Ontario Tax Sale Property Forum
Tax Sale Forum => Announcements => Topic started by: Larry on September 13, 2010, 03:44:03 PM
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7 South Oval in Hamilton is on again. Does anybody know what's the story?
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It looks like it is rented out to McMaster University students so there's got to be sufficient funds to pay the taxes. There are no adverse claims against the title (as of when the property went up for sale in the spring)
Most likely the sale will be cancelled.
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Anybody know about the other house? 68 Seven oaks drive? Looks like it's still occupied. Redeemer?
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Where are you guys seeing this? Which edition of the Gazette?
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Where are you guys seeing this? Which edition of the Gazette?
City of Hamilton web-site 8)
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For the record, I'm not interested in any properties in Hamilton., but you guys have me confused.
(Which admittedly, isn't a difficult task to accomplish.)
Are you saying that there's a property at 7 South Oval in Hamilton, that sold for taxes owing in the spring of this year, and is up for sale again for taxes owing?
How could that be possible?
Or did it not sell for whatever reason in the spring and therefore is up again?
Bruce
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For the record, I'm not interested in any properties in Hamilton., but you guys have me confused.
(Which admittedly, isn't a difficult task to accomplish.)
Are you saying that there's a property at 7 South Oval in Hamilton, that sold for taxes owing in the spring of this year, and is up for sale again for taxes owing?
How could that be possible?
Or did it not sell for whatever reason in the spring and therefore is up again?
Bruce
Based on the City of Hamilton website, and looking at older Tax Sales, it appears that #7 South Oval was listed/posted earlier this summer (actually, in the spring) for slightly less than it's currently posted at. That leads me to believe that it was either redeemed or delayed by the owner and wasn't actually sold during the original listing, or whoever won it in the spring didn't pay up and it's back in the pool.
*edit*
Actually, in digging a little deeper it looks like it was cancelled before the sale when it was up in the spring. I guess they never came through with the money in the end, or something must have come up, which is why it's re-listed... I wish I has some more experience and a little capital, I'd probably go for this one.
*edit2*
Either I'm getting better at this or it's too easy... Anyways, it looks like 7 South Oval was also posted for tax sale towards the end of 2009 and was subsequently cancelled. I'm kind of curious exactly how and why it can go up three times and be cancelled each time (well, it hasn't been cancelled this time - yet). Doesn't the owner have to pay up to cancel? Wouldn't the city have made their money by now?
Out of curiosity, why is it that Hamilton has posted these on its website and not in the Gazette? Aren't tax sales required by law to be posted in the Gazette? Are they just going to put it in at a later date or something?
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What is the confusion about 7 Oval. Last year it was redemmed and will probably get redemmed in Oct.
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What is the confusion about 7 Oval. Last year it was redemmed and will probably get redemmed in Oct.
It could not have been redeemed last year and be up for tax sale this year. A property must be at least 3 years in arrears before tax sale proceedings can be instituted. So if taxes were paid up last year, it could not be up again this year.
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Often times, the owner comes in and promises to pay...the act allows for a two year extension...however, in many cases, they fail to hold up to their end of the bargain, and it goes back on the block.
Second scenario, the City finds out at the last minute that there has been a mistake made in the process and cancels it...then puts it back up with a higher minimum in the next sale.
Scenario three...a City Councillor comes screaming into the Treasurers office and begs him to do his taxpayer (no pun intended) a favour and delay the sale..there is a big windfall coming from an estate settlement, and this will surely get cleared up...but of course it doesn't.
Scenario four...they find out that the house is occupied by a widow living on social assistance, and they don't want to be seen as throwing this poor lady out of her house (oh and she also has a handicapped forty year old son she is caring for). A year later, she passes away, and the son is put into a care facility.
There are numerous possibilities, and only the tax collector knows the real reasons.
For the record, I'm not interested in any properties in Hamilton., but you guys have me confused.
(Which admittedly, isn't a difficult task to accomplish.)
Are you saying that there's a property at 7 South Oval in Hamilton, that sold for taxes owing in the spring of this year, and is up for sale again for taxes owing?
How could that be possible?
Or did it not sell for whatever reason in the spring and therefore is up again?
Bruce
Based on the City of Hamilton website, and looking at older Tax Sales, it appears that #7 South Oval was listed/posted earlier this summer (actually, in the spring) for slightly less than it's currently posted at. That leads me to believe that it was either redeemed or delayed by the owner and wasn't actually sold during the original listing, or whoever won it in the spring didn't pay up and it's back in the pool.
*edit*
Actually, in digging a little deeper it looks like it was cancelled before the sale when it was up in the spring. I guess they never came through with the money in the end, or something must have come up, which is why it's re-listed... I wish I has some more experience and a little capital, I'd probably go for this one.
*edit2*
Either I'm getting better at this or it's too easy... Anyways, it looks like 7 South Oval was also posted for tax sale towards the end of 2009 and was subsequently cancelled. I'm kind of curious exactly how and why it can go up three times and be cancelled each time (well, it hasn't been cancelled this time - yet). Doesn't the owner have to pay up to cancel? Wouldn't the city have made their money by now?
Out of curiosity, why is it that Hamilton has posted these on its website and not in the Gazette? Aren't tax sales required by law to be posted in the Gazette? Are they just going to put it in at a later date or something?
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One further point regarding the Hamilton Web-Site. They must also post in a local paper and the gazette...and they do. They go beyond what most municipalities do and provide an excellent data base of information on their web-site...I have to give a lot of credit to them...I wonder who's idea it was in the first place 8)
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Thank you Frank as usually you are bang on!!:)
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Looks like Hamilton is again starting to cancel tax sale listings. They have now cancelled properties 04 and 10 from the tax sale. Best to keep an eye on them for more cancellations:
http://www.hamilton.ca/CityDepartments/CorporateServices/FinanceBudgetTaxes/PropertyInformationTaxes/TaxSaleProperties20101005.htm (http://www.hamilton.ca/CityDepartments/CorporateServices/FinanceBudgetTaxes/PropertyInformationTaxes/TaxSaleProperties20101005.htm)
7 South Oval is still available if you don't mind being across the street from a busy Tim Hortons. On the plus side though, Westdale tends to keep property values, being close to the university and MUMC.
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if you don't mind being across the street from a busy Tim Hortons.
I can get a pipeline put in and have a coffee draft tap ;D
Dont spend anything on research on south oval until a day or two before and even then it is probably a waste of money ..99% says it will redeem
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And if it would not redeem, it will go for a ridiculous amount of money.