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Power of Sale in Ontario — What It Means and How to Stop It
If you've received a power of sale notice, you're not alone — and you have more options than you think.
What Is Power Of Sale in Ontario?
Power of sale is a legal process that allows a mortgage lender in Ontario to take possession of and sell a property when a borrower has defaulted on their mortgage payments. Unlike foreclosure — which is rare in Ontario — power of sale does not require court approval to proceed. This means it can move relatively quickly once the required notice periods have passed.
When you receive a power of sale notice, you are being formally told that your lender intends to sell your property to recover the outstanding debt. The notice gives you a redemption period — typically 35 days for residential properties — during which you can bring your mortgage payments up to date and stop the process. If you cannot make up the arrears within that window, the lender has the right to list and sell the property themselves, often below market value and without any consideration for your equity beyond covering the debt.
You do not have to lose your home to the bank. Selling directly can stop the process and put money in your hands — before the lender takes over.
What many Ontario homeowners don't realise is that selling the property themselves — before the lender takes over — is almost always a better outcome. A private sale allows you to control the process, achieve a fair market price, pay off the debt, and walk away with any remaining equity. The lender's power of sale is designed to recover their money, not protect yours.
Key Realty buys properties from homeowners in power of sale situations across Ontario. We move quickly because we know time is the critical factor. We don't require financing conditions or lengthy inspection periods. If you've received a notice, call us — we can tell you within 24 hours whether we're able to make an offer, and what that offer would be.
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Talk to Us — No Obligation
Tell us about your property — we'll explain your options in plain language, with no obligation.
Your information is kept completely private. We will never share your details or pressure you to accept any offer.
How We Work
Simple, Fast, No Pressure
We Present a Fair Offer Within 24–48 Hours
No pressure, no obligation. Just a clear, honest number.
You Choose Your Closing Date
Close in as little as 14 days — or take the time you need.
How Key Realty Helps
Fast Offer
We assess and respond within 24 hours. In a power of sale situation, that speed matters.
No Repairs Needed
We buy the property in its current condition. Don't spend a dollar fixing it up.
You Choose the Timeline
We can close in as little as 14 days, or on a schedule that works around your redemption period.
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Common Questions About Power of Sale in Ontario
We Help Power of Sale Sellers Across Ontario
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