Ontario Tax Sale Property Forum

Tax Sale Forum => Announcements => Topic started by: Dave2 on May 05, 2015, 10:56:25 PM

Title: Lots of Game (i.e. opportunities) out there
Post by: Dave2 on May 05, 2015, 10:56:25 PM

In case you haven't noticed it there is a lot of game out in most areas of the province.  The only thing I can say for sure about tax sales is " If you do not bid you do not win"  ;)

Sometimes I think we are too negative about tax sales as we only worry about the bad things that can happen.  Yes they are real and yes we have to do our due diligence to avoid them.  (I feel so sorry for the people in Kawartha lakes that did not do their title searches and will owe Revenue Canada a lot of money. They may owe Revenue Canada 10 times their original investment.)

There is also an upside that sometimes can work in your favour when you buy as they say property "as is"  Case in point for me recently when the property I bought (at a tax sale) which everyone  thought was 100 acres actually turned out to be 111 acres when my surveyor finished with it.  

Of course if you want to live on the wild side you can always go after a property that is not in land titles.  You know those ones that have a (R) designator after them; the so called R-pins.
Checked one recently and even the registry office did not know why it was not in land titles.   ???  

Even Tri-Target and OTS refuse to handle them.    

Title: Re: Lots of Game (i.e. opportunities) out there and Lots of DOGS
Post by: Pfm1011 on May 07, 2015, 05:59:58 PM

The one thing that everyone should do is go to Tri-target and look at their results.  There is the reality of this game ,. 95% cancelled or redeemed and then a pile of no valid as the land isnt worth the outstanding


Every bid cost me a couple hundred after couriers titles gas etc plus time... You have to pick your bids and expect the vast majority to be waste of time. Also the winning bid  has to cover all the losing bids ..

I do no title checks etc till one or two days prior

http://www.tri-target.com/taxsaleresults.php

As per Kawartha..Did the buyers of the commercial lot not do a title search??  That had  2 NEW crown liens totalling 370K registered Dec 1 , 2014 . CRA liens are as real as it gets.

Did someone just learn an expensive lesson about the perils of tax sales?