Move to a smaller, cleaner place in Montreal

Get a cash offer now!

Cash home buyer, Buy house fast, Sell my house fastA recent study estimates that 47% of foreclosed properties are still inhabited.

You may be surprised by this statistic, but we’re not.

Most people don’t realize that banks aren’t in the business of owning houses.

These are companies that want to make cash loans. However, when a bank has to take over finance, it has to hold the house until it is sold if it wants to recover the money it has invested in it.

However, an uninhabited Montreal home is likely to deteriorate because no one maintains it. That’s why banks often prefer to let you live in the house even if you’re no longer paying and the finance recovery process has been set in motion; it keeps the rogues away and gives the property a chance to be fairly well maintained.

We’ve seen several stories on the news about people staying in their homes after a financial recovery. There are even stories of banks simply abandoning properties.

So some people manage to stay rent-free for months or even years.

Wow! What an excellent idea! Let’s all live for free. (wink)

But… are things really that simple?

No.

No bank would neglect to collect rent on purpose. The only way to live somewhere without paying is to be lucky enough to have an error on your record.

Maybe you’ll be the lucky one! It’s possible, it’s already happened. However, this situation is not exactly legal. Seriously, not paying off your debts could get you into trouble.

So why are so many foreclosed homes inhabited? To understand this, you need to know that nobody wants a house to be unoccupied. An empty house is more likely to fall victim to vandalism and crime.

Staying in the house can help the bank preserve its investment. In fact, it’s in their interest to make sure it’s inhabited. Considering the way repossession laws are written in Quebec, your bank may ask you to leave when it would prefer you to stay.

There are a few 100% legal ways to stay in your home,
even after your home has been repossessed.

How can I stay in my home after taking over finance in Montreal?

Not all of these options are available to everyone (depending on your situation and your creditor). You’ll need expert advice.

Buy House Cash, Sell my house fast, Buy house fast1) Please wait. Honestly, it’s not a very good option, but it’s becoming increasingly popular. One thing’s for sure: you don’t have to run out and abandon your home as soon as you receive a notice of default. Indeed, since eviction procedures can take several months (or even years), nothing’s over until it’s over. So don’t give up too quickly. On the other hand, don’t wait for a policeman to come and evict you before you start making boxes.

2) Go to court. It’s quite rare, but sometimes a judge will grant a delay or even a right of occupancy. This is a good option if you (and your lawyers) can prove that the bank did not proceed lawfully throughout the finance recovery process. In recent years, a number of fraudulent bank practices have been reported. So we’re seeing more and more people going to court to stop a financial recovery process. Taking a bank to court with lawyers is a difficult, expensive and demanding business, even if you can present the perfect case of negligence (so most people don’t stand a chance).

3) Offer an incentive to move. Most of the time, people who buy a financial repossession have to spend several thousand dollars on legal fees and other eviction costs. You could save everyone time and money by covering some of these expenses. It’s called “cash for keys”. It may sound like a funny idea, but a little money can really make everything run smoothly and smoothly. You can also help the bank and the buyers by not handing over the house to squatters before they repossess it.

4) Rent. It may sound crazy, but some banks have no problem taking over a property from a previous owner and leasing it back to them. Obviously, this is only a short-term solution, since the bank will ask you to leave as soon as it has found a buyer. In certain situations, it is also possible for us to buy the property and rent it to you.

Home buyer cash, Buy house fast, Sell house without agentReading this article and learning about your options is the first step in the right direction. We help homeowners like you find creative solutions to your problems.

We can’t help everyone,
but we hope we can help you

.

We buy homes like yours in Montreal, Quebec from owners who need to sell fast.

Call 514-320-1000 to speak to us or
fill in our form! >>

Testimonials