Pros and Cons of Purchasing a Bank Owned Property in Saskatchewan
Posted by Kent Braaten on
There are pros and cons to purchasing a bank owned property in Saskatchewan. It can be hard to decide if this is the right option for you. On the one hand, buying a bank owned property can be a great way to get a good deal on a home. However, there are some risks involved that you need to be aware of. Let's take a closer look at both sides of the issue!
Pro: Lenders are eager to recuperate their loss and will want to sell the property quickly
The properties are often vacant and can accommodate a quicker possession date.
Con: There is often little or no negotiating room
When it comes to the purchase price of foreclosed properties, the lender will want to sell the property for as much as possible in order to recoup their losses. Especially…
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