Messages

1

New Brunswick Tax Sale Properties / Re: What is New Brunswick like?

« on: November 23, 2006, 04:36:50 PM »

Jreist,

I was born in New Brunswick, moved to Alberta for 10 years after university and recently moved back to NB...........I think it is a great place. The biggest industry here is forestry, and then probably fisheries (mining has really declined here in the last 10-15 years). Lots of jobs, especially if one is bilingual (English & French).....we are expecting a huge shortage of nurses (1000 jobs over next 5 years and trades people. Housing is much cheaper than in Calgary (where I was living), but other things are very comparable (food, household items, etc.) NB has HST (14% - combination provincial & federal tax) whereas Alberta has only 7% GST. But what people tend to forget is that our provincial portion of HST pays for services that are provided to all residents of NB, but one has to pay for in Alberta such as school bus, healthcare, etc. Overall, there are pro's & cons for NB, but it is a more relaxed way of life which I enjoy. As for weather, it really depends on where in the province one lives. Summers is usually humid, hot and rainy. Winter is cold, windy and snow (depending on where one lives can vary from 10" to 120" of snow per year.

Thanks

Dan

2

New Brunswick Tax Sale Properties / Re: How does New Brunswick Taxe Sales work?

« on: November 23, 2006, 04:26:07 PM »

Jreist,

I must clarify that these listings are not tax sales, they are called Notice of Sales, which usually means the owner(s) have defaulted on their mortgage payments. A public auction is held where the company or person holding the mortgage tries to get back at least what the remaining outstanding principal. The contact information at the end of each listing is either the mortgage company or their lawyer. You can contact them & will get varying amounts of information.....but usually they will tell you the outstanding principal amount (which is normally the minimum amount that they will accept. You really have to watch these, because if the current owner has not built up any equity in the home (which is usually the case) the minimum amount could equal as much as 90% of market value (or more). I have looked into a few of these, but the amounts were all outside of my available budget.

Hopefully that answers a few of your questions.

Thanks

Dan

3

New Brunswick Tax Sale Properties / Re: Tax Sale - Cancelled

« on: October 02, 2006, 01:05:32 PM »

Rich,

I live just outside Fredericton (about 20 minutes south) & work in Fredericton. Most of the properties I look at are in Sunbury or York  county, but also look in Kent county

4

New Brunswick Tax Sale Properties / Re: Tax Sale - Cancelled

« on: September 28, 2006, 03:41:20 PM »

Rich,

Here are the properties that were listed in the tax sale for Gloucester county (that has been cancelled), only one is in Bathurst:

Assessed Owner /
Propriétaire imposé Property Location Lieu du bien Property Description Désignation du bien
Year /
Année Page
Property
Account No. /
Numéro de
compte des biens

Aurele Basque 12 Telesphore Street 12, rue Télesphore Land and Residence Terrain et résidence 2006 37298 02973194
Parish of Saumarez Paroisse de Saumarez
Martin Comeau 907 Robertville Road
Parish of Beresford
907, chemin Robertville
Paroisse de Beresford
Lot, 34A and
Residence
Lot, 34A et
résidence
2006 38287 03117987

Robert Boudreau Boudreau Street Rue Boudreau Lot 19 Lot 19 2006 34819 03154248
Village of Petit-Rocher Village de Petit-Rocher

David Christie Route 8, Lac LaFlèche Route 8, Lac LaFlèche Lot and Cottage Lot et chalet 2006 36165 03168881
Parish of Allardville Paroisse d’Allardville

Michel Albain Landry 686 Pinet Street 686, rue Pinet Lot and Residence Lot et résidence 2006 35414 03216252
Village of Bertrand Village de Bertrand

Michel Albain Landry Pinet Street Rue Pinet Land Terrain 2006 35420 03217907
Village of Bertrand Village de Bertrand

Noella Boudreau St. Paul Street Rue Saint-Paul Land Terrain 2006 34972 03232452
Village of
Bas-Caraquet
Village de
Bas-Caraquet

Armand Boudreau St. Pierre Boulevard
West
Boulevard Saint Pierre
Ouest
Residential Lot 1D Lot résidentiel 1D 2006 34484 03269637
Town of Caraquet Ville de Caraquet

Claude Boucher St. Mary Avenue
City of Bathurst
Avenue St. Mary
Cité de Bathurst
Lot 1-89 and
Parcel A-89
Lot 1-89 et
parcelle A-89
2006 33920 04168478

The information didn't copy & paste well, but hopefully it is of some use to you.

Thanks

Dan

5

New Brunswick Tax Sale Properties / Re: Tax Sale - Cancelled

« on: September 28, 2006, 11:12:03 AM »

Rich,

www.gnb.ca/2221/properties-e.asp#restigouche

If you go to the website mentioned above, this is where the provincial government lists all their surplus land. It is divided by county, and I noticed that Gloucester county (where Bathurst is located) there were roughly 10 properties listed, most of these are vacant parcels of land. I think the instructions for placing a tender are located at the top of the page.

Hopefully this is of interest to you

Also, I will take a look at the cancelled tax sales and see if there were any for Gloucester county.

