Montreal Foreclosures

Montreal NDG Condos for sale

2010-12-15T10:16:00.000-08:00

Montreal NDG Condos for sale

When looking for a nice condo for sale in NDG, you have a choice between new condo constructions and older units.

Depending on what you are looking for, you can find good deals in either category. If you buy a new NDG condo, depending on the price, you can qualify for the city's first time buyer grant which will help with your downpayment and the welcome tax (aka land transfer tax).

If you buy older units you will get a better price than a new condo and you can find them either renovated or not. Renovated condos will cost you less than new and often have better quality finishing in them. Un-renovated NDG condos will cost you much less and give you the chance to pick and choose how you would like it to be.

In either case, you should consult with a real estate broker because there are many legal implications when buying a condo. Most importantly is the condo association document which outline the rules of the condo. This document is quite long and contains a lot of legal clauses that can be confusing.

Think you can find a good deal by buying ndg condos in foreclosure? Sign up to the Montreal foreclosure list to be notified when new NDG condos are put on sale for foreclosure. Sign up is to the right.

Montreal Bank Auctions

2010-12-11T06:06:00.000-08:00

Montreal Bank Auctions

Since the rules have change about banks selling real estate properties, there is no longer a need for them to hold Montreal bank auctions. Late in 2002, the Quebec government changed the laws that would change the way foreclosures are handled.

You see before 2002, the bank had to sell all properties repossessed starting at the amount of the debt. Therefore, the best way to get a high price would be to hold a Montreal Bank auction. Bidders attending the bank auction would outbid each other and raise the price.

After 2002, the Bank no longer need to hold Montreal Bank auctions because they can now ask whatever price they want. So they ask market value and let real estate brokers handled the sales.

Find out more about Montreal bank auctions, foreclosures and repossessions by signing up to the Montreal Foreclosure list by using the form to the right -->

Have a great day

Montreal Revenue Property: Finding good income properties in Montreal

2010-12-10T09:57:00.000-08:00

Montreal Revenue

Property: Finding good

income properties in

Montreal

Investing in a good Montreal revenue property can be very rewarding if you know what you are doing. Finding the right multiplex can be somewhat challenging and time consuming especially if you are doing the work without a knowledgeable broker. At the time I write this article, there are more than 500 Montreal revenue properties available but not all of them are actually creating cashflow.

2 Ways of buying income properties in Montreal

There are two different strategies used to buy income properties in general: For cashflow and for capital gains. If you are just getting started in the world of investing in real estate the only strategy you should use is for cashflow.

When buying revenue property in Montreal for cashflow you will typically be buying multiplexes in areas that are up -coming. The main reason being that multiplexes in areas that are already very popular tend to be priced so high that the revenues do not offset the expenses. To find a suitable cashflow property, the income must be enough to pay for the mortgage, taxes and operating expenses.

A good rule of thumb is that the leftover cashflow should be equal or better to 10% of the initial downpayment. Otherwise, there won't be enough money to take care of the unexpected expenses. This is known the cash on cash return ratio. Having a lower cash on cash is acceptable in more desirable areas of the city.

Buying property for capital gain is the strategy used in highly desirable areas like the plateau, westmount, outremont and TMR. This strategy takes into account that properties in highly desirable areas appreciate rapidly over time. Oftentimes, these multiplexes do not generate enough cashflow to offset the expenses but the capital appreciation over time will be great enough to provide a good return on capital when sold. This strategy is more risky because it's a bit like gambling or playing the stocks. Buying land is also the same strategy. Only use this strategy if your cashflow can accommodate the negative cashflow created by the new property.

Advantage of buying for Montreal revenue property for cashflow

The beauty of buying income property for cashflow is that it still benefits from capital appreciation. Since you buy the multiplex in upcoming areas, the value of the actual building also increases over time. So the cashflow pays for all of the expenses to carry the property and it can be sold or refinanced after some time for a nice capital gain.

Montreal Property Tax Sale Procedure: Tax Sale Auctions

2010-11-30T07:40:00.000-08:00

Montreal Property Tax

Sale Procedure: Tax Sale

Auctions

Once a year the city of Montreal along with the Comité de gestion de la taxe scolaire auction off all the properties that have not paid their tax bill in full. Montreal property tax sales is a great way to pick up properties for much less than they are worth.

Before you think about how great it would be to get a great deal on real estate, you need to know how the procedures to follow to participate in the Montreal tax sale.

What is the Montreal Tax Sale Process?

The Montreal tax sale auctions occur once a year in late autumn. In order to participate, you must present yourself early to sign up.

A revised list of properties will be produced and handed to everyone that is registered to bid. Once the tax sale begins, the properties will be auctioned off one by one in order that they appear on the list.

