Power Of Sale
A Power of Sale is the most common mortgage remedy used by mortgagees of land in Ontario. When a borrower fails to uphold the terms of the mortgage, a Power of Sale can be used to recover the lender’s principal, interest and expenses. The lender must follow a strict process in order to follow through with the eviction of the mortgagor and the eventual sale of the property.
Unlock Opportunities with Power of Sale Listings
Are you looking for undervalued properties with great investment potential? Or are you a financial institution seeking an experienced real estate professional to handle Power of Sale properties? Look no further. I specialize in providing comprehensive services for Power of Sale transactions, ensuring every property is handled with precision and care.
Why Sign Up for Power of Sale Listings?
Power of Sale properties can offer excellent opportunities for buyers and investors to purchase homes below market value. By signing up for my Power of Sale alerts, you’ll receive:
- Immediate access to the latest listings.
- Customized property matches based on your preferences.
- Exclusive insights into undervalued properties across the Greater Toronto Area.
Sign Up
Partner With Me for End-to-End Power of Sale Services
As a trusted real estate professional, I provide end-to-end solutions for Power of Sale properties. From clean-up and repairs to professional marketing and legal compliance, I ensure every property is positioned to achieve the highest possible value. Let’s work together to meet your goals, whether you’re a buyer, investor, or financial institution.
Contact me today to learn more about how I can help.
Why Work With Me?
For Buyers and Investors:
- Access exclusive Power of Sale listings in the Greater Toronto Area before they hit the market.
- Maximize your investment opportunities with my expert guidance and market insights.
- Enjoy a seamless process from search to closing, supported by my network of mortgage brokers, inspectors, and legal professionals.
For Banks and Lenders:
Full-service support to list and sell Power of Sale properties, including:
- Property clean-up and repairs to enhance marketability.
- High-quality photography and staging to attract top offers.
- Professional marketing strategies to maximize sale value.
Compliance with legal requirements throughout the Power of Sale process.
Transparent communication and efficient management of each transaction.
What Is a Power of Sale?
A Power of Sale is the most common mortgage remedy in Ontario, allowing lenders to recover outstanding debts when borrowers default on their mortgage terms. The process includes a strict timeline to ensure compliance with the law and a fair resolution for all parties.
The Power of Sale Process in Ontario
Default on the Mortgage: The borrower fails to meet mortgage obligations, such as missed payments or breach of terms (e.g., unpaid taxes or property damage).
Notice of Sale: The lender issues a Notice of Sale, giving the borrower time to pay off the debt or resolve the default.
Redemption Period: The borrower has a set timeframe to bring the mortgage up to date or pay the full balance, including legal fees.
Court Possession: If the debt remains unpaid, the lender applies for possession of the property through legal channels.
Eviction and Sale: Once possession is granted, the lender evicts the occupants and lists the property for sale, typically through a licensed real estate agent.
Proceeds Distribution: Sale proceeds are allocated to cover legal and sale expenses, outstanding debts, and any remaining funds returned to the borrower or subsequent creditors.
EXCLUSIVE SERVICES
Benefit from the full potential of our online services, free of charge, and with no obligation.
Trends And Insights
Register and gain access to 60% more listings and instant updates when you search MLS Listings.
Free Home Evaluation
Find out how much your home is worth, and recieve a complimentary Home Evaluation Report.
Latest Listings Alert
Get notified as soon as new properties are listed in your desired area, before they are available to the public.
TESTIMONIALS
See What Our Clients Say
