Carty Gwilym brings decades of experience in the area of foreclosure appraisals.
Seeing a home go into foreclosure or power of sale is never a scenario that anyone wants to see. But unfortunately is does happen when a property owner falls well behind in mortgage payments or encounters other serious financial difficulties. In these difficult situations there is almost always a requirement for a thorough power of sale or, foreclosure appraisal.
In Ontario, the two most common mortgage holder remedies are:
- power of sale and,
- judicial sale which is more commonly known as a foreclosure.
The term foreclosure is often used by Canadians as a result of its widespread use in the United States. However, in Ontario the power of sale is often the remedy of choice for a lender. Power of sale rights and procedures are governed by the Mortgages Act, case law, and are also set out in the standard terms attached to residential mortgage agreements.
When a mortgagee, or mortgage holder sells a property they are acting as “trustee” for all interests involved with the property including their own. Unlike what happens south of the border, in Canada a bank or lender must do its best to protect the property owners equity. In other words, the mortgagee must attempt to obtain fair market value for the property being sold in the current market. Carty Gwilym helps lenders obtain fair market value for homes that are in foreclosure and protect the financial interests of all parties involved.
Carty Gwilym is trusted for experienced, expert foreclosure appraisal services.
In cases where a foreclosure or power of sale appraisal is required by the courts or the mortgage holder, Carty Gwilym understands the needs of financial institutions, the rights of homeowners and is always aware of the emotional dynamics involved.
Legal firms, accountants and home financing institutions regularly depend on Carty Gwilym’s reputation and extensive knowledge in the specialized area of power of sale and foreclosure appraisals. We are known for our professional valuation expertise, comprehensive data collection and well supported opinions when dealing with situations that require an unbiased estimate of value.
Helping to determine fair market value.
In most cases, the mortgage holder will obtain appraisals from an experienced and credible appraiser so that they have independent professional opinions as to the value and marketability of the property. This is where the experienced team at Carty Gwilym comes in. Our team of residential real estate appraisers have extensive experience in the valuation of property for the purposes of court ordered sale and foreclosure.
Our comprehensive Market Analysis Report designed to help you sell your home.
Our exclusive Realty Check™ report is an essential way for homeowners to understand all the factors that may influence the value of their home before it comes time to sell. Prepared by our experienced home appraisers, Realty Check is an easy to understand yet comprehensive report that can help you get the most of your homes market value. It covers not only your home but the market factors that can influence the price you may be able to get for your home. Realty Check is only available from Carty Gwilym.
Get your Realty Check Report today.
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- 3 Yes, please contact me for my Realty Check Report