Messages

1

Announcements / Terminology

« on: September 27, 2007, 12:52:39 AM »

Hi, can someone please offer insight on how to decipher the terminology commonly found in the tax sale listings? 

For example:

Part Lot 15, East side of Flora Street, Plan 43, City of St. Thomas,
County of Elgin, as in E367101, being the whole of PIN 35177-0007 and
known municipally as 93 Flora Street, St. Thomas, Ontario.

Sorry in advance if this question has been asked before.

2

Property Information / Re: Sarnia

« on: August 07, 2007, 10:53:50 PM »

Wouldn't the amount of mold suggest the houses may be uninhabitable and may have to be totally demolished?

3

Property Information / Re: Sarnia

« on: August 07, 2007, 03:58:50 PM »

Can you please specify the source of your information regarding the mold in the house?

4

General / Re: 4 Bartlett in St.Catherines

« on: July 09, 2007, 10:31:09 PM »

I called and asked if it was still on and the tax department said the owner had paid up.

I don't believe it's been formally announced

5

General / 4 Bartlett in St.Catherines

« on: July 09, 2007, 05:49:16 PM »

Just found out it's been cancelled.

6

General / Re: Oshawa Property

« on: May 07, 2007, 01:37:17 AM »

My impression is that a winning bid includes the tax owing on the property.  In other words, you would not add the tax owing onto the winning bed; is this correct?

7

Property Information / Re: Oshawa Property

« on: April 23, 2007, 12:05:32 AM »

Hi, I don't have information about the Oshawa property but I do have a question that relates to it (and any other property).  It is a basic question (excuse my ignorance, I'm new).

Does a bank's mortgage to the subject property survive the tax sale?  In other words, would the winning bidder have to pay off the balance of the existing mortgage (I would think this is the case).

Thanks for your help and sorry my question doesn't relate directly to the Oshawa property.

DJ

8

Questions and Answers / Becoming a Landlord

« on: April 17, 2007, 08:53:20 PM »

Hi Everyone,

My plan is simple enough; I hope to purchase a house at a discount (obviously) and then rent it out and earn positive income.

What are the pitfalls involved?  The former owners occupying the property could be one issue....has anyone tried to rent it back to the former owners?  I understand one solution is to offer a lump sum amount to vacate (how much are we talking?)

Is it possible to do a home inspection during the tender process?

Has anyone tried renting a house in a small town (5,000-25,000 people) and if so, what was your experience?

Thanks in advance for your help.