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Calgary Foreclosures Can Be Opportunities in Disguise

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Firstly, a foreclosure home is one that the bank or other lender is taking back from the purchaser as a result of the original lender being unable, for whatever reason, to repay the mortgage note. There's no arguing that, for the original owner, there's little good about a home foreclosure. On the other hand, foreclosed homes are often available for lower prices, opening areas of opportunity for first-time buyers or lower-income buyers to find something for which they might not otherwise have been able to qualify. Calgary foreclosures may offer a great way to affordably move into the growing Calgary residential area, or to purchase a home as an investment property rather than a residential one.


One drawback to Calgary foreclosures listings are that they can be hard to catch if you don't have an in on the process. You can spend huge amounts of time searching the daily paper, day after day, looking for sheriff's sales of foreclosed properties, trying to find just the one you want and then trying to win it. The alternative is to enlist the aid of an expert, one who has access to all the listings you need at once, and who can help you sift through them without wasting your valuable time.


A good realtor will also be able to access Real Property reports that will give you details you might not be able to get on your own, such as additions made by the former owner that may or may not have had the proper permits, and confirm the actual, surveyed and recorded property lines so there will be no disputes or complications. A fence put in the wrong place or across a property line, can make you liable for fees and the cost of moving it, so it's good to see what you'll encounter. He or she can also help you find the right contacts for any revisions you do need or want to make.


Some Calgary foreclosures listings are in decent shape and just need some minor revamping to suit your taste and needs. Others, depending on neighborhood, foreclosing entity and previous inhabitant, may be in very poor condition. Those can be great deals, if the basic "skeleton" of the house is sound and you'd rather spend money on fixing up than on purchasing. Again, a good realtor can address your needs and wants, time constraints and budget, to weed out the deal-breakers from the possibilities.


Calgary foreclosures can offer great opportunities under the right conditions. An experienced realtor, like Kelly Kernick or any member of his team, can assist any potential buyer in finding not just a foreclosure but the right foreclosure for your resources and your dreams.
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