Messages

1

Questions and Answers / Re: Sale Price

« on: October 28, 2005, 12:40:58 PM »

Well it looks like the differect municipalities are more than happy to provide the winning tenders to you, in fact the City of Windsor actually posts them on their website.

2

Questions and Answers / tax sale vs. sheriff sale

« on: October 24, 2005, 12:01:13 AM »

Hey everyone,

I'm looking at tax and sheriff sale properties and want to make sure I have everything straight.

Tax Sale:
- property is sold by municipality/region for non payment of taxes
- minimum bid is based on the outstanding taxes (i.e. owe $2000 in taxes, minimum tender/bid is $2000 + selling costs)
- vacant possession not guaranteed
- other liens/mortgages may be in place against property which would become the responsibility of the winning bidder[/li]

Sheriff Sale:
- property is seized from owner by sheriff and auctioned to public to pay debts
- no minimum bid
- vacant possession no guaranteed
- other liens/mortgages may be in place against property which would become the responsibility of the winning bidder[/li]

Does this look to be about right?  What do people see as the advantages and disadvantages of each type of sale?

Thanks for the help,

Raz

3

General / Re: Would members be interested in other provinces/states listings?

« on: October 23, 2005, 11:40:43 PM »

definitely

4

Questions and Answers / Re: Sale Price

« on: October 23, 2005, 11:31:17 PM »

Sierra,

I tried just sending an email request to the municipality asking for the winning tender amounts.  I'll tell you how it goes.

Raz

5

Questions and Answers / Re: Due diligence

« on: October 23, 2005, 11:28:46 PM »

Ben,

I just went to the land registry office to do a title search for some properties for a Sherrif's Sale in my area.  It was the first time I had tried to perform a title search and probably the last.  The information I was able to collect was pretty unclear so I'll probably use a real estate lawyer in the future to be sure the info is correct, I would hate to make a mistake that could likely cost thousands of dollars to fix.

I'd definitely like to hear other peoples experiences with registry searches though, I may be missing something.

Thanks,

Raz