Foreclosures & court ordered sales - What you need to know

In this episode of the Kamloops Real Estate Insider Podcast, Parker Bennett breaks down exactly what foreclosures and court-ordered sales mean in British Columbia. From foreclosure proceedings and Certificates of Pending Litigation (CPLs) to Schedule A clauses and “as is, where is” conditions, Parker walks you through how the process works — and what buyers need to know before stepping into one of these transactions. Drawing from over 20 years of experience as both a former building inspector and a top-producing real estate agent, Parker shares real-life stories — including his own first foreclosure purchase — and explains the serious risks buyers often overlook. From hidden material latent defects to the possibility of last-minute damage before possession, foreclosure purchases can carry significant uncertainty. He also explains the unique court approval process, including how competing buyers can show up on court day and outbid an accepted offer. Finally, Parker explores whether foreclosures are actually on the rise in Kamloops, separating market data from market perception, and offers practical tips for navigating these opportunities strategically. If you've ever wondered whether foreclosures are truly lucrative or simply high-risk, this episode gives you the straight goods — no hype, just experience.