I know in Ontario, Canada we do not have foreclosure sales but do have power of sale. The difference is that the lender will take the property and have an agent put the property on the market for market value.
Usually these homes will be in bad shape and someone who is handy that can do the improvement will benefit and get more of a return when selling. It also depend how long the property has been on the market. Some properties that have been sitting for a longer time are easier to bring down in price.
Real Estate Investor · Toronto, Ontario · Member since 2008 · 19 posts · 1 vote
18y
I went to a bank and spoke with the branch manager about power of sales. Basically what he said was the same thing that Louis said which was they list it with agents, but what I did was give him my number to have an agent call me, because only certain agents get listings/properties from banks.