Messages

1

Questions and Answers / Re: Bidding Strategies for Tax Sales

« on: November 05, 2008, 11:48:37 AM »

Double!  If that's the case maybe I should stick with tax sales because there must be some GREAT bargains out there.  But I guess once they pay for the land, associated fees, run a company and put out a catalogue it would probably work out to double.

Matt

2

Questions and Answers / Re: Bidding Strategies for Tax Sales

« on: November 04, 2008, 11:03:58 PM »

Farrouk, thanks for the tip.  I have looked at Dignams land and considered purchasing it.  I wonder what kind of bargains they get at tax sales in the far north?  Do you have any ideas about how much they mark up the property they purchase before putting it in their catalog?

Thanks,

Matt

3

Questions and Answers / Re: Bidding Strategies for Tax Sales

« on: November 04, 2008, 12:36:51 PM »

Thanks for the great advice guys.  Never having bid myself I didn't take into account the extra costs.  Additionally I thought I would mostly be buying site unseen since it is so far from my home.  I appreciate the advice and I'm starting to wonder if it would be safer buying privately vs. a tax sale, it seems the little extra cost may be worth it to avoid the hassle and the potential for liability.  All I ever wanted was a piece to vacation on/retire to.  It's too bad I can't just pay someone to work the tax sales for me.  I would save over market value and the person I'm paying would make some cash doing the leg work.

Thanks again,

Matt

4

Questions and Answers / Bidding Strategies for Tax Sales

« on: November 04, 2008, 12:24:49 AM »

As I mentioned in my previous post I'm looking for a large acreage in the Cochrane area.  If a tax sale were to come up on an ideal spot I'm just wondering how I should bid?  Is there a strategy people employ?  I would tend to think the property would not be highly sought after so maybe I could just bid the minimum bid +$1 (in case someone else bid the minimum bid).  Or would I be more succesful overall bidding say 20% more than the asking price?

Your thoughts are greatly appreciated.

Matt

5

Questions and Answers / Tax Sales Risks

« on: November 04, 2008, 12:21:00 AM »

I've been reading the forum and it is very informative, I think this is something I'd like to do.  I'm interested in properties quite far north, like 150 acres of bush in the Cochrane area, for a getaway for my family.  But after reading about all the risks I feel slightly uneasy.  I would like to ask the experienced tax sales hunters out there to please give me there opinion on the following question:

What are the odds that I will run into legal issues or problems after purchasing the kind of acreage mentioned above?  Are the odds very slim?  Are these types of problems more likely to happen when purchasing commercial lots in the city? 

Thanks!

Matt

6

General / Re: Country Acreage Tax Sale

« on: November 02, 2008, 09:59:26 PM »

I really appreciate all the responses everyone.  Excellent advice.  I'm going to continue reading and try to find some tax sales.  I really only need one good one, since I just want a nice spot to vacation too.  It does seem kind of exciting though, to bid and wait for the result.  I know you can't really get rich with these things but it's always nice to have a place to get away too.

I also appreciate the advice on the realtors, I've only bought two homes in my life and I feel like they would have the upper hand, knowing all the ins and outs etc.  But I have a feeling with the help of the people in this forum that won't be the case.

Thanks again,

Matt

7

General / Country Acreage Tax Sale

« on: October 31, 2008, 11:41:27 AM »

My wife and I have wanted to buy some country acreage for some time, something like 150 acres in the Cochrane district.  Would this be something you would find in a tax sale typically?  Or would there be a better avenue to follow?  I vaguely recall hearing about land auctions held by the government.

Any help you could offer would be appreciated.

Matt