Bank-Owned Houses for Sale

(13 relevant results)
Sort by
House for sale: 35 CANAL BANK ROAD, Port Colborne

40 photos

$534,900

35 Canal Bank Road, Port Colborne (877 - Main Street), Ontario L3K 2M6

2 beds
2 baths
244 days

main st Located in the heart of Port Colborne, this is a well maintained century home (first one built on Canal Bank Rd!) overlooking the canal on a quiet, dead-end street with beautiful canal views from almost every window! While maintaining a timeless aesthetic and old world charm, this home

House for sale: 1413 BLACKHORSE COURT, Ottawa

50 photos

$4,750,000

1413 Blackhorse Court, Ottawa (8005 - Manotick East to Manotick Station), Ontario K4M 0A6

6 beds
6 baths
44 days

Bank St to Mitch Owens Rd, left on Dozois Rd, left on Gough Rd, left on Duchess Cres and right on Blackhorse Court. Magnificent MANSION in Rideau Forest! This stunning FULLY FURNISHED estate (approximately 10,000 sq. ft.) is situated on a 2.45-acre lot in the prestigious Rideau Forest neighborhood.

House for sale: 395413 COUNTY ROAD, Amaranth

8 photos

$1,600,000

395413 County Road, Amaranth (Rural Amaranth), Ontario L0N 1S5

4 beds
3 baths
55 days

County Rd 12/ Hwy 89 This 4-Bedroom Home Is Situated On 92 Expansive Acres, Offering A Fantastic Opportunity For Those Seeking Privacy, Space, And Potential. Located Just 2 Kilometers South Of Highway 89, The Property Provides A Peaceful Rural Setting With Easy Access To Nearby Amenities. The

House for sale: 661 NETLEY CIRCLE, Ottawa

38 photos

$1,039,900

661 Netley Circle, Ottawa (2605 - Blossom Park/Kemp Park/Findlay Creek), Ontario K1T 0A4

4 beds
4 baths
62 days

Take Bank Street south past Leitrim Road to Findlay Creek Drive to Left on Netley Circle. For those looking for the ease of living in a bungalow, but with a LOFT with over 3700 feet of finished living space. Located on a very quiet circle in Findlay Creek, this home sits on a 50' x 128' fenced,

House for sale: 8 Aline Hills Lake, Shuswap Lake

55 photos

$379,000

8 Aline Hills Lake, Shuswap Lake, British Columbia V0E 2V1

4 beds
3 baths
20 days

Beautiful Boat-Access Cottage on Shuswap Lake.Discover the ultimate lakeside retreat with this charming boat-access cottage just minutes from the Narrows and a 20-minute ride from Sicamous. Nestled on the west side of Shuswap Lake, this property enjoys morning sunshine and evening shade, creating

House for sale: 29 KINGSDOWN DRIVE, Toronto

36 photos

$2,390,000

29 Kingsdown Drive, Toronto (Ionview), Ontario M1K 3B9

4 beds
4 baths
62 days

KENNEDY / EGLINTON Amazing Huge Custom Built 2-Storey House. Double car garage. Large Eat-In Kitchen. 4 Bedrooms. 200 Amp Hydro Panel. Located In Toronto Nice Family Neighbourhood. A Four Seasons Solarium Inviting Ample Natural Light Through Large Windows. Truly An Extra Unique Opportunity

House for sale: 92 EASTVILLE AVENUE, Toronto

29 photos

$1,039,000

92 Eastville Avenue, Toronto (Cliffcrest), Ontario M2M 2N9

4 beds
2 baths
13 days

KINGSTON RD / EASTVILLE AVE Welcome to 92 Eastville Ave, Located in the Heart of Cliffcrest, Walking Distance to Bluffer's Park Beach, Yacht Club and Trails, Located South of Kingston Rd. You will love this Cozy Two Bedroom Bungalow W/ Hardwood floors throughout, Walk-out to deck from Main

House for sale: 201 GEORGE STREET E, North Grenville

21 photos

$319,000

201 George Street E, North Grenville (801 - Kemptville), Ontario K0G 1J0

1 beds
1 baths
26 days

From Sanders street follow to George Street East. Turn left and follow to 201. Sign on lawn Cozy little house located in the quaint old town area of downtown Kemptville very close to many amenities within walking distance. To note a few, local grocery store, the library, several Churches and

House for sale: 317 MACEDONIA CRESCENT, Mississauga

40 photos

$1,599,900

317 Macedonia Crescent, Mississauga (Fairview), Ontario L5B 3J7

7 beds
4 baths
67 days

Burnhamthorpe/Confederation Immaculate Detached ((4 Bdrm + 4 W/R)) ((3 Bdrm Finished Bsmt w/ Rental potential $2200)) Year old Engineered Wood Floor Living, Dining, Family & 2nd Level// New Pot lights -out Main + 2nd Level// Neutral Paint thru-out Main + 2nd Level// Spacious Sun-Filled Family

House for sale: 22 KING ST E, Lansdowne Village

19 photos

$299,900

22 King St E, Lansdowne Village (03 - Lansdowne Village), Ontario K0E 1L0

2 beds
1 baths
22 days

Highway 2 East of Gananoque or Exit 659 from 401, head north to Lansdowne to top of hill, turn right Backing onto conservation, this sweet little Village of Lansdowne property features a beautiful backyard with an above ground pool. Open concept kitchen, living and dining room make for easy

House for sale: 114 NODEN CRESCENT, Clarington

38 photos

$1,090,000

114 Noden Crescent, Clarington (Newcastle), Ontario L1B 0L2

4 beds
3 baths
123 days

Pedwell / Highway 2 Beautiful Conner lot With 4 Bedroom House with combined with eat in kitchen. Walkout through Kitchen to Backyard. No Side Walk, park 4 cars parking in driveway! Minutes Away from Great Schools, Parks, Shopping, Restaurants, Bank & community center. hot water tank owned.

