Selling a house when you're behind on payments
A sale can clear the mortgage and property taxes at closing. The sooner we talk, the more choices you have. Tell us about the property and we'll call you within the next business day.
Prefer to talk it through? Call us. 825-462-1777
Thanks. We'll call you within the next business day.
We'll ask a few questions about the house, then come back to you with an offer within 24 to 48 hours of that call. You'll get a text shortly confirming we have your details.
Want to talk sooner? Call 825-462-1777.
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- No commissions or feesYou don't pay us anything to sell.
- No repairs or cleaningWe buy the house as it sits.
- No obligationHear the offer, then decide in your own time.
- You pick the closing dateA few weeks or a few months.
You have more choices than it may feel like
For homeowners in Edmonton, Red Deer and Calgary.
Falling behind happens to careful people: a job change, an illness, a separation, a renewal at a higher rate. It doesn't have to end with the lender deciding what happens to your home.
In Alberta, a lender has to go through the courts to foreclose, and that takes time. Until the court orders otherwise, you can usually still sell the house yourself. When it sells, the mortgage, the arrears and the property taxes are paid at closing through the lawyers, and whatever is left is yours.
Selling isn't the only way forward. Your lender may agree to a payment arrangement, and a non-profit credit counsellor can go through your options with you. Russ will tell you plainly if he thinks one of those would serve you better.
How it works
Three steps, and you can stop at any of them.
Tell us about the house
Fill in the short form or call 825-462-1777. It takes about two minutes.
Get your offer
We call you within the next business day to learn about the property, then come back with a written offer within 24 to 48 hours and walk you through how we reached it.
Close on your date
If the offer works for you, choose the closing date. The sale is completed through Alberta real estate lawyers, the same as any other home sale.
How a sale can help
Clear, private and on a date you choose.
The mortgage is cleared at closing
What you owe the lender, including arrears, is paid from the sale through the lawyers.
A date that fits your deadlines
Tell us the dates you're working with and we'll set the closing to fit, as early as the lawyers can complete the title work.
No repairs and no showings
We buy the house as it sits. You don't spend money getting it ready.
Private
No listing, no sign on the lawn and no open houses.
Where we buy
Edmonton
Our main focus: houses across the city and the communities around it.
Red Deer
Homes in the city and central Alberta.
Calgary
Homes in the city and nearby communities.
Common questions when payments are behind
Can I sell if the lender has already started foreclosure?
Usually, yes. In Alberta foreclosure goes through the courts, and the court normally gives the owner a period of time to catch up or sell. Until the court orders a sale or transfers the house, you can generally still sell it yourself and pay the lender from the proceeds. Timing matters, so ask a lawyer where your file stands.
Will there be anything left for me?
That depends on the price and what's owing. The mortgage, arrears, property taxes and legal costs are paid first, and the rest is yours. Russ walks you through the numbers before you decide.
What if I owe more than the house is worth?
Then a sale to us may not solve it, and Russ will tell you so. Your lender would have to agree to accept less than is owed, and that's a conversation to have with them and with a lawyer.
How fast can this happen?
You pick the closing date. The earliest date depends on how quickly the lawyers can complete the title work, which is usually a matter of weeks.
Should I talk to anyone else first?
It's a good idea. Your lender, a lawyer and a non-profit credit counselling service can each help you see your options. We also encourage you to have your own lawyer review any agreement before you sign.
Is the sale private?
Yes. There is no listing, no sign on the lawn and no public showings.
Will the offer be less than I'd get by listing?
In most cases, yes. A well-presented home listed with a realtor will usually sell for more. What you get from us in exchange is no repairs, no showings, no commissions and a closing date you choose.
Are there commissions or fees?
No. We're not realtors, so there is no commission, and we don't charge fees of any kind. Your offer spells out in writing exactly who pays which closing costs.
Are you the one who actually buys my house?
We sign the purchase agreement with you. From there we either complete the purchase ourselves or assign the agreement to one of our investor partners, who completes it on exactly the same terms. Either way, the price and closing date in your agreement don't change, and this is written into the contract.
Other situations we help with: selling an inherited house, selling during a separation and selling a rental property.
Ready when you are
Tell us about the house, or call and talk it through. There's no cost and no obligation.
825-462-1777