05/03/2024
POWER OF SALE ALERT 🚨🔔‼️
As a Real Estate Investor I love a good Power of Sale 🙌
This fully Detached 2-Storey Home is for Sale by the Bank at only $950,000!!!
-Fully Detached
-3 Bedrooms
-2 Baths
-Detached 2-Car Garage
Now what’s the difference between Power of Sale and Foreclosures?
In a Power of Sale the lender forces a sale on the public market once the Home owner defaults on their monthly payments for a long period of time . They get all funds owed to them, while the current owner keeps any excess profit.
In a Foreclosure, the lender takes ownership and also keeps all profits from the sale. Power of sales are more of a Canadian thing and foreclosures are more of a US thing 🏠🏡