Foreclosure Process in Alberta Part 2

Foreclosure Process in Alberta – As a full-time Canadian real estate investor, we must fully understand the foreclosure process in our own province in order to both advise the owners we are helping and to take advantage of the legal processes and time lines to increase our potential streams of income.

We are continuing the article on the Foreclosure process in Alberta. We are up to the point where the lawyer has sent the defaulting owner a demand letter to which there has been no response.

Foreclosure Process in Alberta

Statement of Claim

The lawyer then issues a statement of claim to the courts. If, at that point, the lawyer does not hear anything, the lawyer searches at the courts to see if there was a statement of defense filed. If not, a notice of default is filed, which is basically saying “this client has defaulted. The mortgage payments were this much, the term was until whenever, the rate of interest was such and such.”

The Order Nisi

The owner will then be summoned to court to appear in front of a judge. At this point, an Order Nisi (order for sale) is filed, and the judge will assign a redemption period based on what the borrower’s chances of paying off this property are.

Foreclosure Process in Alberta Redemption Period

The redemption period is typically six months, which means that the owner gets to live in the property without paying for six months(although the mortgage payments, legal fees and interest are still racking up.

This period and the time leading up to this point is a golden opportunity for an investor to get in there, make a deal to take over that property, pay off the arrears, and be able to make some amazing money. In our real estate training we go into this process in great depth.

Order Nisi

Once the Order Nisi is filed, and the mode of sale is ordered by the courts there is still time to help that owner but we have to become even more creative in our strategies. This is why knowledge, skill and education are key in making lots of money in Canadian Foreclosures.

World Wealth Builders offers an intensive 3 day training on Foreclosures in Canada and highlights your province specifically.

In a future article, we will talk about all the advantages that the investor has to be able to capture equity in a property and be able to make tons of money while helping the person that is in trouble at the same time.Foreclosure Process in AlbertaForeclosure Process in Alberta

Happy investing!

P.S. Take Action now to attend the eye-opening seminar and walk away with confidence, knowledge, and specific “action ideas” that can help you achieve your dreams and leave the rat race behind.

We have been training Canadian Real Estate Investors since 1993

Your success is our Passion!


Database Building – Part 3

If you missed the previous article – Database Building – Part 2

Database Building and training

As a full-time Canadian real estate investor, we need to make the most from our time and learn not to waste time. We need to be doing important work such as creating more deals to increase our massive and passive income. In our training apprenticeships, one of the areas of focus is proper building of database.

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Database Building – Part 2

If you missed the previous article – Database Building – Part 1

As a full-time Canadian real estate investor, we need to be doing business in a manner which drives deals to us on a regular basis. After all, massive and passive income is the name of the game.

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Foreclosure Process in Alberta Part 1

As a full-time Canadian real estate investor, we must create many ways of doing deals and making money. We need to create massive and passive income for ourselves that occur on a regular basis. If you are one of those real estate investors that is relying on one or two real estate agents to bring you deals, then you will indeed starve to death.

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Building our Entourage of Experts – Part 7- Choosing a General Contractor

Building our Entourage of Experts – Part 7- Choosing a General Contractor


If you missed the previous article – Creating your Entourage of Experts – Part 6 – Choosing an Insurance Agent

As a full-time Canadian real estate investor, we may find ourselves involved in deals for the purpose of  both portfolio building, as well as short-term holds for quick money.  We should  involve ourselves in as many “non-conventional” deals as possible, using zero of our own money, and having zero liability in any property.

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