Messages

1

General Discussion / Co-Bidders

« on: December 21, 2016, 10:06:25 AM »

Dave,

Your last post gave me an idea about co-bidders. If anyone would like to co-bid, I'd be interested to meet up and discuss vision and possiblity of this. You can email me at [email protected]. my record is I've bid about 22 times so far and have one tax sales property so basically looking for cheap stuff just like anyone here haha. Also willing to learn from pros so please contact.

Ray

2

General / Re: Seasonality!

« on: December 09, 2016, 04:02:41 PM »

Life is a big circle, eh! tax sale --> booty --> tax sale! And, then I see a former hotel called Big Bird Inn in Wawa.. meh! Not worth it.

3

General / Seasonality!

« on: December 08, 2016, 02:46:05 AM »

So the last 4 weeks have been depressing as there is no advertised tax sales. So, what do you guys do when it is a waiting game?

4

Announcements / Re: Trent Hills results and upcoming legislative changes

« on: November 25, 2016, 10:01:11 PM »

Read this on Bill 68.. anyone has more information on this?

Amendments are made to sections 371 to 388.2 of the Act, and new sections are added, to reduce the time that property taxes have to be in arrears before a municipality can start a tax sale and to make other changes to the process. Expedited timelines are provided for the sale of corporate property that has escheated or forfeited to the Crown. Various amendments relate to the coming into force of the Forfeited Corporate Property Act, 2015. (see sections 343 to 364.2 of the City of Toronto Act, 2006)

5

Announcements / Re: Dry Cleaning - Contaminated?

« on: November 25, 2016, 02:21:14 PM »

I guess some fool did bid on it. Here's the result:

425 Pinedale Road, Gravenhurst
Minimum Tender Amount: $28,000.07
2 tenders, sold for $46,200.00

I'm surprised at this one! I really am -- especially after seeing the building because it was not only burnt partially and left alone for 5-6 years but also had chemical contamination as per MOE. Now, someone knows something that we don't.. well, I wasn't ready to pay the price of knowing I guess.

6

Announcements / Re: Dry Cleaning - Contaminated?

« on: November 16, 2016, 11:51:05 PM »

Always like to learn.. not so much buy.. LOL!

Found out from Ministry of Environment that the clean up costs could be in millions.. a nasty surprise for the new owner or the township! What amazes me is that if you're in this business, you could just make all this money from these operations and leave the building for the town to clean up and declare bankruptcy! it's insane how the town doesn't go after you or doesn't have the power to go after you except for taking possession of a property that they don't want.

7

Announcements / Dry Cleaning - Contaminated?

« on: November 16, 2016, 03:25:18 AM »

Saw a property in Gravenhurst today that is a commercial building and was used as a laundromat for several years. Notes in the package says that the building could be contaminated. Any experiences anyone with such buildings? Worth exploring? Obviously I googled contamination clean up costs from dry cleaning and it comes out to be in millions so no thank you but I'm wondering if there is any way of determining from the outside how bad it could be inside.

8

Announcements / Re: No Sherriff Sales this Week

« on: November 16, 2016, 03:22:56 AM »

I've never been to the sheriff sales so would be interesting to see how that goes but good man Dave for posting these.

9

Announcements / Re: No Sherriff Sales this Week

« on: November 13, 2016, 09:43:03 PM »

Have you been successful in sheriff sales before? Are they worth exploring?

10

General / Re: Kawartha Lakes

« on: November 09, 2016, 03:28:35 PM »

Be very careful. Mountainman speaks the truth! I was researching another CRA related tax sale property and turns out they have offices but they are NOT open to public. So now, if you did buy a property at tax sale, you will receive a letter in the mail to pay the amount owing without a real chance to negotiate before or after the tax sale, so don't be so smart to think you will be able to negotiate with CRA or any other crown lien for that matter. This is very difficult, interest accrues and won't let you sleep at night.

11

General / Re: Tax Sale Result - and more ...

« on: November 09, 2016, 03:25:13 PM »

I was just as surprised when I saw a church up for tax sale. Turns out It was privately owned for several years and was shut down. The owner tried to start a business out of it and failed a few times and Alas - tax sale. I would be very worried about the fixes you would be responsible for when you buy a property like a church that has not been touched up for years. On top of that, not sure if this is a heritage building but if it is there is a whole set of rules that apply. Better to do a full search before you go church!

Dave2,

Thank you for your reply, I  still do not understand why they would not reveal the amount of the winning bid. Ontario Tax Sales does not post all the tax sale results that they advertise, do you know if this is the reason why? One last question, if after giving it some time the Treasurer will still not tell me the winning bid amount what are the options (if any) that i have in finding out.

Thanks again,

Mozzy

The simple answer is: there is no law against the Treasurer from NOT telling you what the winning bid amount is although most of the Treasurers, from my experiences, were "nice" enough to have told me the results regardless me being one of the bidders or not. One of the options I know to find out the winning bid amount is to wait until the deal goes through the system so you can then find it out from places such as mpac. If you were referring to legal options, there is none.

Tax Sale is a very grey area of the law in my opinion. Other than a few clear-cut fundamentals, you almost can't find clear-cut answers to most of the questions/issues anywhere until those questions or issues practically become yours. And then you will have to pay a lawyer, who likely knows no better than Dave2 on tax sale, to "study" and figure out which law, if any, applies.

For discussion, knowledge-seeking, purposes, here are some recent happenings:
A church for tax sale? - ain't churches exempted from paying property taxes? (well, I do have a guess but wanna hear what others have to say)
Several independent properties have to be bid altogether dependently? - is that even legal?
I discover a few former tax sale properties not sold at tax sale but are now titled to private owners with no open market sales records. - legal? anything fishy?
I know there were discussions about making your own form 7 to save money from cities like Toronto or Mississauga. - Toronto said OK while Mississauga said NOT OK. so?

12

General Discussion / Re: Water Bill After Tax Sale

« on: October 27, 2016, 07:31:51 AM »

Thanks for the resources! I took your advise and I was able to convince the tax collector to drop this bill after my polite argument that tax bill should be the last and final of what k should pay. To my surprise they agreed and dropped it. Woohu! Yes and I am super thrilled it was not a grow op. That would have taken me down big time. The water bill was $1300. Thank you so much guys!!!!

13

General Discussion / Water Bill After Tax Sale

« on: October 23, 2016, 09:31:47 PM »

So I won a tax sale after almost a year of bidding and title was settled. After all, I get a water bill from the municipality for the previous owners usage. I was under the impression that the account is all wiped out and we start fresh? Not true? Any input is greatly appreciated.

14

Questions and Answers / Re: Execution searches

« on: September 07, 2016, 02:15:58 AM »

As far as I understand is that they can't go behind you personally but if you don't pay TD they have the power to sell it and revive the amount. Correct me gurus?

15

General / How far would you go?

« on: August 29, 2016, 05:30:20 PM »

Now that some of the tax sales are coming up for towns and cities I have not even heard about, my question is HOW FAR! How far from your home town would you go to participate in a tax sale? Also, how far have you already gone? There is a tax sale in Atikokan at the moment that is 16 hours from me. If this was atleast 5-6 hours, I'd have participated but 16 seems to excessive plus one would have to stay there and get the whole thing sorted out before you return home. Doesn't sound like its something that a person with a "job" can ever do. Thoughts?