Processing properties for Tax Sales
Taxes must be in arrears for a minimum of three years before the property is registered for Tax Sale. It must pass through public process for one year before a public sale may occur.
During this process;
* Notices and declarations are prepared for final notice.
* Advertising for the sale must be place in the Ontario Gazette for one week
* Advertising in the local paper, The Stratford Beacon Herald, must be done for a period of four consecutive weeks.
* After the four week advertisement, submissions are to be provided by public tender, to minimum bid.
* If no one submits to the minimum bid, the City has the option to vest the property in their name.
* If there is a successful purchaser, the sale is processed as general real estate transation to be closed 14 days after the tender opening.
The following properties are being advertised for sale through public tender;
Investing In Tax Foreclosed Properties A penny saved . . . is a cottage lost