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Property Information / Re: Peel Results
« on: May 06, 2011, 05:49:47 PM »
City of Mississauga is heartless--85 yearold lady out the door--Hazel the witch is a monster.
Few years ago,the interest penilty was 3 1/2 5 fixed by legislation. This bagof****,started a push for higher interest rates and on the bases that interest rates for loans were 8-10%,why should owners not pay taxes and in stead invest the tax oweing. Well,Ontario changed the interest rates--get this, now that interest rates are lower,the witch is not demanding to lower them
On the first day of default--the city whacks a 1 1/2% charge and there after each month 1 1/2% COMPOUNDED on the added interest example owe $5000 x .015=$75 next month $5075 x.015=$5075 +76.13=$ $5151.13--after 3 years..... god help this poor old lady--not Witch Hazel :^/
Few years ago,the interest penilty was 3 1/2 5 fixed by legislation. This bagof****,started a push for higher interest rates and on the bases that interest rates for loans were 8-10%,why should owners not pay taxes and in stead invest the tax oweing. Well,Ontario changed the interest rates--get this, now that interest rates are lower,the witch is not demanding to lower them
On the first day of default--the city whacks a 1 1/2% charge and there after each month 1 1/2% COMPOUNDED on the added interest example owe $5000 x .015=$75 next month $5075 x.015=$5075 +76.13=$ $5151.13--after 3 years..... god help this poor old lady--not Witch Hazel :^/

Seems that if it is left alone for the purchaser,if it is delayed and not registered,the actual defaulting owner can pay the tax owing before registration and the city can not claim the extra money added to the final bid price.
Dumb people own it--Looks like a wrecking yard--(Bruce might be interested in the 100 car wrecks) and houses need repair and occupied. Owners did not pay taxes and in 2009, town slapped $90k.Odd how after 2 years the tax arrears jumped to $120K+.Also the rear is an Hydro wide corridor and appears the greeks built structures on it. There is a possable removable lien on it.Called the township and got nowhere. Lots of luck kicking these folks out and a good chance the lands polluted. I'm told that the area has no industry , since the hat factory closed--area is dead and property taxes are sky high.Anyone know how much it costs to get a soil study done for pollution levels.
Bruce,the first thing you have to do is make sure you got the deed and the RIGHT the property. Speak to the occupier and speak to him nicely and see his intention of moving or see if he is willing to rent. Make sure you keep your distance and have a witness. If the person is a tenant or Previous owner--does not matter.Send a notice and registered letter to vacate and give 30 days. When the 30 days ends and if the occupier does not leave, proceed to the local Ontario Sheriffs office and request eviction notice. Very simple and the rest that department will handle it. Caution: when occupied and the family refuses to leave and is in a smalll community--your new investment might go up in flames- and rest community might hate your guts. Stay away from occupied properties unless you are 300 lbs ,swift on the feet, wrestler and nerves of steel. If you are a city guy and won't move in as resident--expect the house to disappear in smoke