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Ishtiaq Ahmed 2855 Markham Rd
Suite 300
Toronto, ON M1X0C3 Cell: 416-999-6975
Work Phone: 416-298-8383
Email Ishtiaq

Power of Sale Properties

Power of Sale Homes Listings

Power of Sale homes

What is Power of Sale?  “Power of sale” is when the homeowner defaults on the mortgage payments. The bank then sells the property in order to cover the amount still owing on the mortgage. The Lenders often has a built-in clause in the lending Agreement which gives them the Power to Sell the property in case of mortgage default.

When a home is being sold by power of sale it means the mortgage lender, not the homeowner, is selling the property. It's a remedy available to a lender when the homeowner defaults on their mortgage

How to find Power of Sale properties? Subscribe now to get Power Of Sale homes Listings notification when any Power of Sale property appears in your desired neighbourhood.