The prospect of a foreclosure is stressful to say the very least. You face losing your home and a damaging credit rating to follow. To mitigate the risk of this happening you need to sell your property right away. The problem, is that the real estate inventory in the greater Winnipeg area is deep and when supply is high buyers have their pick of the litter. If your house is not in tip top shape and/or located in a highly desirable community it will sit on the market far passed the date of your up and coming foreclosure. If the home is in disrepair, forget about selling through traditional channels all together. Realtors and agents will essentially demand that you renovate the property to make it fit for sale, but given that you’re facing a foreclosure the funds are simply not there. It’s a vicious cycle that many homeowners can’t escape, until now.
5 Day Cash Offer is here with a message – the power is still in your hands!
We will buy your house for cash at market value, without hidden fees and commissions. In most cases you will have the money you need to alleviate your burden within the week of our first conversation.
Sell Your Home Before Foreclosure Today
Selling Your Home Before Lenders Take Action

You’re relieved to find that you have an option for breaking the chains of an impending foreclosure but have heard that lenders may attempt to take this power away via a lender-initiated mortgage sale. Below is an accounting of what you need to know:
i. Mortgagees (lenders) can generally pursue mortgage sale in Manitoba without Court action. In fact, the majority of mortgage sales in Manitoba are administered by the District Registrars of the Land Titles Offices under the The Real Property Act.
ii. When a debtor (you?) fails to make a compulsory payment or is otherwise in breach of mortgage conditions, and the default persists for at least one month or longer, the mortgagee has the right to commence with a mortgage sale.
iii. Upon approval, the appropriate (to a given district) Land Titles Office will issue the mortgagee with a Notice of Exercising Power of Sale (NEPS). The NEPS will be served to the mortgagor (you) along with any other parties who have a proven interest in the property subsequent to the interest of the mortgagee.
iv. If the default on the mortgage continues for at least one month after the NEPS has been served, the mortgagee may appeal to the District Registrar of the Land Titles Office for an Order for Sale. This sale may either come from public auction or private sale.
v. Regardless of whether or not the Order for Sale has been initiated, you can remedy the default by paying the amount owed along with additional costs accrued in the process. This option only exists if the the mortgage is not a demand mortgage, or has matured and demand for payment in full has been made.
vi. If the Order for Sale has resulted in a successful auction or private sale, the new owner may take possession. Alternatively, the mortgagee may demand earlier possession, but this will be contingent upon circumstances, such as the mortgage default extending well beyond one-month, or some other concerning (to the lender) scenario.
Essentially, anything beyond the steps addressed above typically leads to a foreclosure. We don’t need to go into those particulars because you intend on selling your property before any of that happens.
Simply put, you need to sell before the lender pursues a mortgage sale.
We know you have many more questions, but don’t let the “unknown” delay your remedy any longer. All you need to do is call us and we can walk you through the rest.