Short sales and pre foreclosures in canada page 1 short sales and pre foreclosures in canada by roger hargreaves jul 06 2020 short sales and pre foreclosures in canada posted by georges simenon media text id a4244837 online pdf ebook epub library how to buy a foreclosed home in canada loans canada as we mentioned foreclosures and sales of . As we mentioned foreclosures and sales of foreclosed homes are rare in canada and are more common in the united states that said it does happen and there are ways that you can buy a foreclosed property which involves a different procedure than a traditional mortgage. A short sale may be part of a pre foreclosure but it can also be before this stage occurs however the fact is that the owner is requesting the bank to let them sell the property for less than its actually owed on the loan short sales are rather difficult to do since its not easy to find a buyer that will accept any price. Short sale when the house is a short sale it means that it is being offered for sale at a price lower than what the seller owes on the mortgage the lending institution must pre approve the buying process and any offers made for the real estate property for sale will be examined by the lender not all pre foreclosures may be considered short . When weighing the decision to buy a home in pre foreclosure vs a short sale remember that both sales have risks and perks with the struggling economy and real estate market there are quite a few homes on the market that are in some form of distress with a job loss or reduced income distressed sellers may no longer be able to pay their mortgage foreclosure may be imminent or
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