Vancouver Condo Real Estate Video Blog #162 - October 17, 2008
The myth about court ordered sales in Vancouver
Ian Watt video blogs about the myth about court ordered sales being fire sales. If you want to voice your opinion or if you don't care for Ian's comments please email your feedback to ianwatt@ianwatt.ca and visit http://www.ianwatt.ca/RealEstateVideos for all the Ian Watt Real estate Video Blogs.
Ian Watt: Hi good afternon! It’s Ian Watt West End in Denman in Downtown Vancouver. Now, right now I have a few court ordered sales and you can find them at ianwatt.ca. And click on the court ordered sale foreclosure page. Now, I got a lot of emails regarding them and everybody ask one question. What's the bottom line? What's will the court accept? Can I get it for $2,000 dollars less than what it's worth. Well chances are probably not that's a big myth. You know unfortunately court order sale do not mean fire sales that their giving away. The court has a responsibility to get the best price possible for all the parties involve. Now you might get it for a $400,000 dollars less. You might get $50,000 dollars less. I don't know but I am not not privilege to know the information about the outstanding amount on their mortgage and how much they defaulted so in this situation. My suggestion is right down your offers. Submit it to the court. Either they accept it or rejected. Either way you know the bottom line is. My name is Ian Watt. You can always email me at ianwatt@ianwatt.ca. Thank you very much and have a great day!