Ontario Tax Sale Property Forum
Tax Sale Forum => Questions and Answers => Topic started by: Pawel on May 31, 2007, 05:50:22 PM
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I have been calling around to people who perform title searches and real estate lawyers to obtain quotes. I have been quoted anywhere from 40 dollars to 250 dollars (approx.) Can anybody let me know what a reasonable amount is? Also, I am more tempted to go through a lawyer because their information is legally binding. So any thoughts on that would be appreciated. Finally, Can I ask for only a few specifics of the title search? (ie. just information about liens and anything outstanding?) I figure that way I may be able to save costs. There are some fairly smart people on this site so hopefully somebody can inform me...
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does anybody know?
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A lawyer will charge you anywhere from 50 to 800 dollars. But there are sites that are offering title searches for 40 dollars.. and they are the same title search information. But go with who you are comfortable with. That could be a lawyer, online site or local searcher.
Finally, Can I ask for only a few specifics of the title search?
A title search doesn't give you as much information as you may think. The quick answer is no, but who knows, people offer all sorts of products on the market.
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Don't forget that once you do win the bid you will need a lawyer to prepare a document stating your legal name and the amount you have paid for the property. For me this cost about $175 when I had to do it.
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Don't forget that once you do win the bid you will need a lawyer to prepare a document stating your legal name and the amount you have paid for the property. For me this cost about $175 when I had to do it.
I'm not saying that hiring a lawyer to protect your interests in land deals is not a bad idea. But, in the case of tax sales you really don't need one. The municipality does everything, and all you need to do is sign the land transfer tax affidavit - with your name on it. Hiring a lawyer to tell what your name is seems redundant to me. When you by a tax sale property, there is no due diligence after the sale since you should have done it all before you put in your bid. I've done three tax deals and haven't spent a penny a lawyer in any of them.
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I just won a property for the St. Catharines Tax Sale. It's my first tax sale property. The city sent me a letter requesting the remaining balance and I have already forwarded my payment. But it also asked me to have my own lawyer to call their legal services in the city to register the tax deed electronically and complete a land transfer tax statement. Is there anyone has similar experience after they won a tax sale? I called few lawyers and they quoted me for around $1000 just to get the title registered and $320+ per hour if additional documents are needed. I should have few more lawyers returned my calls next week. Any good recommendation of lawyer who knows tax sale? It is just worrying that I needed to explain what is a tax sale to the legal secretary when I called those lawyers' offices.
I did all my title search and executive search in the land registry office, hope it can save some money unless the lawyer wants to do it again by him/herself.
I understood that all previous liens are dropped unless it is from the Queen or zoning or city regulation or etc., however, who is responsible to do this task? I hope the city will do it, otherwise it will be another legal cost to be paid. Is there anyone having similar experience? Thanks.
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In regards to tiltle searches etc. I use ontariotaxsales.ca costs between 90 and 120 for the full title package the catch, you have to pay 100 to join but you will save that amount on the first search versus using a local lawyer so well worth it. Package is more then just the title search, full deed and surveys etc are included. Does not cover zoning etc , so dilligence is still required
In regards to the tax deed in St Kits , It should be the citys lawyer who does it all as part of the tax sale. Double check with them but you should not have to spend anything.
Just for interest..what did you buy, what did it cost you??
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The city sent me a letter requesting the remaining balance and I have already forwarded my payment. But it also asked me to have my own lawyer to call their legal services in the city to register the tax deed electronically and complete a land transfer tax statement.
You do not need a lawyer. The City Treasurer is obligated to issue you a 'tax deed' for the property. It is up to them to prepare the documents and register them. All they need from you is information such as your name, date of birth, etc.. and for you to sign the Land transfer affidavit - which they have to register. I would take them to task on this. This sounds like their legal department saying, hey let's get him to get his own lawyer to make our job easier.
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Thanks for the info. I am going to give the city legal services a call then asking them to perform the task to match up with other towns and cities. I got it for $30,007. 15 1/2 hillview road north. Assessed value is $58,000. It is a small lot and house for me to start learning. It should be a vacant house for years as I talked to a neighbour after I won the bid. The ex-owner used it as a vacation home. I will get a contractor to break the lock after I got all legal documents finalized. I may also send a notice to the ex-owner, or his legal representative, informing him the possession. He may likely pass away with a birth year in the 1910s.
I am sure I will have more questions along this learning path, but I feel great to be supported by all of you. Thanks.