To make a bid, bidders must identify themselves, giving their name, address, occupation and mention if they are bidding for themselves or on behalf of someone else.

Once the auction for a property is finalized, the buyer must pay the property in full along with any taxes. Payments are to be made in cash, certified check of bank draft.

What documents do you need to participate?

To participate, any person must produce a valid photo ID. Medicare card, driver's license, passport or any other official photo document is acceptable.

What forms of payment are accepted?

The buyer must pay the full amount of the purchase immediately:

* In cash
* By certified cheque
* By bank draft

NOTE THAT CREDIT AND DEBIT CARDS ARE NOT ACCEPTED

What happens if the certified check is not the right amount?

If the buyer has a certified check of an amount greater than the bid, the difference will be returned to him by the city in a delay of 10 days. The surplus amount can also be applied towards another property if the buyer has made more than one bid.

If the check is less than the amount required, the property will immediately be put back for sale and the buyer will be responsible for paying the difference his bid and the actual final sales price of the auction.

Are there conditions to the sales?

Yes. All properties are bought site unseen at the risk and perils of the buyers. This means that you cannot change your mind after the fact.

Also, the previous owner may, within a period of one year, purchase the property back from the auction buyer for the amount he paid plus 10% yearly interest. This is known as the right of redemption and is an absolute right. The buyer cannot contest this right.

To get notified when the Montreal Tax Sale happens, sign up to the Montreal foreclosure list and we will send you an email to let you know. Sign up today using the form on the right.

Montreal Real Estate Repossessions

2010-11-30T07:30:00.000-08:00

Montreal Real Estate

Repossessions

Montreal real estate repossession are properties that have been repossessed by the banks or lenders for failure to make payments. In general, these properties have seen better days and there will be some work required to improve them. This is a great way to find properties that could be flipped for profits.

How do you find Montreal repossessions?

If you are interested in getting the list of Montreal repossessions, you can sign up to the foreclosure list using the form on the right. Every week a new list of foreclosed homes is published for you to look through.

You should know that properties that have very low prices are often attract many buyers and it is not uncommon for the purchase price to exceed the actual asking price. Even in those situation, there are many good deals to be found for contractors and flippers.

Sign up today to the foreclosure list and you will receive the full list of all Montreal real estate repossession available for Montreal and laval.

Montreal Condo Foreclosures

2009-05-13T11:52:00.001-07:00

Montreal Condo

Foreclosures

You can find Montreal condo foreclosures in almost any part of the city. There are areas, however, in which you will rarely see montreal condo foreclosures. These areas tend to be in the more expensive parts of the city.

Areas where condo foreclosure are rare are:

Westmount condo foreclosures
Hampstead condo foreclosures
Outremont condo foreclosures
TMR condo foreclosures

Areas that have a lot of foreclosures are:

Ville Marie condo foreclosures
NDG condo foreclosures
CDN condo foreclosures
Atwater condo foreclosures
Downtown condo foreclosures
Verdun condo foreclosures
Plateau condo foreclosures

Sign up to the foreclosure to get regular updates on the condo foreclosures that are available in Montreal

West Island Foreclosures: Finding a Bank Owned of in the West Island

2009-04-06T14:04:00.000-07:00

West Island Foreclosures:

Finding a Bank Owned Home

in the West Island

As the West Island real estate market becomes more attractive to buyers, I started looking for a house to buy. Of course, I looked at the West Island foreclosure list first. Not finding what I was looking for in the West Island foreclosures, I turned to the MLS.

You would be surprised with how many motivated sellers there can be during these hard financial times. Just consider the motivation of the following people:

- Lost his job because of the recession
- Divorce
- Carrying two mortgages at once
- Relocation
- House need a lot of renovation
- Pay cuts

It's always a good thing to look at the West Island foreclosure list first, but don't stop there. You can always find a good deal if you know what you're looking for.

To get the West Island Foreclosures, just sign up to the Montreal foreclosure list by using the form on the right.

Listing of bank properties in Montreal

2008-09-17T10:10:00.000-07:00

Listing of bank properties

in Montreal

By signing up to the Montreal Foreclosure list, you'll get access to the full listing of bank properties in Montreal.

Once a property has been foreclosed by the bank, it is put back on the market for sale. In order to get the full list of bank properties in Montreal, you simply have to sign up to the weekly Montreal foreclosure list.

Every week, you will be able to download all the listings of bank properties in Montreal, Laval and the south shore. The list is always up to date and if you would like to see a home, you simply have to email us.

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Foreclosures are up 327% in some area of the states

2008-05-31T18:23:00.000-07:00

The number of California homes lost to foreclosure in the first quarter surged 327% from year-ago levels — reaching an average of more than 500 foreclosures per day.

