Foreclosure as Sample mentioned are VERY hard to find as who wouldn't buy a house with a lot of equity in it with the market in Alberta being so hot. The bank in the past used to just pass them off but now a days are selling them at market value. Call a foreclosure lawyer (not the correct term) and ask them if they have any leads on pre-forclousure properties as you never know.
Assumable mortgages are rarely a good choice as you usually have to pay more for a home as the reason people are assuming is they can't get approved for a normal home loan, as well the only reason sellers are letting you assume is they are trying to get more than market value.
Your best bet is to get some knowledge on prices and review welist.com or comfree.com or other routes for homes that are being sold by owner that are underpriced as if you look hard you may beable to find a good deal.
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