’s still a win-win situation.
To access the bank foreclosures absolutely free and with no obligation, simply complete the form.
Get Stellarton's foreclosure list absolutely free!
Get Nova Scotia‘s custom foreclosure list.
Nova Scotia Foreclosure List Access Form
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