Red Deer Foreclosures and Court Sales

Court or judicial sales, Red Deer foreclosures are properties the Court of King’s Bench has ordered to be listed for sale. Only offers without conditions will be considered, and the judge will make the final decision on the sale. A property in foreclosure is more involved than the average sale, and it is recommended to always work with a real estate agent who is familiar with the process. Some of the things to consider when buying a foreclosure in Red Deer Alberta.

The judge will determine when the possession day is, it typically is a month after the court date, but is subject to vary.
An offer must be left open long enough for the court time to be scheduled, if the offer is even acceptable. This can take weeks or even months depending on how busy the courthouse is.
An offer is not negotiated typically, the plaintiffs’ lawyers will just decide if it is worthwhile taking the offer to court.
No Real Property Report (RPR) or land survey will be provided.
It is possible sometimes the person being foreclosed on is still living in the property adding additional risk for the buyer, as the property is to be purchased as is condition.
Items not attached to the property may not come with the property, and will not be written into the offer.

Red Deer Bank Owned Properties

Purchasing a Red Deer bank owned property is similar to purchasing most other homes on the MLS®, as opposed to real estate in foreclosure. There are some considerations though when buying a bank owned property in the Red Deer area. We do have access to the following lenders properties: ATB, Bank of Montreal Bank of Nova Scotia, Canada Mortgage and Housing, CIBC, Concentra, Fairstone Financial, Genworth Mortgage Corporation, Invesco Mortgage, Manulife, MCAP, MNP Ltd, National Bank, RBC, Sagen Mortgage, Toronto Dominion, and Western Trust. Some things to consider when purchasing bank or financial institution owned property.

Most lenders will allow for conditions, such as home inspection, condo document review, and financing inspections.
Time is often required before the lenders repetitive will review the offer, it may take a few days to get a response.
The property is to be purchased in as is condition. The banks are not aware of defects with the property and are likely not up for negotiating over the condition of the real estate.
Appliances are typically left on the property but will not in any way be part of the purchase contract.
A Real Property Report (RPR) will not be provided. A purchaser may opt for title insurance, but any issues with a future land survey or RPR would be at the buyer’s risk.

Red Deer Foreclosures

No listings found.

Data was last updated June 7, 2025 at 08:05 AM (UTC)

Data is supplied by Pillar 9™ MLS® System. Pillar 9™ is the owner of the copyright in its MLS®System. Data is deemed reliable but is not guaranteed accurate by Pillar 9™.

The trademarks MLS®, Multiple Listing Service® and the associated logos are owned by The Canadian Real Estate Association (CREA) and identify the quality of services provided by real estate professionals who are members of CREA. Used under license.