Zondo answered
PropTrust’s mortgage dragon
buying distressed
I want to buy a court-ordered sale property in BC. What do I need to know?
Court-ordered sales need judge approval, which means a hearing where higher sealed bids can come in last-minute and beat yours. Closing takes 60–120 days vs 30–60 for normal sales — your financing must hold through that window. Properties sell as-is; no warranties, no chattel guarantees.
What your bank didn’t say
Realtors often pitch court-ordered sales as "deals." They sometimes are, but the lender has a duty to get fair value, so the discount is rarely large. The real cost is risk: appraisal coming in low, financing expiring, sealed-bid surprise at the hearing. Have 5–10% extra cash flexibility before you bid.
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PropTrust is a Canadian property data platform. We are not a lender, broker, real estate agent, landlord, or paid advisor. This is information about how the rules work — not advice on your specific situation. For that, talk to a licensed professional.