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Author Topic: Tax Sales going mainstream?  (Read 13788 times)
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netpred
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« Reply #15 on: November 25, 2010, 09:06:16 AM »

alot of GOOD properties get de-listed.Spending $69 +PST/GST  on one property is not much but times 5 can be very expensive.  If it's a tax sale--what is VERY important to check--City/Province work orders and FED tax liens.
Any others--don't worry-they get canceled. Better 1st--go pay $10 to the municipal office offering the sale- most give directions,size. aerial photo- then find registery land office. If there is work orders--pay for the file (Instrument #) and check demands. Another CAUTION, alot of these lands are CONSERVATION regulated.You can't do FK all with them or the lot is too small to build. Another DEADLY condition is the property is over tax assessed. Ontario tax sales does show photos of selected properties. I've found out that the municipilty pays for the exposure. Expect alot of competion on such practice. My advice--head to the city--get the package and for god's sake--ask them questions---ZONING Orders Polution concerns Conservation regulated
{:^/

Please note that ALL Crown liens survive a tax sale (not only Federal liens). Further, work orders would not appear as instruments on a title seach - you must request a search of the records of the Building Department (I wonder how many do this). I believe that there is a thread here about a bidder that had to demolish the house that he had won and is now stuck with a lot that cannot be built on. Finally, very few Municipalities will provide complete disclosure on tax sale properties because they are not obliged to do so. Once they elect to provide more than the required information, they are potentially open to liability.

There are other issues as well, for example easements that have arisen before a tax sale will survive the tax sale. The points about Conservation Authorities have been made before. The point about a septic system is well made. I recently pulled back on an attractive property for this very reason.

Asking questions is not enough - you must conduct your own research and look to a number of sources. This is especially true when submitting a substantial bid.
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