COURT ORDER SALES : British Columbia, Canada : Court Order How It Works

How to purchase in 5 Steps

Buy Through CourtOrderSale.com Agent & Receive $500

Step #1.

The buyer Agent will present an offer to the listing Realtor who represents the Seller / Bank or Finance company and will negotiate on behalf of the Seller just like in a typical Real Estate Transaction. The Buyer can have Subjects on the offer, such as financing & inspection. All offers have to be an unconditional Contract of Purchase and Sale sold As Is Where Is, and a signed copy of Schedule 'A' (a Disclosure written by the Seller saying the sale of the property is As Is Where Is).

Step #2

After the Buyer has done their due diligence and removed all the Subjects, followed by a certified draft cheque, a court date will be booked. Typically 2-3 weeks. Closing is typically Two weeks after court approval

Step #3

Once the court date is scheduled, the accepted offer price will be disclosed to the public.

Step #4

The lawyer will give us the day, which is 2-3 prior to the court date, that any further offers, if any, can be submitted via email. The cut-off is typically 8 am - 4 pm that day. All other offers cannot be accepted after the cut-off time. It is similar to multiple offers on a non-court order sale. If the initial Buyer is the only interested party to show up on the court date, most likely, the court will accept the offer.

Step #5

If more than one interested party shows up, the initial first offer can resubmit another offer. All offers must provide a subject-free offer, As Is Where Is, Schedule A and attach a Certified Bank Draft. The initial Buyer who made the offer can submit a new offer with a higher price if other parties compete. The court will pick the highest offer. 2 weeks after it is vacant possession. In the past 38 years, we have rarely seen issues with court order sales and possession.

Mortgage Calculator

Purchase Amount:

Interest Rate:

Mortgage Term (Years):

Payment Interval:

Down Payment:

Closing Costs ($):

Closing Costs (%):

Loan amount:

Interest rate:

Payment interval:

Mortgage term:

Payment:

Total payments:

Total amount paid:

Total interest paid:

This calculator is for information purposes only. Users should not use this calculator to make any financial decisions and should speak with their bank or mortgage broker. The website owner does not guarantee the accuracy or reliability of any information or calculations provided by this calculator. The website owner is not liable for loss or damage of any kind arising from the use of this tool.

The data relating to real estate on this website comes in part from the MLS® Reciprocity program of either the Greater Vancouver REALTORS® (GVR), the Fraser Valley Real Estate Board (FVREB) or the Chilliwack and District Real Estate Board (CADREB). Real estate listings held by participating real estate firms are marked with the MLS® logo and detailed information about the listing includes the name of the listing agent. This representation is based in whole or part on data generated by either the GVR, the FVREB or the CADREB which assumes no responsibility for its accuracy. The materials contained on this page may not be reproduced without the express written consent of either the GVR, the FVREB or the CADREB.