power of sales: Power of Sale V.S Foreclosures
- 01/17/13 04:11 AM
There are major differences between a house that is being sold as a foreclosure or a house that is being sold as Power of Sale. Banks, Lenders, Trust Companies etc. in Canada choose different legal responsibility rules that they must abide to. One is a Judicial Sale and the other is Power of Sale. Very rarely you will see a Foreclosure in Canada. A Judicial sale involves the supervision of the court and is popular in British Columbia, Alberta, Saskatchewan, Manitoba and Quebec. The Lender must apply to the court in order to get permission physically seize control of the property (0 comments)
At "The Home Team" we are able to receive all the lastest power of sale and bank forclosure listings as they come on the market. The power of sale list is generated based on price and geographical area. The north listings include; Newmarket, Aurora, Keswick, East Gwillimbury, Holland Landing, Bradford, Keswick, Sutton, Georgina, and Stoufville. I can also set it up to receive all of Toronto, East End and West End. We have sold five listings in the past year that were bank foreclosed and all our clients were very happy with the deal they got. It is very easy to set up if you goto (0 comments)