What does POS mean in real estate?

Answer 1

Power Of Sale. It's a term used in Canada and means that the bank has taken the property over and is selling it because of the borrower's default. It isn't quite the same as the foreclosure term in the U.S. and buying a POS property is much more straightforward. In turn, however, POS listings aren't very common, despite the recent/current market downturn.