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Ivor Mendes | Broker of Record

(416) 520-5621         

Power of Sale homes

Tuesday Oct 11th, 2016

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Buyers often ask me about homes being sold under Power of Sale as they think they will get the house cheaper. Let us first analyze what a Power of Sale is. It usually indicates that the owner could not make their mortgage payments and the lender (the bank) is selling the property to recover the mortgage amount owing. If you are considering making an offer on one of these homes, here are some things you need to know:  1.    The process that most lenders will follow in... [read more]

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