The Result: 517 foreclosures every day in the first quarter of 2008. The main factor behind this foreclosure surge remains the decline in home values. Additionally, a lot of the ‘loans-gone-wild’ activity happened in late 2005 and 2006 and that’s working its way through the system. The big ‘if’ right now is whether or not the economy is in recession. If it is, the foreclosure problem could spread beyond the current categories of dicey mortgages, and into mainstream home loans.

Greed does terrible things. People going through foreclosure don’t deserve any kind of sympathy. They should’ve read the fine print. Too many people living above their means to impress the guy next door who is also sinking.

Source: http://streetsideinvestor.com/index.php/category/real-estate/

Montreal Foreclosure are up 36%

2008-02-27T18:34:00.000-08:00

Montreal Foreclosure

are up 36%

With the sub-prime crash in the united states, Americans have seen foreclosure rates jump in the last year. In some regions of the country, foreclosure rates have gone up as much as 1500%. This means that a lot of people are losing their homes and it has become harder for home buyers to secure financing for their purchase.

The cause of this disaster is mainly attributed to Adjustable Rate Mortgages (ARMs). ARMs are also known as teaser rate mortgages because they initially offer very low interest rates and increase them gradually.

This means that buyers can benefit from very low monthly payments initially, but these balloon very quickly to amounts that they cannot afford and they end up losing their home. Rates can increase as much as 2 times over the period of just a few years.

What does this mean for the Canadian Real Estate and Mortgage market? Although the lending situation in Canada is much different from the American's, our fate has always been closely tied to our southernly neighbors. Canadian lenders do offer adjustable rate mortgages, but Canadian home buyers have mainly stayed on the safe course and opted for fixed rate mortgages.

Regardless of our safer attitude towards borrowing money, a recent report has seen an increase of 36% in Montreal Foreclosures since 2007. This either means that there has been an increase in negligent home owners or that they may be a slowing down of the Canadian economy.

One man's crisis is another's opportunity. This is real estate investment gold. With the special foreclosure laws that exist in Quebec that allow bank to make profit on the repossessed homes, the trick to making the real deals is to get these properties in pre-foreclosures.

Of course you can still get a nice discount on foreclosures, but the real money is made by finding, contacting and negotiating with those home owners that are in pre-foreclosure. They may not want to sell their home, but the bank is only 60 days away from taking it back.

Home owners in this situation are never happy about letting go of "their equity", but like I always say:"It's your equity until you stop paying the mortgage. Then it's the bank's"

ZENN - Zero Emission No Noise Car

2008-01-22T10:43:00.001-08:00

This is so cool

IMPORTANT Updates for Montreal Foreclosure List

2008-01-21T14:47:00.000-08:00

IMPORTANT Updates

for Montreal Foreclosure

List

Hi everyone,

Just wanted to stop by and thank you all from the bottom of our heart for joining the Montreal Foreclosure List. We are now quickly approaching 100 members and this service is still in its infancy.

Upcoming changes

A) We will soon be adding 2 new lists to the Montreal Foreclosures

Montreal Commercial Foreclosure List: Montreal foreclosures are not restricted to residential properties. That's why we are proud to announce that we are adding the Montreal Commercial Foreclosure List
Montreal Industrial Foreclosure List: Although industrial foreclosures are more rare in Montreal, it still happens that they go in foreclosure. We thought it was necessary that we offer the Montreal Industrial Foreclosure List to our subscribers.

B) We will be launching "Custom Reports", a personalized searching service that will save you time and effort. This service will be reserved to a select few members. If you would like more information about this service, please contact us for details today. Spaces will fill up quickly.

That's all for now. As always, we thank you for using our free Foreclosure Services.

Motivated Seller Charming Home in Laval

2008-01-17T13:54:00.000-08:00

Charming home in Laval Ste-Rose

Great opportunity for 1st time buyers. Close to the train.

Beds:2
Bath:1
Parking: 2

Included: Wood stove, shed, satellite dish, dishwasher, hot water tank

Asking: SOLD

For more properties like this one, call today...514-831-5933

Eric Giguere
Affilated Real Estate Agent
Groupe Sutton

Montreal Pre-Foreclosure

2008-01-04T13:34:00.000-08:00

Montreal Pre-Foreclosure

If you haven't been investing Montreal pre-foreclosures, it might be time to start. Investing in Montreal pre-foreclosures is a great way to make a lot of money on real estate.

Owner who are in pre-foreclosure are much more motivated to sell than a regular seller because they know that the bank will take back the house within 60 days. You can find pre-foreclosures almost anywhere on and off the island of Montreal: Laval, South Shore, West Island, Downtown, Old Montreal, Montreal-Nord, Est End, North Shore and even in Westmount.

