Thursday, March 26, 2009

Pre-Foreclosures in GTA - do they exist?

I get asked about pre-foreclosure properties quite often, so I thought I would post a question and my answer below.

Hi Mark,

Do you have any thing on pre-foreclosures?

Do you have properties where there can be discounts of 30 to 50%?

Of course there has to be room for profit;foreclosure don't work so well that way or do they?

Are you able to provide the deep discount properties?

Thanks Mark,


Hello GG,

Our system in Ontario is not set up for pre-foreclosures. Pre-foreclosure is a US term or out of province term, does not happen in Ontario very often.
I've not seen any properties at 30 to 50% off market value, not in the GTA. Sometimes 10% and rarely more, but it does happen.
Again, seldom are there foreclosures in Ontario, it's almost always POS.
Thank you,


  1. I also I've not seen any properties at 30 to 50% off market value in recent time or as well in past. 10 % is also high according to me. It is only 5%-7% only.

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  2. Yes, I would agree with you. Seldom are there properties in the GTA that are 10% less than market value, let alone 30 to 50% off market value! It seems to be that the US media and hype is influencing people here in the GTA and leading them to believe that huge discounts are available in our area. Certainly this does not appear to be the case on our MLS. Other sources may yield results that are better, but it would be very difficult and with plenty of luck!

    All the best,