Ontario Tax Sale Property Forum

Tax Sale Forum => Questions and Answers => Topic started by: buyright on September 25, 2006, 11:41:30 PM

Title: What happens to UNSOLD Properties
Post by: buyright on September 25, 2006, 11:41:30 PM

I was @ the Port Colborne Sale today
What happens to the 4 unsold properties ?

Thanks
Dave

Title: Re: What happens to UNSOLD Properties
Post by: Rob on September 25, 2006, 11:43:07 PM

They go directly to the city and they can then sell them as surplus, or keep the land as they see fit.

Title: Re: What happens to UNSOLD Properties
Post by: buyright on September 25, 2006, 11:47:49 PM

Do they advertise, and if so where ?

Title: Re: What happens to UNSOLD Properties
Post by: Rob on September 26, 2006, 01:15:13 AM

Many times they sell the property for market value, many times they keep the property (Metro Hall was surplus at one time).  They redraw deeds and rezone and sell to developers at times.  At times real estate agents sell property for them.  Check the city website you want to buy in and see if they have any surplus property they are selling.