Looking To Buy A Power Of Sale?
Many buyers and real estate developers looking for a bargain are scanning the newspapers and real estate websites in search of properties under power of sale. Particularly attractive are power of sale in Mississauga. Unlike our neighbors to the south, distressed home owners are not required to sell their home for a fraction of its value if they have defaulted on their mortgage. In fact, power of sale in Canada are always handled through a real estate agent. Banks are obligated to try to get fair market value for the property. This means that you may be able to get a bit of a bargain through a power of sale if the property is older or run down, but the purchasing process may be longer than for a regular home.
