Summary
This page brings together South Surrey and White Rock foreclosures and court ordered sales from the MLS in one place. In B.C., a foreclosure isn't a quick bank auction. It runs through the Supreme Court of British Columbia, and a judge approves the final sale. That means the steps, the paperwork and the timing work differently from a regular purchase. Here's a plain guide to how it works, so you know what to expect before you make an offer.
How a court ordered sale works in B.C.
It starts with a petition
When a borrower falls behind, the lender can ask for all the mortgage money under the standard mortgage terms set under the Land Title Act. It can then go to court. Under the Supreme Court Civil Rules (Rule 21-7), a foreclosure has to be started by petition. Everyone whose interest in the property could be cut off is named in it. The petition is served with the court's information notice for foreclosures, Form 125.
The order nisi and the redemption period
The court can make an order, called an order nisi, giving the owner a set time to pay what's owed. That time is the redemption period. The Rules don't set a fixed length for it. The court decides it in each case. If the owner doesn't pay by the end of it, the lender can ask for a final order of foreclosure.
Conduct of sale
Most of the time the property is sold rather than simply handed to the lender. The court can give one party, usually the lender, "conduct of sale". That party lists the property, often on the MLS, and deals with offers. The court can set how the sale happens, set a minimum price, and set the rules for bids and offers (Rule 13-5).
Your offer is subject to court approval
When you buy a court ordered sale, your accepted offer is conditional on the court approving it. The party with conduct of sale applies to the court for an order that confirms the sale and vests title in you. That can happen even before the redemption period is over (Rule 21-7).
Other buyers can still bid
This is the part that surprises most people. Under the Supreme Court's Practice Direction 66, other buyers can bring sealed bids to the approval hearing. Sealed bids, with a copy of the proof of deposit, have to be collected in the courtroom by 9:45 a.m. on the day of the hearing. The judge decides how to deal with them, and can consider late bids. Approval hearings are generally held in person. So even with an accepted offer, you could be outbid in court. I'll help you plan for that.
Where the case is heard
A foreclosure is filed at the Supreme Court registry in the municipality where the land is, if there is one there. If not, it's filed at a registry in the judicial district. Applications are heard at that registry (Law and Equity Act, s. 21).
Looking up the court file
Court Services Online is B.C.'s electronic court registry. Anyone can search it. Supreme Court civil files show the file number, registry, party names and the list of filed documents. Foreclosures are their own file class. It's a good way to see where a file is at.
What this means when you're buying
With a court ordered sale, the seller is the party with conduct of sale, not someone who has lived in the home. So I always plan for your own inspection and your own checks on title, strata documents and property details before the hearing. Your deposit and financing need to be ready for the court's timing. For how prices are moving in the wider market, see Fraser Valley Market Stats. The listings above update from the MLS. If one catches your eye, I'll walk you through the court steps, get the file details and help you get your offer ready for the approval hearing. For court ordered sales across the region, see my Fraser Valley foreclosures page. A court ordered sale can be any kind of home, so you may also want to browse my South Surrey condos under $800K and South Surrey mobile homes pages.
FAQs
Is a court ordered sale the same as a foreclosure?
In B.C., they're closely linked. The foreclosure is the court process, and a court ordered sale is how the property usually gets sold during it.
How long is the redemption period?
There isn't a fixed length. The court sets it in each case.
Can I buy before the redemption period ends?
Yes. The party with conduct of sale can ask the court to approve a sale before the redemption period is over.
Can someone else outbid me after my offer is accepted?
Yes. Other buyers can bring sealed bids to the approval hearing, and the judge decides which offer to approve.
When are sealed bids due?
Practice Direction 66 says sealed bids must be collected in the courtroom by 9:45 a.m. on the day of the hearing.
Who sets the minimum price?
The court can set a reserve or minimum price when it gives directions for the sale.
How can I check the court file?
Search the file on Court Services Online, B.C.'s electronic court registry.
Nearby areas & related pages
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The data relating to real estate on this website comes in part from the MLS® Reciprocity program of either the Greater Vancouver REALTORS® (GVR), the Fraser Valley Real Estate Board (FVREB) or the Chilliwack and District Real Estate Board (CADREB). Real estate listings held by participating real estate firms are marked with the MLS® logo and detailed information about the listing includes the name of the listing agent. This representation is based in whole or part on data generated by either the GVR, the FVREB or the CADREB which assumes no responsibility for its accuracy. The materials contained on this page may not be reproduced without the express written consent of either the GVR, the FVREB or the CADREB.