A home is in pre-foreclosure for a period of 4-6 months depending on the bank and any action made to rectify the situation. The pre-foreclosure period can be separated into two more distinctive parts: Default and Notice of Default.

The period called "Default" begins when the owner fails to make the first payment. This can be a crucial find since the owner is quite distraught about the situation. A this point, there has been no action from the bank and nothing will most likely happen until the third missed payment.

After the third missed payment, most banks will send the "Notice of Default". At this point, the mortgage on the house has been called in and the owner will have 60 days to rectify the situation or face losing the house.

This is where investors will come in and buy the house. This is usually a good thing for the owner because even though he may feel like he lost his house, he saved his credit history and maybe even a little equity.

If you are interested in Real Estate Investing in Montreal, have a look at the recommended resources on the right hand side. You may also want to sign up for the Free Foreclosure List and get started on those. Then you may want to get into the Montreal pre-foreclosure business

Good Luck and good house hunting

Thank You

2007-12-08T20:17:00.000-08:00

Thank you for signing up for the Montreal Foreclosure List. You will soon receive an email from Montreal Foreclosure List

You need to check your email to confirm your subscription.

If you use a free email like hotmail or yahoo and do not find the email,
you should look in your JUNKBOX.

Once you've confirmed your email, you will be able to download the
newest Montreal Foreclosure List

Montreal Foreclosures

2007-12-07T14:31:00.000-08:00

Montreal Foreclosures

Fill out the form on the right to receive up to date Montreal Foreclosure list. Just enter your postal code where it says zip. Thx

If you are looking for Montreal foreclosures then you've come to the right place. Most of these other site are American Companies that collect your information to later resell it to real estate agents. We are 100% Canadian and are based locally in Montreal. That's why we have the best list of foreclosed home available.

First, let's make an important distinction when it comes to Montreal Foreclosures. There are two stage in the foreclosure process: 1. Pre-foreclosure & 2. Foreclosure. This is important because during the pre-foreclosure, the bank doesn't own the property yet and the owner may still sell the house. Once foreclosure occurs, the bank takes possession of the house and now passes it on to an agent to sell.

The Quebec laws used to prevent the bank from making any profits from the sale of foreclosed home which meant that it had to sell the house for the amount that was owed. This allow investor to buy the house for very little money and turn it around for a large profit. The laws have changed and the banks are now allowed to make profit on the sale of the home. This changes everything.

Now banks give the house to an agent that will try to sell the house for market value. Each bank has specific procedures on how they determine the price at which they will sell the home. For example, Bank XYZ will have set time lines for the determination of the price: Up to 6 months on the market they expect market value, past 6 months they will accept as low as 80%. This is just an example and I don't know the exact timelines that banks use, but you can see how they work it.

How do you make money with Montreal Foreclosures? By purchasing the home in pre-foreclosure. Pre-foreclosure is the time period during which stops making payments to the bank and the time at which the bank takes possession. The bank usually sends a notice of default after the third missed payment at which time the owner has 60 days to make the mortgage current. So the pre-foreclosure last for about 150 days during which the most profit can be made.

If you would be interested in receiving the list of Montreal Foreclosures and Pre-Foreclosures, just completely fill out the contact form.

Montreal Foreclosures

Montreal NDG Condos for sale

Montreal Bank Auctions

Montreal Bank Auctions

Montreal Revenue Property: Finding good income properties in Montreal

Montreal RevenueProperty: Finding good

income properties in

Montreal

Montreal Property Tax Sale Procedure: Tax Sale Auctions

Montreal Property Tax

Sale Procedure: Tax Sale

Auctions

Montreal Real Estate Repossessions

Montreal Real Estate

Repossessions

Montreal Condo Foreclosures

Montreal Condo Foreclosures

West Island Foreclosures: Finding a Bank Owned of in the West Island

West Island Foreclosures: Finding a Bank Owned Home in the West Island

Listing of bank properties in Montreal

Listing of bank properties in Montreal

Foreclosures are up 327% in some area of the states

Montreal Foreclosure are up 36%

Montreal Foreclosure

are up 36%

ZENN - Zero Emission No Noise Car

**IMPORTANT** Updates for Montreal Foreclosure List

**IMPORTANT** Updates

for Montreal Foreclosure

List

**Motivated Seller** Charming Home in Laval

Montreal Pre-Foreclosure

Montreal Pre-Foreclosure

Thank You

Montreal Foreclosures

Montreal Foreclosures

Montreal Revenue

Property: Finding good

Montreal Condo

Foreclosures

West Island Foreclosures:

Finding a Bank Owned Home

in the West Island

Listing of bank properties

in Montreal

IMPORTANT Updates for Montreal Foreclosure List

IMPORTANT Updates

Motivated Seller Charming Home in Laval