Ontario Tax Sale Property Forum
Tax Sale Forum => Announcements => Topic started by: Tri-Target on May 28, 2012, 03:14:38 PM
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Check out this link to the Tax Sale Properties in Welland, ON - there are 3 properties currently being advertised on the municipal website.
http://www.welland.ca/WeeklyInfo/Landsales.asp#sale0525
(http://www.welland.ca/WeeklyInfo/Landsales.asp#sale0525)
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Semi has been cancelled, and word has it that the other two will be as well. 8)
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Semi has been cancelled, and word has it that the other two will be as well. 8)
Frank, as a former tax man, what advantage do these delinquent owners see in leaving the redemption to the last minute - aren't they just incurring additional expenses ? i.e., don't the tax sale prep costs get added to their tax bill (or what we know as the minimum bid amount) ?
I know this won't help any of us in bidding, but I really don't get it -- and there seem to be so many of them, even multiple times on the same property.
Thanks for whatever insight you can provide.
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Semi has been cancelled, and word has it that the other two will be as well. 8)
Frank, as a former tax man, what advantage do these delinquent owners see in leaving the redemption to the last minute - aren't they just incurring additional expenses ? i.e., don't the tax sale prep costs get added to their tax bill (or what we know as the minimum bid amount) ?
I know this won't help any of us in bidding, but I really don't get it -- and there seem to be so many of them, even multiple times on the same property.
Thanks for whatever insight you can provide.
You're right, there are additional costs which get added the moment a registration occurs, a year ago. By the time the 11th hour comes these costs add up to several thousand dollars, with the searches, admin costs, costs of registered notices, and advertising. However, everyone's financial situation is different, and we would have to know what that was in order to determine what went wrong. In at least one case, on one of my purchases, the owner didn't think the property was worth as much as the taxes outstanding. Sometimes, it is actually redeemed at the last minute by a mortgagor, or some other interest on title, in which case their interest is increased, and they will have rights of foreclosure available to them. In another case which didn't get redeemed my observation was that the owners actually got more at tax sale than they had been asking on the MLS for three years prior...strange things do happen...if it hadn't been for that would they have come in with the money before the transfer occurred...anyones guess.
I still think we need to lobby for a change in legislation to enable the Treasurer to truly excercise his/her discretionary power, while they may indeed accept payments till the last minute the possibility of them not doing so legally will eliminate all the games that are being played. Last summer, when the town's lawyer called and asked me if I wanted to challenge the Treasurer's actions in accepting payment, I decided against doing so as I didn't want to spend my hard earned money on more lawyers, however maybe it was an opportunity missed to reset the playing field...if it happens again, maybe we can all finance a legal challenge, instead of my going it alone, fifty bucks from each member and the 12000 on the wating list could buy a lot of legal advice. I'll set up a PayPal account and you can all toss money into it for me to use as I deem fit...lol. 8)
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Hi Frank
I am wondering how did you find out that the semi was cancelled. I am planning to head over to Welland next weekend.
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Hi Frank
I am wondering how did you find out that the semi was cancelled. I am planning to head over to Welland next weekend.
I saved my gas money and let my fingers do the walking. The cancellation is now posted on the City's website. 8)
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Hi Frank
I am wondering how did you find out that the semi was cancelled. I am planning to head over to Welland next weekend.
I saved my gas money and let my fingers do the walking. The cancellation is now posted on the City's website. 8)
Welland web-site is now showing all three as having been redeemed, so don't waste your time and gas, unless you want to go for a nice drive. But if that is the case you can hit the in-water boat show and rib-fest in Gravenhurst http://muskokashows.com/index.php instead, last weekend in July and I'm pretty sure that PFM will be there with his boat-load of honeys, oh and don't forget the music-on-the-barge summer concert series Sundays in Gravenhurst as well. Kawartha Dairies Moose tracks ice cream right across the street...enjoy. 8)
p.s. The women came out of the water simply because I asked them to.
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I guess the young ladies did not have any reason to fear you or feel embarrassed or ill at ease at all with you since tax collecting isn't the only thing that you have retired from. The ladies did understood that the rest of us were still in the game, so to speak. ;D
p.s. The women came out of the water simply because I asked them to.
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I guess the young ladies did not have any reason to fear you or feel embarrassed or ill at ease at all with you since tax collecting isn't the only thing that you have retired from. The ladies did understood that the rest of us were still in the game, so to speak. ;D
p.s. The women came out of the water simply because I asked them to.
Netpred:
I disagree with you. Personally I think 8) had the most important qualification that interests younger ladies in older guys. Because of his obvious success in this business, his distinguished manners suggest he may have a very fat wallet to go with it. (Women are better then men in determining those characteristics so I really don't know.) ;)
Which is ample reason for you and the rest of us to get back to business so to speak as DRD has observed and maybe we will have the fortune some day to follow in his footsteps. He and others have such a head start it is going to take a lot of hard work and some good luck.