Deeply discounted real estate properties investing requires an in-depth understanding of the real estate market, which comes with experience and knowledge.
If you are a keen investor, then you must be trying to research the deeply discounted properties in the Canadian real estate market so that you can buy low and sell higher.
Do you know more than 20 strategies that help lay hands on deeply discounted properties in Canada? Looking for these properties means finding the panic distressed and ultra motivated home sellers who must sell. They need cash now and closed the deal yesterday! They are in a panic state.
Let’s explore how you can find a panic home seller who would be willing to sell their property at a deep discount in Canada.
1) Foreclosures: When the homeowners fail to pay mortgage payments, their homes can face power of sale and or foreclosure. They may not have many choices to sell at bargain prices to get rid of the problem.
2) Run down, fixer upper properties: Neglecting the maintenance and poor property management create situations where these properties are totally outdated. Most of the buyers won’t bother since it requires a lot of work. These properties are a perfect fit for an investor who is looking at a deep discounted price.
3) Power of sale: Power of sale can start upon defeating a mortgage payment after the 15th day in Canada. However, the borrower is given 35=45 days to come up with all the areas and put the mortgage in good standing. Depending on the province the lender or bank can proceed with power of sale. Power of sale properties are always sold at fair market value.
3) Bankruptcy: Finding the bankruptcy and insolvency properties are usually auctioned off to the highest bidder. There are several different ways of selling these properties in Canada. Learn from canadian real estate experts at www.Flipping4Profit.ca
4) Surplus: The properties listed on public works and government services Canada provides surplus federal real estate available on sale to the general public at the market value. A real estate investor can buy these properties through Federal, provincial, municipal, crown corporations, charities and foundations.
5) Canada revenue agency behind Taxes: When you are unable to pay taxes to the Canada revenue agency (CRA) they have several tools available to collect the taxes. They can garnish your wages, freeze your bank accounts and they can auction off your real estate to recuperate your tax arrears
6) Civil enforcement: Civil enforcement is done by obtaining a judgement from the court. The creditor can ask the Sheriff to conduct a sale of their properties. Some of these sales may appear on MLS in certain provinces.
7) Sheriff sale of lands: These sales are done by the sheriff only once the creditors have obtained the judgement against the property owners.
8) Tax liens: A tax lien sale is the sale of only the property’s liens. Liens occur when property taxes are unpaid for a certain period. The municipality then places a lien on the property sold on its own at an auction.. The aim of the sale is for the municipality to recover the unpaid property taxes.
9) Death, Drugs and Depression owners: As real estate investors, you may look for stigmatized homes for sale. Properties are available at a deep discount whose homeowner has committed suicide on the property or have a criminal record, or is under the influence of drugs or depression.
10) Behind mortgage: Homeowners who are behind on their mortgage payment often opt to sell their property off the market at a discounted price as mortgage payments are reflected on your credit report, which affects other loans as well.
Whatever strategy to find deeply discounted property might appeal to you, it is advisable to seek expert advice. You should join the real estate seminar about the same conducted by www.flipping4profit.ca. to have a deeper insight into the business of money making passively.