Ontario Tax Sale Property
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Maximum Deposit Amounts
Chapter: BIDDING
dogbone
Can your deposit be more than 20% of the bid price? I know you don't want to be lower than 20% but are you allowed to deposit more, like any amount higher than 20 %.
gap
Yes - the rules say 'at least 20%'. Watch for rounding off and the decimal point...I always add a few dollars above my 20% just in case my calculator is off and I've missed it. You could lose out for a fraction of a cent! Better safe than sorry.
RichD
You could submit a check for 100% of your bid if you like. The down side to doing this is if you win and decide you made a mistake and you don't want the property your out a lot more money then if you keep it to just over the 20% mark. Not a good situation either way but I'd rather risk loosing 20% of my bid then 100%.
Frank
Yes, you must submit 20% or more - make sure you are over a little bit.
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