Foreclosure Vancouver | Court Ordered Sales Vancouver Burnaby

Foreclosure Vancouver | Court Ordered Sales Vancouver Burnaby

October 2019 Foreclosure Court Order Sale List

How to write an offer on a foreclosure in Vancouver

How to buy a foreclosure or court ordered sale in Vancouver

Even in a city like Vancouver with a strong Real Estate market properties fall into Foreclosure or be subject to a Court Ordered Sale. I list and sell many foreclosure properties in the city of Vancouver, Burnaby, Richmond and the rest of the lower mainland. Working with an agent who knows how to deal with the banks, lawyers, and contract is vital. Buying and selling foreclosure properties is not a standard transaction. Most agents have zero, or a very limited, knowledge of these transactions.

I have handled numerous foreclosure listings in Vancouver with a number of different banks and lawyers. I have successfully sold, and recovered, over $25,000,000 in loan assets for my clients.

I assure you the court ordered sales I have handled in the last few years have been handled with the utmost professionalism resulting in sales every time.

If you are a bank or lawyer handling a foreclosure file please let me know and I will send you further information about my history of success.

Below is a full list of all current Vancouver Foreclosure, Vancouver Court Order Sales – October 2019 – 17 Detached houses for sale by court order. 12 apartment sales by foreclosure order. All listing provided by MLS Reciprocity program

Data was last updated January 19, 2020 at 09:10 PM (UTC)
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Example Process for court ordered sale in Vancouver:

We have an accepted offer of ($285,000) and are going before the court on Monday morning the 27th of April to approve the sale.

Completion: 30 business days after court approval

Possession: Noon – 1 day after completion

Adjustment: 1 day after completion

At court, any interested party may attend the proceedings and present a written offer on the property.  The principle objective of the Court is to protect the interests of the owner of the property being sold. The Court has few, if any, concerns about competing bidders, lawyers, realtors and others. The Court attempts to ensure that the best (almost always; the highest) offer is accepted. That is done by allowing competing bidders (including the bidder whose offer is already before the Court) to submit one final sealed bid. The Court opens and reviews all bids together and approves the best one. Once the bids are opened by the Court they cannot be changed in any way; the auction process is completely final.

The process described in the paragraph above was universal in British Columbia until recently. But now, especially on Vancouver Island, the Court sometimes follows a more complex system involving an initial, open and oral bid followed by a second, final and sealed bid.

All offers must be subject free; you can do your due diligence ahead of the Court date. The Court will not approve any offer with a “subject” (a purchaser’s condition precedent). The only acceptable (and mandatory) “subject” is a seller’s condition precedent (that the proposed sale is subject to Court approval).

All offers must have a deposit attached and must contain an attached Schedule A.  The Court will not approve any offer without a significant and real deposit (usually 5% of the purchase price, either already deposited in a realtor’s or lawyer’s trust account, or a bank draft or certified cheque attached to the offer).

The Court will not approve any offer without the FULL and PROPER name(s) of the buyer(s) (EXACTLY as such name(s) will appear in title if the offer is approved) shown on the first page of the offer. If there is more than one buyer, the offer must show if the buyers will be joint tenants or tenants in common. Once an offer is approved, the description of the buyer(s) cannot be changed in any way.

If you plan to bid on this property, you must be in Court no later than 9:40am. You can meet me there, and I will coordinate collection of all the competing bids.  The court house is located at 800 Smithe Street Vancouver, BC V6Z 2E1. We will most likely be in Court Room 32 or 33. My cell phone will be on (604-764-0711) if you cannot find me.

If you and your buyer are unable to attend court, please have your offer to me no later than noon on Thursday April 23rd, 2014 via email. This is NOT IDEAL. You should both be willing and able to attend court.

You CANNOT show up at court with a verbal offer. You must present an offer written on paper by a REALTOR. If you do not have a REALTOR my team can write the offer for you in ADVANCE of court. We do not have the ability to write the offer for you at the courthouse.

Please contact me with any questions.

Thank You,

Simon Clayton

Macdonald Realty


Zita Monaghan, Surrey 

Simon came referred to me by a respected acquaintance with a long track record at Macdonald Realty. On behalf of my employer, I needed to work on a sensitive Foreclosure involving a medical professional working and residing in Asia at the time. I was impressed by Simon’s professional communication and follow up throughout the listing and sale process. I know he cares about his contacts as I witnessed his follow up to ensure satisfaction to both the seller, and the buyer who he did not represent, as well as appraiser and cleaning company to whom he had no formal obligation. Simon comes highly recommend.

T. Lennie, North Vancouver 

Simon was referred to me through a mutual client. He very quickly became our “go-to guy” for selling properties in foreclosure. Over the past few years, he has listed (and sold!) multiple foreclosures in the Vancouver area. Every file has been handled in an extremely professional manner, and has received attention to even the smallest details. Simon’s experience, enthusiasm and knowledge have made it a pleasure to deal with him for the last few years – and hopefully for many more to come! I would highly recommend using Simon, and will definitely refer him to my friends, family and co-workers!