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People try to find foreclosure listings for sale because they are looking for a deal. And it's true that much of the time, the list prices of foreclosures (and other types of distressed listings) are lower than the list prices of generic homeowners. It's all about risk, work & reward. Foreclosure is the process where lenders (often banks) become the owners of homes because the previous homeowners have stopped paying a mortgage. Banks (or their lawyers, acting as agents) list these homes for sale in order to recover their investments. Generally, those agents specify what kind of contract they require the buyer to sign. They may be listed 'as is where is' or 'as is where is on possession', which mean different things (differing levels of risk). They may or not be discounted for this risk... Sometimes foreclosures and court listings are good deals, but not always, and don't forget that generic listings can be well priced, too. Often it is possible to have a property inspection as well as a financing condition during the purchase of a foreclosure, but not always. The properties below have either been listed by their REALTORS® either as 'court sales', 'bank/financial institution-owned' or 'foreclosure'.
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$219,900
Foreclosure
Reduced
Eagle Ridge 2 Bed 2 Bath 1030sqft
ROYAL LEPAGE TRUE NORTH REALTY
$40,000
Downtown 1 Bed 1 Bath 701sqft
RE/MAX FORT MCMURRAY
$104,000
Downtown 2 Bed 2 Bath 851sqft
$229,000
Eagle Ridge 2 Bed 2 Bath 946sqft
$245,000
Timberlea 3 Bed 2 Bath 1505sqft
COLDWELL BANKER FORT MCMURRAY
$469,900
Thickwood 4 Bed 2.5 Bath 1571sqft
$499,900
Timberlea 3 Bed 2.5 Bath 2098sqft
$509,900
Wood Buffalo 4 Bed 3 Bath 1275sqft
$214,900
Timberlea 3 Bed 2 Bath 1368sqft
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