Mississauga Real Estate Blog » homes for Sale In Mississauga

Power of Sale Property – Good Deal or No Deal

gailreeves — Tue, 08 Jun 2010 18:23:34 +0000

I get asked quite a bit about power of sale properties and whether or not there are any good real estate deals out there. The answer is most power of sales are not the best deal out there. We are bombarded with foreclosures and short sales messages from the US market, and I explain to my clients that the process here in Canada is quite different when one defaults on their mortgage. Let me share with you a real life example of what happened on a power of sale condominium unit here is Mississauga.

1) Tammy bought a condominium unit which included one parking spot and one owned locker unit.
2) Tammy refinanced the property two years later and used a different lawyer to register the title. This lawyer neglected to include the one parking spot and locker when the property was refinanced.
3) Tammy defaults on her mortgage payments and the property now becomes a power of sale property.
4) The new owner i.e. the bank, hires a Mississauga Real Estate Agent who lists the property for sale. The listing indicated there was one parking and one locker included as part of the sale.
5) A buyer puts in an offer for the unit, and included the parking spot and the locker. The bank does not provide warranty on power of sale properties so it’s buyer beware. Property is sold “as is, where is”
6) The bank crosses out the parking spot and the locker as this was not on the title. The Buyer accepts the offer with all the changes.
7) Upon closing, the buyer’s lawyer asks about the parking and locker as this is included on the status certificate and declaration documents provided by the condominium. This is when it was discovered that the parking and locker is not included in the sale as the bank does not have title to these elements and hence cannot transfer these over to the new buyers.

When it comes to a power of sale property, buyer beware!!! Use a competent Real Estate Agent who can represent your interest in these matters.

Want a free 31-page report on the 2009 Mississauga housing market? Click here to subscribe to my Mississauga real estate monthly newsletter and get your free report instantly!

Power of Sale Property – Good Deal or No Deal

Homes for Sale in Meadowvale – April 9th, 2010

gailreeves — Fri, 09 Apr 2010 21:45:41 +0000

We have a few more semi-detached homes in the Lisgar area of Mississauga, so buyers have more choices this week than before. We are seeing a slight shift in the market from the very strong seller’s market we experienced in March. This is good news for buyers as inventory rises, we will start to see a downward shift in prices and less multiple offers. Smart buyers, call me today at 905-812-8123 to arrange a tour of these homes. Have an awesome weekend and stay warm.

Keller Williams Real Estate Associates.
BUS 905-812-8123
FAX 905-812-8155 DIRECT 905-785-7282
E-MAIL : mailto:gail@gailsellshouses.com?subject=Mississauga
Website : www.gailsellshouses.com

Thinking of selling your home in the next 3 to 6 months? Would you like a Complimentary & Over-The-Internet Home Evaluation

Want a free 31-page report on the 2009 Mississauga housing market? Click here to subscribe to my Mississauga real estate monthly newsletter and get your free report instantly!

Homes for Sale in Meadowvale – April 9th, 2010

Homes for Sale in Churchill Meadows – April 9th, 2010

gailreeves — Fri, 09 Apr 2010 21:31:36 +0000

We have a few townhomes and some large detached homes for sale in Churchill Meadows. My personal favourite is the one on Quiet Creek Drive, a gorgeous home for the discriminating buyer. The weather should be a bit warmer than today so this weekend is a perfect time to view these properties, so give me call today at 905-812-8123 and let’s go shopping!!!

Keller Williams Real Estate Associates.
BUS 905-812-8123
FAX 905-812-8155 DIRECT 905-785-7282
E-MAIL : mailto:gail@gailsellshouses.com?subject=Mississauga
Website : www.gailsellshouses.com

Thinking of selling your home in the next 3 to 6 months? Would you like a Complimentary & Over-The-Internet Home Evaluation

Semi Detached and Detached Homes for Sale in Lisgar and Meadowvale- April 8, 2010

gailreeves — Fri, 09 Apr 2010 03:15:41 +0000

Over the last few days, we have seen more semi-detached homes for sale in Lisgar area of Mississauga. Let’s have a look at today’s choices.

