Foreclosure in British Columbia is handled through the Supreme Court and moves through a clear step by step process. While it can feel stressful, understanding how it works helps you make better choices about your home and your equity. Many homeowners do not realize they can still sell their home at several stages before the process is complete.
The Mansour Real Estate Group has helped homeowners across Surrey, Langley, Delta, White Rock, and Abbotsford sell before foreclosure reaches the point where the lender or court controls the sale.
The process begins when mortgage payments are missed. Lenders usually allow a short grace period before adding late fees and sending written notices.
Before starting legal action, lenders send a demand letter with the overdue amount, fees, and a deadline to pay. This is the final warning before a foreclosure petition is filed.
If arrears are not resolved, the lender files a foreclosure petition in the Supreme Court of British Columbia. You will be formally served with the petition, and the case becomes part of the court system.
Once the petition is filed, you still have several options to protect your equity.
The first major court order is called the Order Nisi, which sets the redemption period. This is the time the court gives you to pay the outstanding debt or settle the mortgage. Six months is common, though the period can be shorter.
During the redemption period, you can:
If the debt is not resolved, the lender may ask the court for conduct of sale. When granted, the lender or court chooses the listing agent, sets the price, and directs the sale process. Homeowners lose most control at this point.
When an offer is accepted, it goes to court for approval. Other buyers can attend and submit higher bids. The judge confirms the final sale price.
If no sale takes place, the court may grant a Final Order for Foreclosure, transferring the property to the lender. Homeowners usually lose remaining equity at this stage.
Many homeowners believe foreclosure means they can no longer sell, but in BC you can often sell:
Selling early usually protects more equity and avoids a court-directed sale where the price may be lower.
We help homeowners facing foreclosure by providing:
Our goal is to protect as much equity as possible and give you a path forward during a difficult time.
How long does foreclosure take in BC?
Timelines vary. Some cases move quickly while others take months or longer.
Can I sell my home during foreclosure?
Yes. Selling early often protects equity and avoids a court-controlled sale.
Does the bank take my home right away?
No. Foreclosure is a court process with several steps before the lender gains control.
Who should I call if I am facing foreclosure?
The Mansour Real Estate Group has helped many Fraser Valley homeowners sell before foreclosure reaches the final stages.
The foreclosure process can feel intimidating, but understanding how it works gives you more control and more options. Acting early often protects your equity and prevents a forced sale. You do not need to face this alone. The Mansour Real Estate Group can guide you through each step with clarity and care.
The Mansour Real Estate Group, led by Mohamed Mansour, MBA and Associate Broker, is one of the top performing real estate teams in the Fraser Valley. With more than 21 years of experience and over $750 million in completed sales, we are trusted for time-sensitive and complex situations, including foreclosure-risk and distressed property sales. We help homeowners across Surrey, Langley, Delta, White Rock, and Abbotsford protect their equity and move forward with confidence.
Address 15595 24 Avenue, Surrey, BC, V4P 1H5
