Messages

1

Canadian Tax Sales / Re: Question for Tax Sale Auction Winners......

« on: September 20, 2008, 02:32:18 AM »

I wonder why provinces have to have different rules regarding the redemption period? My location is in BC. When I called city hall to see what bidding was like, she told me that only 5 people showed up last year for the tax sale....and now I know why....who would want to plunk down their money when the owner of the house gets an extra year to pay down their tax owing and take it away from you. These people haven't paid their taxes in 3 years, and then they still get an extra year after the tax sale. This is why I am rather hesitant to attend the auction. There were only a total of 7 properties, which is now down to 4 because 3 folks finally decided to go to city hall and pay up. 1 property has an old house, and the remainder are just small lots. Sale is not until Sept 29, I'll have to wait and see what is left for it.

Perhaps I should consider buying elsewhere?

What provinces don't have this one-year redemption law?



Thanks for the replies!

 

2

Canadian Tax Sales / Question for Tax Sale Auction Winners......

« on: September 19, 2008, 03:05:00 PM »

Hello,

How many of you tax sale auction winners had your property redeemed by the owner? I am considering going to my first tax sale on Sept 29th 2008, I am just curious on what my chances are of the owner redeeming their property within one year. Please tell me about your experiences. Thank you.