Ontario Tax Sale Property Forum
Tax Sale Forum => Questions and Answers => Topic started by: jreist on August 16, 2006, 12:10:19 PM
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With other tax sales I have try to participate in GST, Transfer Tax and other charges are taken out of the difference between the min. tender and successful bid. Is the Crown Lean taken from the access from the sale or do I have to pay this on top of my bid?
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This would be something you would pay on top of your bid to a different group of people and at a later date after the deed is in your hands.
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The sales which I have been successful in have ended with the GST and Transfer tax being added as an extra to my bid. The majority (if not all) of the sale ads state that "The successful purchaser will berequired to pay the amount tendered plus accumulated taxes and the
relevant land transfer tax", and some indicate that GST is extra - if applicable.
Crown liens are always on top since they remain as a obligation of the property.
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In checking out the property for the Elizabethtown-Kitley I found that there was a Crown Lean from CMHC that was listed as being $19062.20. I checked with CMHC and was told that it was now $26,132.81 being that it was probably 6yrs in arrears. I was told it had to be payed before ownership be transfered.
I was planing to put in a bid even though it would cost me more then what I planed, the property seem good, unfortunately it was payed off and cancelled