Keller Williams Real Estate Associates.
BUS 905-812-8123
FAX 905-812-8155 DIRECT 905-785-7282
E-MAIL : mailto:gail@gailsellshouses.com?subject=Mississauga
Website : www.gailsellshouses.com

Thinking of selling your home in the next 3 to 6 months? Would you like a Complimentary & Over-The-Internet Home Evaluation

Want a free 31-page report on the 2009 Mississauga housing market? Click here to subscribe to my Mississauga real estate monthly newsletter and get your free report instantly!

Semi Detached and Detached Homes for Sale in Lisgar and Meadowvale- April 8, 2010

Meadowvale Homes for Sale – April 6,2010

gailreeves — Wed, 07 Apr 2010 01:21:41 +0000

The fabulous weather in Mississauga has brought out more available homes for sale in Meadowvale and Lisgar area. We have a quite a selection of semi-detached homes for sale in this episode so if you are in the market for a semi-deatched home in Meadowvale, please give me call at 416-540-8681, so we can see the inside of these homes.

Keller Williams Real Estate Associates.
BUS 905-812-8123
FAX 905-812-8155 DIRECT 905-785-7282
E-MAIL : mailto:gail@gailsellshouses.com?subject=Mississauga
Website : www.gailsellshouses.com

Thinking of selling your home in the next 3 to 6 months? Would you like a Complimentary & Over-The-Internet Home Evaluation

Want a free 31-page report on the 2009 Mississauga housing market? Click here to subscribe to my Mississauga real estate monthly newsletter and get your free report instantly!

Meadowvale Homes for Sale – April 6,2010

Meadowvale Homes for sale for March 15, 2010

gailreeves — Tue, 16 Mar 2010 00:53:56 +0000

There are a few new homes for sale in Meadowvale. Check out today’s selection.

Keller Williams Real Estate Associates.
BUS 905-812-8123
FAX 905-812-8155 DIRECT 905-785-7282
E-MAIL : mailto:gail@gailsellshouses.com?subject=Mississauga
Website : www.gailsellshouses.com

Thinking of selling your home in the next 3 to 6 months? Would you like a Complimentary & Over-The-Internet Home Evaluation

Condominiums for Sale in Erin Mills, Mississauga for March 15, 2010

gailreeves — Tue, 16 Mar 2010 00:49:05 +0000

If you are in the market for a condominium in Mississauga, you may want to check out these units available in Erin Centre Boulevard and Kimbermount.

Keller Williams Real Estate Associates.
BUS 905-812-8123
FAX 905-812-8155 DIRECT 905-785-7282
E-MAIL : mailto:gail@gailsellshouses.com?subject=Mississauga
Website : www.gailsellshouses.com

Thinking of selling your home in the next 3 to 6 months? Would you like a Complimentary & Over-The-Internet Home Evaluation

Want a free 31-page report on the 2009 Mississauga housing market? Click here to subscribe to my Mississauga real estate monthly newsletter and get your free report instantly!

Condominiums for Sale in Erin Mills, Mississauga for March 15, 2010

Semi Detached and Detached Homes in Churchill Meadows for March 15, 2010

gailreeves — Mon, 15 Mar 2010 22:52:21 +0000

What a great way to start off our March break with fabulous weather. If you are shopping for a home in Churchill Meadows, here are some properties you may want to consider.

Keller Williams Real Estate Associates.
BUS 905-812-8123
FAX 905-812-8155 DIRECT 905-785-7282
E-MAIL : mailto:gail@gailsellshouses.com?subject=Mississauga
Website : www.gailsellshouses.com

Thinking of selling your home in the next 3 to 6 months? Would you like a Complimentary & Over-The-Internet Home Evaluation

Homes for Sale In Meadowvale, Mississauga – March 11, 2010

gailreeves — Thu, 11 Mar 2010 21:27:50 +0000

Today we are highlighting new listings for Meadowvale. There are a few detached homes in today’s list . As always, if you would like to view the inside of any of these homes, please give me a call at 905-812-8123 or visit my website at www.gailsellshouses.com.

For Homes for Sale in Meadowvale, Mississauga, Brampton and Oakville see Sell My Home in Mississauga Want to have MLS access to beat other buyers to your dream home? Sign up with no obligation at my Find Your Dream Home Site

Homes for Sale in Churchill Meadows – March 10, 2010

gailreeves — Wed, 10 Mar 2010 17:02:59 +0000

Today we have 4 new listings in the Churchill Meadows area of Mississauga. Click here to see the homes or view the video below.