Power of Sale Properties in Durham Region, Ontario

A power of sale property is a home or property being sold by a lender (usually a bank or mortgage company) after the homeowner has defaulted on their mortgage payments. In Ontario, power of sale is governed by the Mortgages Act and allows lenders to sell properties without going through the courts, unlike judicial foreclosure. Power of sale properties in Durham Region often sell below market value, making them excellent investment opportunities for buyers looking for deals in Oshawa, Ajax, Whitby, Pickering, Clarington, and surrounding areas.

In Ontario, power of sale and foreclosure are two different processes. Power of sale allows the lender to sell the property without court involvement after providing proper notice to the homeowner. The lender must sell the property at fair market value and return any excess proceeds to the borrower. Foreclosure, on the other hand, requires a court order and transfers full ownership to the lender. Power of sale is much more common in Ontario and Durham Region because it is faster and less expensive for lenders.

Durham Power of Sales provides exclusive access to power of sale properties throughout Durham Region, including Oshawa, Ajax, Whitby, Pickering, Clarington, Brock, Uxbridge, and Scugog. Our platform lists both active and upcoming power of sale properties with detailed information including price, property type, and MLS® numbers. Sign up for free to get early access to new listings before they become widely available.

To buy a power of sale property in Durham Region: 1) Browse our listings to find properties that match your criteria. 2) Get pre-approved for a mortgage. 3) Work with a qualified real estate agent familiar with power of sale transactions. 4) Conduct due diligence including property inspections. 5) Submit your offer through your agent. 6) Be prepared for a quick closing, as power of sale transactions often have shorter timelines. Contact Tony Slavin at 905-767-0101 for expert guidance.

Power of sale properties can be excellent investments in Durham Region as they are often priced below market value, providing immediate equity for buyers. Durham Region has experienced consistent property value growth, making power of sale purchases particularly attractive. However, it's important to conduct thorough due diligence, including property inspections, title searches, and understanding any outstanding liens. Durham Power of Sales provides verified listings to help you make informed investment decisions.

Power of sale properties are available across all municipalities in Durham Region. Current availability includes: Oshawa (116 listings), Clarington (73 listings), Ajax (55 listings), Whitby (50 listings), Pickering (42 listings), Brock (17 listings), Uxbridge (8 listings), Scugog (5 listings), Kawartha Lakes (1 listings), Trent Hills (1 listings). Durham Power of Sales monitors all cities in Durham Region and updates listings daily.

Power of sale properties in Durham Region can sell very quickly, often within days of being listed, especially those priced competitively below market value. Because of the high demand for affordable real estate in Durham, it's crucial to act fast. Sign up for Durham Power of Sales to receive early notifications and gain a competitive advantage over other buyers.

Yes, you can obtain a mortgage to purchase a power of sale property in Ontario. Most major banks and mortgage lenders will finance power of sale purchases. However, some lenders may have specific requirements, such as a higher down payment or a shorter closing period. Getting pre-approved before viewing power of sale listings is highly recommended. Contact Tony Slavin at 905-767-0101 for trusted mortgage referrals in Durham Region.