Talk to ya later.

Dan

6

New Brunswick Tax Sale Properties / Re: Tax Sale - Cancelled

« on: September 27, 2006, 11:20:45 PM »

Hey everyone,

I was talking to the Department of Finance today and they can't or won't say why the tax sale was cancelled, but it was cancelled for the entire province. The November tax sale is still a go for now. I'm guessing that it was cancelled due to the change in government here (from Conservative to Liberal), the new party wanting to review everything..........I know for a fact that all hiring of casual employees is frozen until further notice. I did find out today that even though there is a 90 day redemption window after the tax sale, if you are the high bidder you have ownership immediately. The only problem is that if you do any renovation in the first 90 days, the previous owners could still pay back their outstanding taxes and you would be out the cost of renovation because they are not considered a cost of acquiring the property. The department said that they tell people to do what they need to do to protect their interest (get insurance, board up broken windows, etc.) but no extras.

Well that's all I learned today.

By the way Rich, there are quite a few in the Bathurst area. I will try to get some more info and post it here.

Thanks

Dan

7

New Brunswick Tax Sale Properties / Tax Sale - Cancelled

« on: September 27, 2006, 01:45:06 PM »

Hi everyone,

Just thought I would let everyone know that I went to get some more information concerning the upcoming tax sale in New Brunswick (Fredericton area -Oct 4/06) and was told it had been cancelled. They said that it would be rescheduled for a later date. I haven't found out why yet, but there were approximately 10 properties listed in the Fredericton, York County area (found in the Royal Gazette in New Brunswick). Tax sales in New Brunswick are listed by county (15 in total) and you have to physically be present in order to bid. Unfortunately, they are all scheduled on the same 2 or 3 days, so it is only possible to attend a couple at most

I will get back with any information concerning the cancellation.

Thanks

Dan

8

New Brunswick Tax Sale Properties / Open House - Public Tender

« on: September 12, 2006, 01:32:18 PM »

Hi everyone,

Thought I would share my experience with a open house I attended last week. There was an ad in the paper and the Department of Family & Community Services was offering up 2 houses for sale. The one I was interested in was located half way between two major cities (30 minutes to either one) and was assessed for property tax at $68,000. The assessed value as per the department was $28,000. When I went to see it, it was formerly a income-assisted mortgage house that had been converted to low-income rental unit. It has been vacant since spring and had been recently vandalized. The gentleman who was showing it, said the department had assessed it before the vandals hits & he didn't think it was worth the minimum bid. All the damages were cosmetic (holes in drywall, broken light shades, graffiti, etc.) It had kitchen, bathroom, livingroom and 2 bedrooms upstairs & 2 bedrooms downstairs with half an unfinished basement. The roof is new, house is 30 years old, 1.1 acre lot, own well and septic. The lot needs some landscaping (cutting trees & brush, mow the lawn), but other than than that, I think I can renovate it for about $10,000 (all new drywall, paint & flooring) and was thinking of putting a bid of $10,000 for the tender. My biggest concern is the lack of time (I work full-time and am working towards my accounting designation) and the fact that it is 30 minutes from my home , and somewhat concerned about leaving unoccupied. Does anyone have any experiences (good or bad) with unoccupied properties while they are being renovated??

Thanks

Dan

9

New Brunswick Tax Sale Properties / Re: Tax Sales in New Brunswick

« on: July 11, 2006, 06:20:05 PM »

They actually only accept certified cheques, cash, money orders, traveler cheques or a regular cheque along with letter from the bank stating they will honor it.

Compared to Ontario, the prices seem to be quite a bit lower here in NB. For instance the last tax sale was back in April or May 2006 (in Fredericton) and there were roughly 1o properties listed and the prices ranged from $80 to $6000. These included vacant land, cottages and regular houses. The interesting thing is that there was one property listed with a minimum bid of roughly $5200, but it was for a nice house in the heart of the city, assesses for $223,000 for propert tax purposes. I'm assuming there must be liens against it because it has been listed in two consecutive tax sales, but I will definitely look into it more if it comes up again.

Thanks

10

New Brunswick Tax Sale Properties / Tax Sales in New Brunswick

« on: July 11, 2006, 03:51:23 PM »

Hey,

I'm new to the topic of tax sales, but thought I would share what I have learned about the process in New Brunswick:

Tax sales are done through a public auction which one must attend, and if one has the winning bid they must submit full payment immediately. Even after this is done, the property is still not yours....the previous owner(s) have 90 days in which they can redeem their property. The good news is that in order to redeem the property, the previous owner must pay the purchaser (from the tax sale) the purchase price, plus 15%, plus all costs related to the purchase of the property (title search, lawyer fees, etc.).

I realize that having to be present at the auction is an inconvenience, but was wondering what people thought of the rest of the procedure and how it compares across the country.

Thanks

11

New Brunswick Tax Sale Properties / Re: Do you want more Tax Sale Properties from New Brunswick?

« on: July 11, 2006, 03:39:11 PM »

Hi,

I'm new to this, but have been doing some research lately and would love to have more information on listings in New Brunswick.

Thanks

Dan