Messages

1

Announcements / Re: Zorra Tax Sale

« on: July 17, 2012, 03:13:36 PM »

Spoke with the Treasurer again yesterday regarding another matter and I asked about this while I was on the phone and he did come in and pay so the tax sale has been cancelled.

I was actually hoping to meet a few people from this board at the sale but maybe another time.

2

Announcements / Re: Zorra Tax Sale

« on: July 12, 2012, 02:09:31 PM »

I was speaking with the Treasurer of Zorra yesterday and they have had discussions with the owner and he is planning on bringing in a certified cheque for the entire amount owing on Monday. We shall see if that happens - but I'm not overly surprised as the property is well kept.

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Announcements / Re: Zorra Tax Sale

« on: June 25, 2012, 04:52:49 PM »

I guess they heard me say that the minimum amount was too high! lol

4

Announcements / Re: Zorra Tax Sale

« on: June 21, 2012, 03:11:24 PM »

I actually live in Zorra township and new about this from the local paper but I was surprised that it didn't go in the Ontario Gazette. Nice property but no use to me personally at that price.

5

Announcements / Re: New Members - Approval

« on: June 12, 2012, 04:39:20 PM »

This sounds like a wonderful idea Rob! Keep up your great work!

6

General Discussion / Re: Utilities???

« on: November 02, 2011, 02:22:46 PM »

"Question also why the utility did not collect from the deposit."

The answer to this is the new regulations that have come out state that if arrears are owing on utilities they must first be applied to the hydro and then the water and sewer charges (including security deposits). Also, as you stated the amounts are generally small and sometimes it isn't worth the effort to go through when putting them on the tax roll. Especially if the municipality that collects water and sewer does not own the hydro companies doing the collecting (which is the case where I work). However, I am now working with the hydro companies to get the information over to us and then sent down to the local area municipalities to add these amounts to the tax roll.

As for the question regarding the statute of limitations being 2 years...without looking at the actual act I would imagine that there is an exception for this type of thing.

In response to sprinters earlier question, the municipality could take those amounts owing out of the surplus - that would be my suggestion to them!

David

7

General Discussion / Re: Utilities???

« on: November 01, 2011, 02:28:27 PM »

Municipalities are permitted to add them to the tax bill I believe under legislation that was passed by the Liberal government a few years ago (I don't have the specific legal reference), but presumably they would be included in the minimum tax sale bid required. ( not certain on legislative details)


Dave2 is correct on this - Municipalities have the ability to add utility costs to the property owners tax bill (this power is designated to them through the Municipal Act 2001. And from my experiences on the Municipal side of the tax sale part is that is commonly what is done, including the related interest charges on those utilities.

David

8

Property Information / Southern Bruce Peninsula

« on: October 28, 2011, 07:15:55 PM »

Does anyone have information on the lot in Oliphant?

All that I have found so far is that the water levels have been falling greatly over the past couple of decades and that it is really hurting the livelihood's of many people living there.

Any other details would be great.

Thanks,

David

9

Property Information / Re: Innisfill Results?

« on: September 16, 2011, 07:27:41 PM »

My opinion would be to have it so that to view that area you have to be a member with at least 1 post. I am not a frequent poster on this website as most of the time I have nothing to contribute (unless someone has accounting related questions).

The thing is I am a young guy with my Chartered Accountants designation that is learning this business in my spare time and currently do not have the extra cash flow to not be an avid participant in tax sales. However my goal is to learn as much as I can (and have over the last couple of years) so that when I have the cash flow I can jump right in when properties in my area come up.

10

Announcements / Re: Township of Zorra Tax Sale

« on: June 06, 2011, 01:37:34 PM »

Thanks for the info PFM.

Yes that is the property in Harrington, I know it without the need for a drive as its quite the eyesore!

It was just a house, never was it a gas station so I had guessed that the underground tanks were for heating oil, I never thought that it could be water tanks.

The margin is so low here that I think I will let someone else take it on. Harrington isn't exactly a popular destination for new homes.

If anyone from this board is planning on attending let me know as I will likely slip over to watch the opening and wouldn't mind meeting some of you.

11

Announcements / Township of Zorra Tax Sale

« on: June 02, 2011, 03:35:43 PM »

The Township of Zorra has a tax sale coming up in the village of Harrington for a property with a collapsed septic system and according to the write up there are likely underground storage tanks (I would imagine Oil but it doesn't specify).

Does anyone have experience with this sort of clean up and would TSSA automatically get involved?

The unfortunate part is that the property is only worth around $30k at best and the minimum is $10,500, so to make any sort of profit the cleanup costs would have to be small. The only reason I have interest is that it is about 10 minutes from where I live and there are not tax sales in this area very often.

Thanks in advance for the help,

David

12

General Discussion / Mortgage Holder

« on: April 05, 2011, 06:57:46 PM »

I was wondering what is the easiest and most cost effective way to find out who holds the mortgage on a specific property (is the Registry office still the best way).

Thanks,

David

13

General Discussion / Ontario tax sales website

« on: September 30, 2009, 04:44:19 PM »

Do they no longer update for properties that were up for tax sale but later redeemed or cancelled? Specifically i noticed that a property for Huron County tax sale Oct 6 is shown as redeemed on the county website, but not on Ontariotaxsales.ca.
Anyone else notice this issue?

14

Property Information / Re: Anyone want to join my bid on Northern Bruce Peninsula

« on: August 21, 2009, 02:44:00 PM »

I spoke with the planning department the other day about this property. (They must be getting a number of calls on it as they have a PDF package that they will email out to anyone interested). To sum up the package, it clearly states that the lakefront cannot be subdivided into lots and sold off as the lake is already overbuilt and would not be able to handle more properties. My next thought was that many acres would be valuable to log. However, using google maps it would appear that the area was logged out at one time and my guess is they took all the good maples out, leaving little value to the land. (Although i have not been up to look at it).

15

Questions and Answers / Re: HST for land?

« on: April 06, 2009, 04:36:17 PM »

Speedfreek,

As i see it this was one of McGuinty's best moments. The idea of the HST is that business will be allowed to claim that all back, whereas now they only get the GST and a the small PST rebate. The idea is to make businesses more competitive and attract other businesses. This is also done by the reduction in corporate taxes.
This will also allow them to save costs as everything will be handled by CRA, much as they have recently done with corporate taxes.