Hey, do you wonder where all the deals are? Well, have you heard of power of sales, foreclosures, distress, properties, company, own, and even estate sales. So these represent great deals. If you're shopping for a home here in Mississauga or the surrounding GTA. So we're gonna talk about that in this video and we're going after it right now.


Hey, what's up everybody. This is Sol here from the GTA elite real estate team right here in Mississauga, Ontario. And if this is your first time tour channel, we do a lot of videos about everything that you need to know about eating, sleeping, playing in all the different neighborhoods right here in Mississauga, as well as the surrounding GTA. So if this is your first time here, make sure you subscribe to our channel, tap that little bell. So you're notified every single time we do a brand new video and we're getting lots and lots of messages, phone calls, and texts, and we absolutely love it. So if you're in the market to make a move out to Mississauga, just reach out to us by texting the number right here below or visiting our website at findgtalistings.com. And when it comes to Mississauga living, we got your back.


So let's get right to the video. So today's topic is gonna be about power of sales and, and where you can, you find these power of sale deals and what is the power of sale in the first place. And, we're gonna talk about all that. So power sales are basically when a bank takes over the property from a homeowner because they have defaulted. For example, they have stopped paying their mortgage payments, and the bank takes it over. They tend to, go ahead and sell it on the market. And whatever's left over of the proceeds will help pay for the mortgage balance, real estate, lawyer fees. And whatever's left over if there's any will be given back to the homeowner. So this is called a power of sale, which is very common in Ontario compared to other provinces, which they use a procedure called foreclosure.


So this is way faster for the banks to get their money. So it's definitely a thing that you need to know if you're looking at buying a place in Mississauga and you want the best deal, you possibly could get some by looking at power of sales. So why do people end up defaulting? There could be many factors. There could be that they lost their job. They have been in a divorce situation, its a distress or situation, distress property. Maybe they have become disabled. So, there's many factors - so in this market, you know, power sales really don't come up often, but I'm gonna show you an example of a few that are available in the market and our team. And I, we specialize in finding buyers, investors, great deals. So we look at power sales. We look at, homes that have been on the market for very long time, like vacant homes.

They tend to provide a very good deal as well as, distress properties and also estate sales. So estate sales are also a great way to find good deals. And in this video we're gonna show you how we can find your power sales as well as all the other types that will represent possibly a good deal for our buyers and investors. So this is one of the reasons why you should contact us if you're looking for, a good deal in this market, especially right now, things are a little slower and there's possibly more power sales coming up, you know, with the bank, increasing the interest rates. And there's gonna be another few more increase as coming up. So people that have bought in the highs, which was between January 2022 till about, March, it was when the thing was when the real estate market was at its peak. So a lot of people, you know, they bought it at a very high price. So if they can't close, or if sellers sold to buyers and those buyers can't close, those sellers are in trouble. So, definitely this is something to be aware of. And I'm gonna show you on our computer right now on how to look for power sales and what they actually look like. So let's go right to my computer.


All right. So let's look at my screen right now. And I've got a couple of safe searches for our buyers that, are looking for either handyman specials, power of sales, vacant homes. We've got the,whole list of estates, estate properties, um, sorry, estate sales company owned homes, homes that are owned by businesses and companies, vacant homes. Here's a cool one vacant homes over 30 days. So a lot of these homes are, are on the market for, for over 30 days and they haven't sold so they could represent a good deal, but let's just check out, power sales in the peel region. So that's Mississauga Bramton and Caledon. Let's see how many listings are live as of today. We're on end of May here. We're looking at, eight possible listings here. So let's go with for example, Carlton Crescent.


So when somebody calls us and they want to get list of the hot deals like foreclosures and power of sales, we have a top list of power of sales and, we send out some examples like this, here's a house that, you know, from the picture, there's no photos of it. So that's one, red flag for us. Why is there no photos? Price is pretty sharp 69,000 for detached home. Usually power sales are vacant like this one here. They have some issues, like for example, here in the notes as to calling all of the contractors renovators builders, the home is being sold as is where is that's an indicator that, you know, the bank is selling it or, or it's a power of sale, or distress. And there's no access inside the property due to health and safety concerns.


So this is something enough for everybody. This is for someone that has some experience renovating homes or, wants to, go in there and just like the worse it is, the better for them, you know, like they wanna rip everything apart and start from scratch. But yeah, this one is one example. It's being sold again by TD bank right here at the, the name of the bank. Here's another one, a power of sale. Here's an estate sale estate sales are typically sold by the family or the executor, of the property. And you know, the family just wants to get rid of it. They, they don't wanna hold onto it for too long because most of the time it's vacant. Like for example, it says here vacant home. They want to just, cash it out, sell it, um, see if there's any other good ones.


Here's one, being sold under power of sale for 3.8 million from the photos, original photos look, the, front photo looks pretty good. But then when you look deeper, it's fenced off, looks like it's, the floors are not done. It's not finished so they could have ran outta money. They, didn't have the expertise to finish this deal or this home. I mean, so there's some things that we need to do some more due diligence on. Like, this is a red flag - I would check with the city and check with, title, make sure there's no builders liens or any, anything that could stop, the potential buyer from proceeding if they bought this. So this one is a bit of a scary one to purchase, especially at, at that price of 3.8 million. So we need to see if, unless you get it for a really good price, which is what we are experts at is we try to get you, a fair deal when we're working with the buyers so that it's, you know, advantage on your end.


So, another safe search that I wanna show you folks is we have, you know, like if we work all over the GTA as well, so here's all the power of sales estate, sales company owned listings, all across the GTA, the grid Toronto region - so there's 200 results. So there's quite a few properties here, on the market. So, you know, like for example, here 322 Woodbine, this one is being sold by an estate, you know, like this one. Like this one needs a lot of work renovation, but for some, for the right buyer, you know what they could go in there and renovate this home and build instant equity, we call a sweat equity, for 830 - 9,000, you get a semi detached by the beaches there in Toronto. I would definitely reach out to our team, if you wanted to get a list of our top 10, power of sales that we can give you access to, we do have that list pretty much on a weekly basis. It turns over, you know, we get new listings coming up. So, yeah, there's, there's quite a bit, a bit of power of sales here. All


Right, welcome back. So I hope you like that video, shared about actually what's behind the scenes and how we find these power of sale properties. So again, reach out to our team and I, we actually love finding good deals for our buyers. And if you're in the market, you're a handyman, you're a contractor, or you just wanna have some sweat equity and start with something cheap and just build it out. You wanna do the home HGT style, flip reach out to our team. And I, we have that hot list that we can share with you. All you gotta do is just text us, phone us, or email us at the number right here below or visiting our website at findgtalistings.com. Thank you for watching this video. And don't forget to hit the subscribe button, let us know, leave a comment below what you thought about this video. If you like it, if you wanna see more of this stuff, reach out to our team and I, Joanna and I are definitely available anytime, to handle your requests. So thank you for watching and we'll see you on the next one.