Tax Sale Guide Home
What To Do With My Purchase
Chapter: AFTER TAX SALES
Boytwice
I just wondering, what people usually do when they buy a property from a tax sales? do they resale it for profit? or use it(if land) to build a house, or other purpose?
If i am looking to sell a properties, which way should be better? should i put it on forums? or should i contact a real estate agent?
Pfm1011
ts a mix of keep and flip. I have flipped several but have two I have kept .
I think with most its a flipping game as alot of the tax sale property isnt really worth keeping
In regards to selling , I would post it in the forums here under properties for sale http://taxsaleproperty.org/forum/index.php?board=9.0
Also craigslist and Kijiji first and see what happens. (get ready for a pile of agents trying to get the listing)
If it is vacant land or commercial , you can post it as a have on iciworld.ca (basically its the snakepit) but get ready for 100 agents claiming to "have a cash buyer" just so they can get the listing
If it doesnt sell then get an agent.
If you are busy just get an agent and let them deal with the hassle.
Although I generally consider them to be a subhuman species who eat their young, When you are a seller their greed does work for your benefit .
Additionally an agent might help you understand what the land is worth , Many sellers are way too high in their asking initially. Of course and agent will agree with whatever silly price you ask until they get the listing and then they will drive you down by making up market drop excuses (in their defense , agents would starve if they told everyone what their house is really worth, they would get no listings)
If you need area sales just ask on here and you will get a list
Do everyone a favour, when you post it, If it doesnt have a address include the lot/ concession , assessment roll or best of all the LT pin if you know it.. Nothing worse then sellers who dont give all the details
"lovely acreage near peterborough, call for details" real helpful isnt it
Twinn1
Other options are:
List the property using http://myrealty.ca/index.asp, your property is listed with them on MLS for 0.5% commission plus whatever you pay the other realtor (typically 2.5%) for a total of 3%, you have to do all of the paperwork yourself, arrange viewings, etc...
I have never used them but it seems alright, although with the slow market in cottage country you might be able to find a realtor willing to do all of the work for a total of 3.5-4%, you have to decide if its worth to you.
In the US there are a lot of companies offering flat fee MLS service, this is as close as to that that I could find.
http://www.cottageontario.com/alllistings.html is another free cottage/land listing service, it seems to focus on northern ontario properties but its a free service so its worth listing on there besides Kijji/craiglist.
Third option would be to find the local newspapers and take an ad in each one, that would be the best way as it would get the locals interested in the property, in small towns, word spreads fast.
PMF1011 is correct about craiglist/kijji, when I listed my condo on there I had at least 1 agent call a day, sometimes as many as 5 all promising buyers, cash buyers etc... funny thing is that when I eventually did list on MLS, none of the cash buyers that were promised by those realtors materlized.
Another good option, and I have seen this one used by a few savy sellers is to put small 10 by 10 (or whatever the maxmimum size alloted by the muncipalty) bunky on the property, that way when you list your property, it not just land, rather its land with a "rustic cabin" or a "hunt camp" etc..
A lot of buyers, espically private buyers are unfamilar with the process of building a cottage and the requirements of numerous permits, surveys, septic survey etc... In your case, if you are selling that could be to your advantage. And for the cost of a bunky, weither you build it yourself or get it built, it adds value to your property.