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Property Information / Re: Anyone want to join my bid on Northern Bruce Peninsula
« on: September 13, 2009, 04:39:04 PM »
I met the neighbors a few days ago - surprising how quiet they are!
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Announcements / Re: Chatham Kent AUCTION
« on: July 11, 2008, 11:22:14 PM »
Ugh..that's what I was afraid of.
Thanks for the info.
Thanks for the info.
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Announcements / Re: Chatham Kent AUCTION
« on: July 11, 2008, 08:06:37 PM »
My mistake, it was property #6, assessed at $75,000, sold for $10,800, crown lien $106,411.
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Announcements / Re: Chatham Kent AUCTION
« on: July 11, 2008, 07:11:47 PM »
IMHO, I don't think #1 was a deal, a nice little property though.
My big question is what now happens with property #3.
The buyer essentially paid $15,000 for a property assessed at $64K, BUT it has a big old (2004) crown lien of over $106,000 (plus 4 yrs of accumulated interest), which technically the CRA can come and collect from the new owner.
I was interested in bidding on this property, but I was unable to find out any information regarding the current status of the lien (how much, if any of it has been paid off).
Knowing about the lien is one thing, knowing how far the CRA will go to collect someone's debt from a 3rd party is another. Would they really ask the new owner for $106,000+?!?! It's totally legal, but seems totally unfair.
Does anyone have any recommendations for gathering crown lien information, or what the aftermath of adopting a big crown lien might involve?
My big question is what now happens with property #3.
The buyer essentially paid $15,000 for a property assessed at $64K, BUT it has a big old (2004) crown lien of over $106,000 (plus 4 yrs of accumulated interest), which technically the CRA can come and collect from the new owner.
I was interested in bidding on this property, but I was unable to find out any information regarding the current status of the lien (how much, if any of it has been paid off).
Knowing about the lien is one thing, knowing how far the CRA will go to collect someone's debt from a 3rd party is another. Would they really ask the new owner for $106,000+?!?! It's totally legal, but seems totally unfair.
Does anyone have any recommendations for gathering crown lien information, or what the aftermath of adopting a big crown lien might involve?
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