When buyers tell me they're after the best deal possible, foreclosures are almost always the first thing they ask about. And I understand why. The word alone makes people picture a property going for half of what it's worth.
Here's the honest truth: in BC, that's mostly a myth. There can be real opportunities in foreclosures, but the process today is nothing like the wild west people imagine, and the rules that govern it surprise most buyers.
In this video, I walk through how foreclosures actually work here in the Okanagan, why the court has a say in the final price, and the one condition that can turn a great deal into an expensive surprise.
Watch my video before you start your search, so you know exactly what you're getting into.