Four Reasons to Purchase Foreclosures in Regina

First, I want to emphasize the importance of working with a real estate agent who is actively working in their market place when it comes to foreclosures. When it comes to foreclosures in Regina, the Realtor® should have an abundance of knowledge on the structural integrity of home, average prices in specific neighborhoods and be able to quickly calculate the “resale” value of the home if such information is desired.


Foreclosures in Regina can be awesome properties to buy or they can be nightmares with no way out. In this article I’ll explain four good reasons why you could consider purchasing a foreclosure in Regina. 

1. They make good investment properties for someone looking for a flip

Investors are looking for properties that need a facelift. As long as the property doesn’t contain any major structural issues, they can be good homes for investors. Also, investors commonly make “low-ball” offers and take chances by testing what the bank will accept. Sometimes the bank responds loosely, sometimes they respond not at all; either way no one’s feelings are hurt.
 

2. Can be purchased in cash

A good foreclosure in Regina can come up for sale around the 150-175K mark, which is often the financial sweet spot for investors looking to buy properties for cash, put some money into them and put them back on the market.
 

3. Often come up in good neighborhoods

Maybe not as often as you change your socks, but foreclosures in Regina do some up in some of our nicer areas. Nice areas like Walsh Acres, Argyle Park, Harbour Landing, Lakeridge, Coronation Park, Wood Meadows, White City etc.
 

4. Can accommodate quick possessions

If all the circumstances are right, the bank can likely accommodate a possession within two weeks from conditions removal unless otherwise stated.
 

5. Sometimes are priced lower than market value (often reflecting poor interior condition)

I’ve said it before and I’ll say it again, foreclosures in Regina can be priced low enough to make them a good deal but keep in mind that they are often priced to reflect a less than desirable condition.

 

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There you have it, five reasons why a foreclosure in Regina may or may not be something you’re interested in buying. If you have any questions or would like a full list of foreclosed properties in Regina, give me a call at 306-552-7047 or fill out my online contact form!

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