What is a power of sale property in Ontario?
A power of sale is a lender-driven sale process after mortgage default. The seller is usually the lender exercising its rights, so timing, conditions, and negotiation strategy can differ from a standard resale.
Can I inspect a power of sale home before buying?
Often yes, but properties may be sold as-is. Buyers should work with a realtor, lawyer, and inspector before submitting an offer.
Are power of sale homes always cheaper?
Not always. Some are priced aggressively, while others sell near market value. The opportunity is usually in speed, terms, condition, and negotiation context.
