Ontario Tax Sale Property
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Auctions Vs Tender Process
Chapter: GENERAL QUESTIONS
Lisr
Anyone know about tax sale auctions. They say you have to pay in full that day by certified chq, or cash, etc. Who carries that much cash and how can you get a certified cheque when you don't know how much you will be paying for the property you are bidding on? Who knows how this works?
royster
The tax auctions in Huron County have required you pay full amount of sale at time of auction. So if you think your max bid would be 15,000. Bring a certified cheque for 15,000. If you win the property for less, they pay you back the difference at the time of sale. It is a pain because you have to tie up a lot of cash ( even if it is only for a short time )
Frank
the Municipal Act Tax Rules (regulations) do require full payment at the time of the sale - including any additional charges to your bid, so make sure you bring extra cash along.
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