Power of Sale: Is It a Hidden Opportunity or a Financial Trap?
Mandeep Dhesi | GTA Real Estate
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Power of Sale: Is It a Hidden Opportunity or a Financial Trap?
5 628 просмотров · 4 нед. назад
Mandeep Dhesi | GTA Real Estate
14,1 тыс. подписчиков
5 628 просмотров · 4 нед. назад
There are currently 174 power of sale properties across the GTA, including 23 in Brampton. In this video, I break down what power of sale really means, how banks determine pricing, why these properties are usually not “fire sales,” and where the current inventory is concentrated across Toronto, York, Durham, Halton, Mississauga and Brampton.
We also look at the risks buyers need to understand before making an offer: properties being sold “as is, where is,” financing problems, hidden repairs, tenant complications, liens, unpaid expenses and the homeowner’s right of redemption before closing.
A property that looks $100,000 cheaper on paper may not actually be a bargain once you compare the final asking price, renovation costs and financing conditions.
If you’re considering a power of sale property in Toronto, Brampton, Mississauga or anywhere in the GTA, understand the numbers and the legal conditions before assuming you’ve found a deal.
If you’re considering a new build or pre-construction home in Ontario or the GTA, this video will help you understand the process and avoid unexpected surprises.
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