Ontario Tax Sale Property Forum
Sheriff Sales / Foreclosures => General Discussion => Topic started by: Dave2 on October 15, 2019, 12:40:22 PM
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One of the frustrations of this business is Tax Sale cancellations by the municipality because it wastes a lot of our time and money. The worst case I have ever seen has just come up again. 333 East Avenue Pin 17187-0039 Roll 03021605960 in the City of Hamilton. This property was first listed for tax sale in 2012 and this is the fifth tax sale it has appeared on. It is a single family house in an area that is being rapidly upgraded. it does not take 5 times to sell a house through tax sale and why they keep cancelling is beyond me. The houses right next to it have been demolished and replaced by new modern homes. The property was shown as vacant in 2015.
Tax sales it was previously on were in 2012, 2014, 2017, 2018 and today 2019.
Needless to say the minimum bid price keeps escalating. In 2012 it was $22,000 and change and has tripled in the interim to this tax sale. Anybody have an idea what the heck is going on?
BTW this is not the only repeat tax sale property on this tender but I can understand that a property appears twice as the municipality tries to work out an arrangement with the taxpayer that does not work out. Obviously the municipality does not appear to want to take possession and maybe we should be cautious about buying this one on East Avenue. Particularly around Halloween time.
Redemptions I don't like but are a necessary evil in this business.
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Looks like it finally sold: https://www.hamilton.ca/home-property-and-development/property-taxes/tax-sale-property-results