Ontario Tax Sale Property Forum

Tax Sale Forum => Questions and Answers => Topic started by: RenoCoach on April 26, 2005, 10:55:04 AM

Title: Making a bid
Post by: RenoCoach on April 26, 2005, 10:55:04 AM

  I have never purchased a property for sale for taxes.  There is one for sale that the taxes are only 21,000 but it is  a $200,000 dollar home for sure if fixed up.  What is the general rule of thumb when going into this game?  Would like to know.  Need help bidding starts soon.  Thanks

Title: Re: Making a bid
Post by: Rob on April 28, 2005, 06:36:54 PM

Well in my opinion,

You need to add that $21,000 in taxes figure + the bid on the property +  additional property costs afterwords.

If that amount is 30% less then the home value I would say its a great purchase. Keep that total  140,000 or less..


What does everybody else think?

Title: Re: Making a bid
Post by: TLCCanada on July 29, 2005, 03:06:54 PM

Fantastic deal. Go ahead and submit offer. Need a partner? Contact me.  ROGER