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Confused by wording in Kemptville Notice
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Topic: Confused by wording in Kemptville Notice (Read 18932 times)
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dukeyduke
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Confused by wording in Kemptville Notice
«
on:
November 09, 2006, 05:47:15 AM »
I am a bit confused by the wording of the Kemptville sale. It includes a clause that “The successful purchaser will be required to pay the amount tendered plus accumulated taxes and the relevant land transfer tax.” I thought that the minimum price was the amount of tax due and that only crown liens would remain on the property. If the purchaser is required to pay taxes owing n addition to the winning bid, how was the minimum bid calculated? Will the tax office provide me with the amount of outstanding taxes owing?
Thank you
DD
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dukeyduke
Newbie
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Re: Confused by wording in Kemptville Notice
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Reply #1 on:
November 10, 2006, 08:33:10 PM »
Just to clarify, the property in question is in Kemptville but listed in the title as North Grenville.
DD
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pjwlk
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Re: Confused by wording in Kemptville Notice
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Reply #2 on:
November 11, 2006, 01:42:42 AM »
I think what they may be referring to is that you have to pay any taxes that have accumulated since the original calcualtion for the tax sale was done for the listing. The land transfer tax I believe is a different issue and is separately payable by anyone on any property that is transferred into their name regardless of how you came to be the owner. The tax man cometh...
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Prospector
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Re: Confused by wording in Kemptville Notice
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Reply #3 on:
December 05, 2006, 01:23:21 AM »
Having Never tried a tax sale before...
If I get a tender package, will liens be listed? Will they appear in a title search?
Supposing i win an auction, is there a legal avenue through which to transfer the liens back to the original property owner? It would really suck to lock into a deal on a property only to lose it again to liens against it.
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pjwlk
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Re: Confused by wording in Kemptville Notice
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Reply #4 on:
December 05, 2006, 08:41:37 AM »
My understanding from reading this forum is that you probably won't find any liens listed in the tender package and that yes you will have to do a title search to fully discover any liens or other surprises.
The only liens that stay with the property when you buy it are those that have been executed by the Crown.
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RichD
Gold
Posts: 81
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Re: Confused by wording in Kemptville Notice
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Reply #5 on:
December 05, 2006, 11:34:23 PM »
Normally the Town\Township wont give much info. other then the legal description. They don't want to be liable for any missinformation. That is why we the potential buyers need to do all the leg work.
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Confused by wording in Kemptville Notice