BC Tax Sales?

[raylak]

I participated in Kawarthas and in Bracebridge and find that the Ontario Tax Sale Buyers are way over their head atm. Anyone looking at Out of province Tax Sales? Anyone has experience in the upcoming tax sales in BC? They seem to have an annual auction process in september and this might be the right time to start doing some research. Unfortunately, all counties and cities hold the auction at the same time so you can only attend any one of them and there doesn't seem to be a tendering process. Pay all cash at once but still wait a full year or two before it is redeemable. Would love to know if anyone has any experience with this?

[Dave2]

I participated in Kawarthas and in Bracebridge and find that the Ontario Tax Sale Buyers are way over their head atm. Anyone looking at Out of province Tax Sales? Anyone has experience in the upcoming tax sales in BC? 

Ray:

If you are planning on going out of province I suggest you look one province east from B.C. to
Alberta.  Two reasons:

I believe simpler process.

People tend to forget that for properties to get to tax sale takes time.   Lower Mainland BC still booming so I expect a lot of redemptions.  Alberta oil prices collapsed a year ago so they are a year ahead of BC.   Ray's ranch has a nice ring to it. 

Rob of course is better qualified then me to talk about Alberta.   

Dave2

[raylak]

Haha! That's very inspiring of you, Dave! So I did some research and to participate in Alberta you really have to be there like all the time. No tender process. All auction and final sales. Sounds great. I guess distance makes it very tough. Plus they don't seem to release the bid price online. I did however found that they keep prices at market price as much as possible which kind of defeats the purpose of tax sales.

[Dave2]

Haha! That's very inspiring of you, Dave! So I did some research and to participate in Alberta you really have to be there like all the time. No tender process. All auction and final sales. Sounds great.  

Ray:

You will get your ranch yet.   The problem with tax sales is we all (including myself) are like big babies.  We don't want to do any work, pay only minimum price and have a guarantee that everything we buy for a song is worth a fortune.  It doesn't happen anywhere in Canada.  They say a picture is worth a thousand words and it shows how we want tax sales to run.   

[Rob]

Haha! That's very inspiring of you, Dave! So I did some research and to participate in Alberta you really have to be there like all the time. No tender process. All auction and final sales. Sounds great. I guess distance makes it very tough. Plus they don't seem to release the bid price online. I did however found that they keep prices at market price as much as possible which kind of defeats the purpose of tax sales.

The Alberta market is down and undervalued.  Great buy/hold opportunity.