House for sale: 1622 Brunt Rd, Nanoose Bay

62 photos

$1,579,000

1622 Brunt Rd, Nanoose Bay, British Columbia V9P 9C7

3 beds
2 baths
18 days

Rare Nanoose Bay Walk-On-Waterfront overlooking Wall Beach! Perched mid-bank with a short path to the beach, enjoy swimming, kayaking, sunrises, wildlife and make lasting memories for generations to come. This lovely home features 3 beds and 2 baths, gorgeous Ocean Views of the Strait of Georgia,

House for sale: 1309 Mackinnon Rd, Pender Island

51 photos

$5,800,000

1309 Mackinnon Rd, Pender Island, British Columbia V0N 2M1

7 beds
3 baths
185 days

Low bank, walk-on beaches on the Gulf Islands are exceedingly rare. Privately owned islands here are arguably rarer. To feature BOTH on one property makes this truly the most unique of offerings. ''Waterlea,'' as it is affectionately known is made up of roughly 3.5 acres of low bank waterfront.

Understanding Bank-Owned Houses

In the real estate market, bank-owned houses present unique opportunities and challenges for potential buyers. These properties, often referred to as REO (Real Estate Owned) properties, are homes that have reverted to the bank's ownership after an unsuccessful foreclosure auction. Understanding the intricacies of purchasing a bank-owned house can be crucial for making informed decisions.

What Are Bank-Owned Houses?

Bank-owned houses are properties that have been foreclosed upon and failed to sell at auction. As a result, the bank takes ownership. These properties are then listed for sale, often at competitive prices, to recover the outstanding mortgage balance. For those interested in exploring available listings, a variety of options can be found in different regions, such as bank-owned properties across various locations.

Advantages of Buying Bank-Owned Houses

One of the primary advantages of purchasing a bank-owned house is the potential for a lower purchase price. Banks are typically motivated to sell these properties quickly to minimize holding costs. This can lead to significant savings for buyers. Additionally, bank-owned properties are usually free of liens and other encumbrances, simplifying the purchasing process.

Challenges in Purchasing Bank-Owned Houses

Despite the potential benefits, buying a bank-owned house can come with its own set of challenges. These properties are often sold "as-is," meaning the bank will not make any repairs before the sale. Buyers should be prepared for potential renovation costs. It's also important to conduct thorough inspections to identify any hidden issues.

Exploring Bank-Owned Properties in Different Regions

For those interested in specific areas, there are numerous bank-owned properties available. For instance, Drummond North Elmsley offers a range of options for potential buyers. Similarly, Waverley West is another region with available listings that might appeal to those looking for a new home.

Steps to Buying a Bank-Owned House

The process of purchasing a bank-owned house involves several key steps. First, potential buyers should secure financing and get pre-approved for a mortgage. This will help streamline the buying process. Next, it's crucial to work with a real estate agent experienced in REO properties. They can provide valuable insights and assist in navigating the complexities of the transaction.

Conducting Due Diligence

Before making an offer, buyers should conduct thorough due diligence. This includes obtaining a comprehensive home inspection to assess the property's condition. Additionally, reviewing the property's history and any available disclosures can provide important information. In regions like North Augusta and Johnstown, understanding local market conditions can also be beneficial.

Making an Offer

When making an offer on a bank-owned house, it's important to be strategic. Banks are often looking for a quick sale, so a competitive offer can be advantageous. However, buyers should also be prepared for potential counteroffers. In some cases, banks may have multiple offers to consider, so being flexible and responsive can make a difference.

Closing the Deal

Once an offer is accepted, the closing process for a bank-owned house is similar to a traditional home purchase. However, buyers should be prepared for potential delays, as banks may have specific procedures and requirements. Working closely with a real estate agent and a closing attorney can help ensure a smooth transaction.

Exploring More Bank-Owned Listings

For those interested in exploring more bank-owned properties, there are several regions with available listings. Kars and Carlsbad Springs offer diverse options for potential buyers. Additionally, Beachburg and Kanata Balcony are areas worth considering for those looking to invest in bank-owned properties.

Final Considerations

Purchasing a bank-owned house can be a rewarding experience, offering the potential for significant savings and investment opportunities. However, it's essential to approach the process with careful consideration and due diligence. By understanding the unique aspects of bank-owned properties and working with experienced professionals, buyers can navigate the market effectively.

For those interested in exploring more options, Centrepointe is another region with available bank-owned listings. Whether you're a first-time homebuyer or an experienced investor, the bank-owned property market offers a range of possibilities to explore.