dozzzzy

Hi,

I have been rooting around using google trying to find auction houses that deal in houses and cars, is there such a thing in Canada or are they just not a popular way of buying? Do the authorities flog off confiscated property from criminals? I am specially interested in BC as that is now my preferred destination

Thanks

Dozzzzy

Applied Skilled Worker (London)
Application submitted - 05th July 2004
AOR Dated - 21st July 2004 (18 Months)
Delay Letter - Arrived Jan 2006 (Delayed till June 2006)
Medical Request - 26 May 2006 (NO Interview or Updated Docs Required)
Medical Taken - 28th May 2006
Medical Received - 4 July 2006
Info Request - 17 July - Update Available Funds
PPR - 14 Aug 2006 !!!!!

iaink

Seems a lot of the car auctions are trade only. Check the local papers for detials on estate auctions, they seem a common way of converting worldly goods to cash for the inheritors here. There are a few consignment auctioneers around too, but you are right, it doesnt seem as common as in the UK.

PMM

HI

There is a car auction in Surrey weekly, http://www.auctionvancouver.com/inde...location_hours
House auctions are few and far between. (usually desperation)

H143

I'm going to be looking for car auctions when I get to Van in September so I will try to remember to let you know what I find out. PM me if you like and I'll give you my email address.

sysclp

I have seen the occasional house being auctioned off for back taxes advertised in the paper, but not often. I think they rarely get to that point without somewhere else buying up the debt and selling privately.

Butch Cassidy

I've only heard of one house auction in calgary, and the house didnt even make the expected price!! So I dont think we'll be seeing many more.

Steve_P

Was that the builder in Varsity.

What an idiot.

Rete

Having had experience in car auctions here in the US, I would advise you to stay away. The cars are either repossessed, confiscated from drug dealers, or the dealer has covered up the bad points until the car is sold and paid for and then falls apart off the lot.

As for homes, never heard of auctions for homes. There are places that sell homes that are about to be repossessed by the financial institutions for non-payment of mortgages or municipal governments selling for non-payment of taxes.

Frank'n Sense

Actually the real estate company that Sue and I work for, Macdonald Realty, have an auction side to it. It hasn't taken off to the degree that the company would like. It is not aimed at the foreclosure, desperate to sell market - rather at the way to get the best price from the market.

You can see the sold at auction listings here:
http://www.macauction.ca/past.html

Court ordered sales do happen but are governed by rules that mean the judge has the final say on what the home will be sold for. If you were looking at such a sale you would need to have done your home inspection and arranged financing prior to making the offer as the offer would have no subjects (pre-conditions). If the judge awards the home to you it is a firm and binding deal from that point. There is the chance that another, and better, may be presented in the court room - so go along with your realtor and be prepared to up your offer if you want.

Sorry for the long explanation... have to let all that training material out from time to time

Short answer - auctions are probably not the place to find a bargain - at least as long as it is a seller's market.

Warmly,

Frank

dozzzzy

Thanks all for your help, I'll have to keep on looking at MLS and the lease takeover sites. If I can ever get my head around the whole lease calculation thing.

Cheers all.

Dozzzzy

Applied Skilled Worker (London)
Application submitted - 05th July 2004
AOR Dated - 21st July 2004 (18 Months)
Delay Letter - Arrived Jan 2006 (Delayed till June 2006)
Medical Request - 26 May 2006 (NO Interview or Updated Docs Required)
Medical Taken - 28th May 2006
Medical Received - 4 July 2006
Info Request - 17 July - Update Available Funds
PPR - 14 Aug 2006 !!!!!

charlie1

Try www.adesa.com they have two auto auctions in BC, they mainly are trade auctions but in NS they hold a public auction once every month, they don't list these until the week before the auction, so give them a call and they'll fill you in

Sean Boxer

My friend down the road got his house through an auction, I stopped him just before he told me how little he bought it for as I think it would cause me too much pain - I think he got a good deal though. Having said that, the range of available properties is pretty limited and you'd be incredibly lucky to find something that's right for you.

H143

What about rental companies, e.g. Budget, selling off their old rental fleet? Do they do that via auction or have their own sales?

H143

Answered my own question! - http://www.budgetcarsales.ca/default.htm