Ontario Tax Sale Property Forum
Tax Sale Forum => Questions and Answers => Topic started by: gap on May 25, 2006, 05:20:33 AM
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I just bought a tax sale property in Ontario. It was a little house on a large lot in a small city. Assessed at 4X + the amount of the minimum bid. I got it for a little over the minimum bid. I thought it was a good deal. I did try to do as much DD as I could. Spoke with an agent: checked out value (only variable was the interior parts she couldn't see through the windows. Spoke with the tax lady: small city, nice lady - she said the title had been searched and it was all clear. Does this mean it's clear?
Do I still owe for taxes or other liens?
HELP?
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Sounds like that should be free and clear. I'd go over this weekend and start planting because it is going to be a beautiful weekend.
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Sounds like you made out all right. Congratulations on your purchase. Keep us posted as to how you make out. :)
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Well, hello again. The tax property I was referring to was a tax sale in a small city in eastern Ontario. The house is a fixer upper all right, but I have a great carpenter who can do almost anything quickly and efficiently at no cost, so I'll fix it up. I already know that houses (in better condition) in the area sell for just under $100K, so I did good! (bought for around $12k all told, with about 8k of renos to make it rentable, which I'll probably do. Following the Rich Dad principles, I have been dabbling in real estate. So far, so good. It's been interesting and eye-opening all at the same time. I can't believe how much I've learned, and how much money I've made so far. And, the opportunities keep opening up.
Anyways, I'll be fixing up and renting this out for great cash flow....so keep posted. This tax sale stuff really works.
Regardss!
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Hey Gap, sorry to drudge this one from the bottom, but I was just curious how this opportunity panned out for you?
Any un-expected glitches?