Ontario Tax Sale Property Forum
Tax Sale Forum => Introduce Yourself => Topic started by: danbeel21 on May 23, 2011, 03:44:34 PM
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Hi, all.
My name is Adeel. A friend of my dads mentioned the Ontario Gazette and tax sales properties and after researching and coming across this forum it seems like an EXTREMELY valuable resource with lots of really experienced, knowledgable folks.
I'm not so much interested in doings tons of investments in land(not yet anyways, it seems faaar above my pay grade at the moment), but more into homes/commercial.
I did have one question. I noticed that there are two types of sheriff sales. Sheriff sales of land which are brought about by third parties such as creditors, and then sheriff sale of lands for tax arrears. I get the tax arrears situation.
What I dont understand is why a creditor would initiate a Sheriff sale of land when they could do a power of sale? I assume the two concepts arent the same, but im not sure what the advantage or reason for Sheriffs sale would be.
I hope my question makes sense and my terminology is right. Any help is greatly appreciated!
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Ahh I see...
So a creditor who for example does not have a mortgage on a property would initiate the process since they dont have the actually have the power of sale as an option...makes sense
Another 2 questions (and if its not in the right place, feel free to let me know):
- Title searches can be done at the land registry office. How much does it cost to do? I also read that it can be done electronically? What would be the site for that, and again, whats the cost?
- For a property that has real property on it (like a house) how would you get keys to the place for example if you happened to win the auction? Also, while I know there are no warranties, is there a way of determining (or is the govt required to disclose) whether the home for example had a grow-op in it, or something of that serious nature (another example could be some kind of major asbestos problem for example)?
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Title searches can be done from a number of different people and the cost can vary. Do a search on google for Ontario Title Search or something along those lines will bring up a number of companies. You can do it in person or online.. Prices can range from $50 to $200 depending on the service and the types of services they offer.
How would you get the keys? Get a locksmith or better yet knock.. (people might be living in your house and would have a key)
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Hey all:
Just wanted to say hello and a Thankyou to frank for leading me to this site. I met Frank last week in St. Catharines and a day later in smithville at the west lincoln opening. I have learned alot about the process already and I am sure this site will also help alot.
Breuk
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Frank and/or Breuk (since you
met Frank last week in St. Catharines and a day later in smithville at the west lincoln opening.
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could one of you post the results for West Lincoln, please.
Thanks in advance,
Andrew
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File 10-04 Cancelled a few days ago
File 10-05 $10,000 (single bid)
File 10-08 No Bids
File 10-11 $21,700 (single bid)
File 10-14 Cancelled in the morning
File 10-15 $310,000 (seven bids)
File 10-16 ?
File 10-19 Cancelled @2:45 pm
File 10-21 ?