Bianca Marijan

Real Estate City Inc., Brokerage

office:289 389 2323
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Must Sell In Hamilton!

Power of Sale | Foreclosure | Estate Sale | Fixer Upper | Listings in Hamilton


The number of bank sales in the area is slowly increasing. The nasty habit of using one’s house as a bank machine and refinancing the equity away and living beyond one’s means are primary reasons that lead to mortgage default.


There are some good deals out there-if you act fast.

   distress sales    

 Browsing stale web sites and reading the newspaper for ads in search of estate sales, power of sales or foreclosures is not going to get you the results you want. 


These properties are listed and sold quick, sometimes within hours of coming on the market. The only way to be aware of a new listing is to partner up with a real estate agent who can put you on a feed - me.

That's what I'm here to do.




From my MLS data base, to your inbox...



So when a new listing comes out, you receive the info about it at the same moment I do. 

Fill out this form and provide as much info as possible so I know what you’re looking for and where, and listings will be emailed to you, immediately when they come on the market.

There is no cost for this information BUT there is absolutely the expectation that you will contact me to view these properties.

Continue reading here...




Daily Distress Listing Report



 power of sale

single family rentals

multi-residential & small buildings


If what you are looking for is not in any of the top links simply fill out this form and I will gladly find what you are searching for as you request and email the listings to YOU!





Foreclosure Rules in Ontario


The foreclosure proceedings in the province of Ontario are quite quick, as these Canada foreclosure proceedings are generally given out in the mortgage documents.

Initially, power of sale was developed in this province by lenders who wanted to dispose property as well as recover debt, very faster way. As a result of this need, they started including power of sale provisions in those mortgages that allowed them to dispose away property under the default of the borrower’s, without the intervention of the courts. The method of power of sale is now under the Ontario Mortgages Act of Canada foreclosure.

Two kinds of power of sale are under the Mortgages Act – the contractual and statutory. When mortgage documents include power of sale provisions, it is contractual power of sale. Statutory power of sale occurs in case the mortgage documents do not include power of sale provisions. Statutory power of sale may be rare but the lender can exercise the power of sale until the borrower has failed to pay for three or more months.

Both the abovementioned types of power of sale begin when a notice is given to the borrower after a period of 15 days of default. The notice has to be given to anyone who has an interest in that property, including statutory lien holders, succeeding encumbrances, or even those who have placed in writing their interests in the property to the lender. The notice is tied to the Mortgages Act, and it is then known as a “Notice of Sale Under Mortgage”. The notice includes details of the mortgage like:

  • The date when the mortgage was made,
  • A warning that the lender will sell away the property in case the amounts owing are not cleared within a specified date,
  • The parties to property mortgaged and to the mortgage, and
  • The owing amounts

If it is contractual power of sale, then the borrower gets 35 days to pay, if it is not stated otherwise in the mortgage agreements. If it is statutory power of sale, the borrower gets 45 days to pay. The lender does not have any power do anything more within the “redemption” period, however the borrower may redeem the mortgage by paying the amounts owing.

After the expiry of the redemption period and the failure of the borrower to amend the default, the lender may sell the property. Through power of sale, the lender can sell property by private contract, auction, or tender. Generally, real estate agent lists the property and places it on the market for sale. To make sure, a large section of the market notices the property, proper guidelines are set up, including listing the property under multiple listing services, getting appraisals, and ensuring that the listing is meant for the normal period of such foreclosed properties.

After the property is sold off and if there is some surplus, then the lender has to account to other subsequent encumbrancers and the borrower. According to the Mortgage Act the proceeds of the sale firstly has be applied to the rate of conducting the sale, and then to cost and interest owing under the mortgage. Then the proceeds will go to the principal money owing, next to pay the amounts because of subsequent encumbrances and eventually to pay security deposits of tenants.


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