An order for sale is a court order that allows a property to be sold to satisfy a debt. It is typically used when a borrower defaults on a loan and the lender wants to recover the money that is owed. To apply for an order for sale, the lender must file a petition with the court. The petition must include information about the loan, the property, and the borrower. It must also state the amount of money that is owed.
An order for sale can be a powerful tool for lenders. It allows them to recover the money that is owed to them and to sell the property to satisfy the debt. However, it is important to note that an order for sale can also have a negative impact on the borrower. It can force them to sell their property and can damage their credit. Therefore, it is important to seek legal advice before applying for an order for sale.