We bought a bank-owned property in Ontario. If you are not a home-repair expert, it probably behooves you to get the propery inspected so you know exactly what you are getting into. You can get GREAT deals from the bank, but when we bought ours it was AS IS. It did not meet all standards and the bank was under no obligation to tell us what it needed to be up to spec. We bought it and are content with it, but it's definitely not a house for everyone. We have lots of repairs to do, but it's all we could afford at the time and we figured it was better than paying rent.