Repossession Listings -November 12

November 12, 2008 by
What is a real estate repossession? The term “repossession” is generally used to refer to a financial institution taking back a building/property that was either used as collateral, rented or leased in a transaction. Which means that when you find a property that was repossessed, chances are, negotiations are easier.

Why is it easier?…read on.

This is how it works: When a financial institution hires a real estate broker to sell the repossessed property, the realtor prices it according to market value. Which means, the property is priced according to comparables that have sold in that area in the past 6-12 months. The benefit to a buyer is that the seller is the financial institution and not an emotionally attached “this is where I watched my kids grow up” person. The seller is not looking to profit or needing a certain amount of money for his next purchase. The seller, the financial institution, is just looking to recoup their money. Selling is not their business.

Repossessed Properties
Lachine: Lachine Nov 12.pdf
NDG / Cote des Neiges: NDG - Nov 12.pdf
Le Sud Ouest (St-Henri): Le Sud Ouest -Nov 12.pdf

If you would like something more tailored please email me at jenn@montreal-realestate.ca and let me know. I can search many areas and even put you on an automatic emailing list for when a new repossession is hot off the market.



Send Page To a Friend

I wrote this article because I love real estate. If you would you like me to work for you, call me 514-402-8444 or EMAIL ME!

To search properties go here www.Montreal-Properties.com

Leave a Comment