Advantages
- Selling price below market value
- Quick and flexible takeover
- Potential for significant profits
Disadvantages
- No legal warranty of quality
- At the buyer’s risk
- Not enough information about the property
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List of Foreclosed properties for sale by Desjardins
In an increasingly competitive real estate market where property prices continue to climb, foreclosures are more in demand than ever.
Among the lenders that display the most foreclosures for sale, Desjardins is the most prolific.
If you are interested in finding repossessed properties for sale in Quebec from Desjardins, you have come to the right place.
You can use the free form on this page to obtain the list of Desjardins foreclosed properties for sale. Speak to a partner real estate broker to tell him your criteria and your budget.
What is a repossessed house for sale?
First, let’s answer the very popular question: Is it a good idea to buy a foreclosed house?
This answer is not black or white. It can indeed be very advantageous to buy a foreclosed property when it is purchased below its market value.
That being said, such a purchase is not without risks. Repossessed houses for sale have no legal warranty of quality which makes the buyer vulnerable in the event of an apparent or hidden defect.
Should you buy a foreclosed property from Desjardins?
It's case by case basis. Some properties you find online are great bargains, and others are trouble spots to avoid. To make a good choice, we recommend that you shop around with the help of a real estate broker. With a broker’s experience, he will be able to guide you and help you make a smart choice.
Advantages and disadvantages of a repossession in Quebec
A repossession, whether for sale by Desjardins or another mortgage lender, comes with advantages and disadvantages.
Even though they are sold through real estate brokers, the information available about foreclosed homes is often lacking. This means that the buyer has very little to base his decision on.
On the other hand, Desjardins and other banks are ready to sell their repossessed properties at prices below their real market value. They want a quick sale that pays off the customer’s mortgage balance.
Here is a summary of the pros and cons to consider:
Where to find Desjardins Foreclosed Houses?
Every year, we receive hundreds of requests from customers and buyers looking for repossessed homes.
We have therefore decided to create this page in order to provide the necessary information, as well as the best method for finding all Desjardins finance foreclosures for sale in Quebec.
We have partner real estate brokers with whom we have an excellent relationship.
They can send you a list of repossessions for sale according to your criteria and your budget.
Fill out the form on this page or click on the following link to obtain the list of Desjardins finance foreclosures!
Number of foreclosures – Desjardins, the largest mortgage lender in Quebec
What is a foreclosure? This is a property where the owner has defaulted on the payment of his mortgage or municipal taxes, allowing the bank to take over the property.
It is, therefore, mortgage lenders who recover properties in default and then entrust them to brokers to assist them with the sale of these properties.
The lenders with the largest number of mortgages in Quebec are:
- Desjardins
- National Bank
- BMO
- Royal Bank
- Scotiabank
- CIBC
- Laurentian
40%+ of mortgages are with Desjardins
According to a 2019 study, more than 40% of mortgages granted in Quebec were with Desjardins. It is therefore not without surprise that the majority of finance repossessions come from this lender.
What are the other sources of foreclosed houses on the market?
Where can I find bank-repossessed houses on the market? This is the question that comes up most often. Obviously, you can consult a broker directly to get the list.
You can also find them online on:
- Real estate agency websites
- Social networks
- Online newspapers
- Centris foreclosures
You can also search for repossessions by bank. Here are some examples of frequently used search terms on Google:
La Capitale Foreclosures
RBC Foreclosures
National Bank Foreclosures
BMO Repossessions
TD Foreclosures
Scotiabank Foreclosures
Types of repossessed properties for sale
When looking at bank repossessions, foreclosure sales, foreclosed homes, and finance repossessions, there is a huge variety in the types of properties.
In fact, there are more than just bungalows for sale. Repossessions can occur regardless of the type of property.
- Single family home
- Semi-detached
- Townhouse
- Cottage
- Income Property
No matter what you are looking for, you may be surprised at the variety that is available on the market. We recommend that you have more flexible criteria so that you don’t miss out on any interesting deals or offers.
Foreclosures by Area (Quebec) - Talk to an Industry Broker
Shopping for foreclosures for sale in Quebec is more accessible and easier than ever thanks to our online broker partners.
Fill out the form on this page to find a broker specializing in such properties in your area.
He or she can look for foreclosed properties for sale in your desired area anywhere in the province.
- Houses in repossession Montreal
- Houses in repossession Quebec
- South Shore finance repossession houses
- Ottawa foreclosed houses
- House in foreclosure Lévis
- Foreclosed houses in Saguenay
- Sherbrooke foreclosed properties
This service is totally free with no obligation since it’s the sellers who pay the brokers’ commissions.
Thus, you can only benefit from speaking with our partner brokers regarding bank repossessions for sale. Start comparing available foreclosed homes right here!
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