As we enter 2012, we are seeing alot more homes being sold by the bank.
Homes that have been repossessed by the lender because the owners failed to pay the mortgage are foreclosures, or power of sales. Thousands of homes end up in foreclosure every year. Many people lose their homes due to job loss, credit problems or unexpected expenses.
It is wise to be cautious when considering a foreclosure. It is important to have the house thoroughly inspected and to be sure that any liens, undisclosed mortgages or court judgments are cleared or at least disclosed.
When you are ready to make an investment into a foreclosure property, I can put my expert knowledge to work for you.
Muskoka has seen an increase in Power of Sale homes over the last few years. These Muskoka real estate listings are generally sought after by investors who wish to fix up and flip (resell) quickly, or first time home buyers who are prepared to buy a Muskoka property that needs a little tlc.
There are various elements to consider when looking for a Power of Sale home in Muskoka, so it is wise to have a detailed conversation with your Muskoka Real Estate Agent.
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