Ontario Tax Sale Property Forum
Sheriff Sales / Foreclosures => General Discussion => Topic started by: Dave2 on March 29, 2015, 06:55:52 PM
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Dated: January 6, 2015
Martin Zimmer
Directeur
(148-P095F)
Sheriff?s Sale of Lands
Ventes de terrains par le sh?rif
UNDER AND BY VIRTUE OF a Writ of Execution filed with the Sheriff
of the Regional Municipality of Durham, dated the 9th of July 2014, under
writ file number 14-0001281, the real and personal property of Michael
Loughlin, Debtor, at the request of Autopoietic Telemetric Solutions
Limited, Creditor, I have seized and taken in execution all the right, title,
interest and equity of redemption of Michael Loughlin, Debtor, in and to:
LOT 25, PLAN 40M2173, S/T RIGHT AS IN DR234187. S/T RT AS
IN DR341376; TOWN OF WHITBY municipally known as: 15 Hesham
Drive, Brooklin, Ontario L1M 1J9.
All of which said right, title, interest and equity of redemption of Michael
Loughlin, Debtor, in the said lands and tenements described above, I shall
offer for sale by Public Auction subject to the conditions set out below at
the Superior Court of Justice, 150 Bond Street East, Oshawa, Ontario L1G
0A2, Phone Number (905) 743-2800 ext. 7015
on Friday, May 1, 2015 at 2:00 p.m.
THE SALE OF THE AFOREMENTIONED PROPERTY IS SUBJECT
TO THE FOLLOWING TERMS AND CONDITIONS:
The purchaser to assume responsibility for all mortgages, charges, liens,
outstanding taxes and other encumbrances. No representation is made
regarding the title of the land or any other matter relating to the interest
to be sold. Responsibility for ascertaining these matters rests with the
potential purchaser(s).
TERMS: A deposit of 10% of bid price or $1,000.00 whichever is greater.
Payable at time of sale by successful bidder;
To be applied to purchase price; and
Non-refundable ? Failure of the successful bidder to comply
with terms and conditions may result in a forfeit of any
deposits paid at the time of the sale or any time thereafter.
Ten business days from date of sale to arrange financing and
pay balance in full at Superior Court of Justice, 150 Bond
Street East, Oshawa, Ontario L1G 0A2.
All payments in cash or by bank draft, certified cheque or
money order made payable to the Minister Finance.
A Deed Poll will be provided by Sheriff only upon satisfactory
payment in full of purchase price.
Other conditions as announced.
THIS SALE IS SUBJECT TO CANCELLATION BY THE SHERIFF
WITHOUT FURTHER NOTICE UP TO THE SATISFACTION OF
THE SALE TERMS BY A SUCCESSFUL BIDDER.
Note: No employee of the Ministry of the Attorney General may purchase
any goods or chattels, lands or tenements exposed for sale by a Sheriff
under legal process, either directly or indirectly.
March 19, 2015
Andrew McNabb and Alain Billington
Court Enforcement Officers
Superior Court of Justice, 150 Bond Street
East, Oshawa Ontario, L1G 0A2
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Who is Autopoietic Telemetric Solutions Limited?
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Who is Autopoietic Telemetric Solutions Limited?
Actually when I first saw it I thought it would be the perfect name for a tax sale buying company. Think of the potential.
According to Matt looks like we have a real catfight in Lindsay coming up. (I hope Kawartha Lakes decided to do a spring cleaning and we don't have another one where Revenue Canada is first in line. I don't think I have ever bid a tax sale with Revenue Canada (censured) because they always have LARGE (first priority) claims and I have spent a fortune on title searches. ) >:(
Back to your question imagine the impact when the treasurer calls out bids by that name in a room of 100 bidders. ;D
Alas if you believe Google they are a legitimate business.
http://autopoietic.com/
What they are doing in Whitby is a good question?
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The explanation starts on page 14...
http://davidfreedman.ca/wp-content/uploads/2013/06/7-Complex-Motions.pdf
I think there's some (Auto)poetic justice in the Nigerian government getting scammed online!
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Thanks to Elvis!
From the link Elvis has provided, I could collect preliminary data on the house.
1. The owner, now the debtor, bought the house in Whitby for about $370k in 2011 CASH, without mortgage.
2. He has paid off all of his debt in other country.
From these, we can now further proceed and can come up with some educated guesses.
1. There is no mortgage or encumbrances on the house.
2. Whitby Sheriff will most likely try to sell it for at least $370k for the execution creditor.
3. The current market price of the house might be well over $400k.
4. The sheriff reserves the right to refuse any amount, even the highest bid, if it is not close to the market price.
So now, we already know how high one should expect to bid if he wants that house under his name.
Is it still worth to investigate any further?