Happy New Year!
I’d like to tell you about a service I just launched — a service for finding properties listed for sale by banks due to non-payment (power of sale), as well as properties being sold by the owner’s heirs when the owner is no longer able to do it themselves (estate property).
A little background on why this might be interesting to you.
When a bank gets the right to put a property up for sale (i.e., unfortunately, the homeowner can no longer keep up with the mortgage), the bank’s main goal isn’t to get the full market value of the property. The bank just wants to recover the money it lent for the mortgage, plus any associated fees, and preferably as quickly as possible. Whatever remains after all deductions goes to the former owner — and whether that covers their down payment is of no concern to the bank.
The situation with heirs who inherit property is somewhat similar: they don’t have the same emotional attachment to the house as the original owners. They need to sell the property and divide the proceeds among all heirs. Even if it’s slightly below market value, at this stage, it usually doesn’t bother anyone.
These are exactly the kinds of properties — listed by banks or heirs — that are often of special interest to those looking to buy below market value. Yes, these properties often require significant repairs, but even that is usually accounted for in the price and can pay off in the long run.
My service provides you with daily (or weekly) updates on these types of properties as they hit the market.
Want to be among the first to receive this information? Subscribe to the newsletter and decide for yourself whether it’s right for you. You can unsubscribe at any time — no spam, guaranteed.
You can access the service here: www.UnderMarket.ca.
If anything isn’t working, please let me know 🙂
Thank you!
