A power of sale property is sold by the mortgagee, not the owner, to recover an unpaid mortgage debt. The process is governed by provincial legislation rather than a typical listing agreement, and the sale usually proceeds without the representations, warranties, or property disclosure a standard seller would provide. Buyers should budget for a firm, as-is purchase and complete their own due diligence before submitting an offer.

The bank or lender selling the property does not live there and typically discloses little beyond what is legally required. Offers are usually submitted with limited or no conditions, deposits tend to be larger, and closing timelines are often set by the court or lender rather than negotiated. A pre-approved mortgage and a home inspection arranged before you offer are strongly recommended.

We source and represent power of sale opportunities across the entire Greater Toronto Area, including Toronto, North York, Richmond Hill, Markham, and Vaughan.

As with most real estate transactions, our fees are commission-based and discussed upfront before any engagement begins, so there are no surprises along the way.

Ali Bolourchi has been in real estate since 2002 and full-time since 2005, bringing a data-driven, engineer's approach to pricing and timing, plus direct access to a trusted network of architects, mortgage brokers, and real estate lawyers.