HomeSearch ListingsProfileTestimonialsBuyersSellersWatcherâ„¢Contact
Larry Couture  ABR
Broker

Office: 519-944-5955
Fax: 519-944-3387
Direct: (519)-818-6748



REALTOR R Logo MLS Logo


Bookmark and Share


The unfortunate reality of the economic conditions in the Windsor Real Estate market are such that some properties have gone Power of Sale. Power of Sale is when the present owners can't continue to make the payments on their mortgage and the bank takes over the property to sell it on the open market to try to recoup the outstanding balance on the mortgage. Contrary to foreclosure rules in the USA Canadian finance companies have to still try and get market value for the properties they take Power of Sale in Windsor because the owners are entitled to the equity in the property.

This situation has created many great buying opportunities in the Windsor Real Estate market for buyers, investors and contractors wanting to flip properties. The types of power of sale homes in Windsor vary from small starter homes, rental properties, country homes, city properties, condos, anything you're looking for.

Now is the time to take advantage of these great buying opportunities.


What You Need To Know When Buying A Windsor Power Of Sale Or Bank Foreclosure.

1. Inspect The Property.

Banks give no warranties or make no representations when selling a power of sale property. Properties are sold in "as is" condition. Hire a qualified home inspector to do a complete detailed inspection of the property.

2. Not All Windsor Power Of Sale Properties Are Great Deals.

Make sure you're getting a great deal by doing your research. I can pull up comparable properties that have sold to make sure you're not paying more than market value for any property, especially a power of sale property.

3. Timing

Many great Windsor power of sale deals come and go very fast. Getting to them before everyone else is a big advantage. Take advantage of my automated listing search software to be notified of all the new listings that come to market 3 days before the general public.

4. Get A Mortgage Pre-Approval

If you can make your offer a condition free as possible you'll probably get a better deal from the bank. Also many of these great Windsor power of sale deals end up being multiple offer situations, so making your offer as condition free as possible is going to make your offer more desirable than the others. You can do an online mortgage pre-approval from my partners at the Bank of Montreal or The Royal Bank Of Canada.



If you have any questions about the Windsor Power of Sale Market, don't hesitate to contact me.



 

MCS Login |  Privacy Policy
Terms and Conditions REALTOR®, REALTORS®, and the REALTOR® logo are certification marks that are owned by REALTOR® Canada Inc. and licensed exclusively to The Canadian Real Estate Association (CREA). These certification marks identify real estate professionals who are members of CREA and who must abide by CREA's By-Laws, Rules, and the REALTOR® Code. The MLS® trademark and the MLS® logo are owned by CREA and identify the quality of services provided by real estate professionals who are members of CREA.

The information contained on this site is based in whole or in part on information that is provided by members of The Canadian Real Estate Association, who are responsible for its accuracy. CREA reproduces and distributes this information as a service for its members and assumes no responsibility for its accuracy.

This website is operated by a brokerage or salesperson who is a member of The Canadian Real Estate Association.

The listing content on this website is protected by copyright and other laws, and is intended solely for the private, non-commercial use by individuals. Any other reproduction, distribution or use of the content, in whole or in part, is specifically forbidden. The prohibited uses include commercial use, "screen scraping", "database scraping", and any other activity intended to collect, store, reorganize or manipulate data on the pages produced by or displayed on this website.