OTTAWA HOUSE REPOSSESSIONS
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​Foreclosure vs Power Of Sale.


I want to talk a little bit about the difference between foreclosed homes and power of sale actions. A bank has several options. They can foreclose your house. This is where they take the title to your house. You will then have no rights whatsoever. Once they have your property they can sell it for whatever they want even if its 20 cents on the dollar. This is very uncommon in the Ottawa area as it can take up to a year to get though everything in the courts.

Banks would prefer to go through the power of sale provision in your mortgage which allows them to take possession of your home and evict you. They however cannot take your equity. They do have to put it up for sale at fair market value and return any money to you after they pay off any mortgage that you owe. Banks have to be very careful when they do these properties. They have to get several independent appraisals and make sre the property is listed properly through a realtor and is marketed to the full extent to get the maximum price they can otherwise they can end up in court with the previous owner. This means they will not be as low as the foreclosure prices that you see in the States but they are sold competitively and must be sold.

​They are often not sold in the best of shape but sold as-is where-is. Sometimes the lower prices you see simply reflect the condition that they are in.

​ALTERNATIVES TO REPOSSESSED HOMES
CAN YOU BUY A REPOSSESSED PROPERTY BEFORE IT IS ENTERED INTO MLS
CASH ONLY SALES
COSTS ASSOCIATED WITH A REPOSSESSED PROPERTY
​FORECLOSURE VS POWER OF SALE
FORECLOSURE SALES
GROW OP
​HOW DO YOU BUY A REPOSSESSED PROPERTY
HOW TO FIND A POWER OF SALE
HOW TO PURCHASE A POWER OF SALE REPOSSESSION
POWER OF SALE PREVIOUS OWNER WORRIES
PURCHASING A REPOSSESSED PROPERTY AS AN INVESTMENT
REPOSSESSED PROPERTIES OUTSIDE OTTAWA
WHAT IS A SCHEDULE A
STIGMATIZED PROPERTIES
TAX SALES
OTTAWA HOUSE REPOSSESSIONS REPORT
WHY REPOSSESSED HOUSES ARE NOT USUALLY FOUND IN THE OTTAWA GREENBELT
WHAT IS A BUYERS REPRESENTATIVE
WHERE THE OTTAWA HOUSE REPOSSESSIONS ARE
Guidestar Realty Corporation, your source 
in the Ottawa Region for bank-owned sales
Guidestar Realty Corporation, Brokerage
215-1400 Clyde Avenue, Ottawa
ON K2G 3J2 Canada
(613) 226-3018  x-223
ottawarepos@gmail.com
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