Toronto Sale

[Apex]

Just wondering if anyone has any information on the properties for sale in Toronto?

[speedfreeksteve]

I'm curious if anyone knows what some of the properties in the previous sale went for so I can have a good idea of how these properties are being bid compared to their approximate market values.

[Jim19]

I'm not to sure on the last sale, but I've been looking into this sale a lot of the properties have already been cancelled, or will be at some point this week. Acording to Nick at the city. The property on 440 Birchmount seems to have environmental issues. The company that owns it has gone out of buisness after an envirnmental lawsuit they went through in the 90s. If anyone has any questions I'd be glad to share what I've dug up.

[smilesnoopy]

FYI.  I just called the City of Toronto office.  466 Carlaw Ave, 350 Alton Towers and 65 Skymark Dr. are all cancelled.

[MDFortier]

What about 475 The West Mall...anybody no anything on the crown lien on this property?

I went and looked at it today and its in a great area looks very clean.

Thanks for the undates.

[twinn]

475 west mall is not a great area it is okay, used to live in that building years ago and its not a great place(for a condo), there is a lot of subsizeded housing on the east/west mall.  But its okay, lot of small petty crime but nothing to serious.  Most of the toronto properties were redemmed last year--excpet for the ones with the huge crown liens that some poor guy probley bid on wothout doing his due diligence.  I don;t think that there will be any good deals here as the available properties will go close to market value.

My only advice is to wait as close to the sales date as possible to save money on the lien/title searches and if you are serious, then complete all of the required due diligence.  Good luck

[swanr]

do we know what the crown lein is for, and how much?

[payla]

I called the city this morning and only Birchmont and Weston road properties will be offered for sale the rest are either canceled or postponed.

[mississauga]

As Payla said only 440 Birchmount Road and 1804 Weston Road is available. Also to get the prescribed form for tender you need to pay $25. I have general question if any one can help that would be great.

If Minimum Tender amout is $18,000 and if my tender amount is $40,000. 20% of which amount should I attach with the tender.
i.e 3600 or 8000.

Also If mine is not the highest tender will I get the bank draft back and when?

Please let me know and Thanks in advance.

[jwjonker]

As Payla said only 440 Birchmount Road and 1804 Weston Road is available. Also to get the prescribed form for tender you need to pay $25. I have general question if any one can help that would be great.

If Minimum Tender amout is $18,000 and if my tender amount is $40,000. 20% of which amount should I attach with the tender.
i.e 3600 or 8000.

Also If mine is not the highest tender will I get the bank draft back and when?

Please let me know and Thanks in advance.

The first question's answer is 20% of YOUR tender amount....and not a single penny less...I usually send in 21% to  be safe.

The second questiong is dependent on the municipality....if you're the highest, obviously you won't get it back....if you're the second highest, you won't get it back until at least the highest tender has lapsed and defaults to yours...approx 2weeks at which point your chq gets cashed. Otherwise, once the highest tender has been fulfilled,your chq will be mailed back....if you're not in either category, you should get it back in the mail, depending on how fast the municipality works.....


.....but that's been only my experience ..... I may be corrected by the more experienced among us 

cheers !!

[Frank]

Some Municipalities will return all but the two highest tender bid deposits at the sale - on proof of identification and signing a waiver, provided you are there.  I've noticed fewer of them willing to do this, since the two highest bidders may in fact be informal and end up getting tossed.   Most want a couple of days to review the documents and make their determinations before they start to return deposits to the low bidders.  The most your money will be tied up is a couple of weeks if you are not in the winners circle.

[hhaqca]

I'm not to sure on the last sale, but I've been looking into this sale a lot of the properties have already been cancelled, or will be at some point this week. Acording to Nick at the city. The property on 440 Birchmount seems to have environmental issues. The company that owns it has gone out of buisness after an envirnmental lawsuit they went through in the 90s. If anyone has any questions I'd be glad to share what I've dug up.

I am just wondering where do i go to find when is the tender end . please can you also tell me whats the process.

[mississauga]

The homepage of this website list all sales and also the tender end date. You can call the City and confirm the dates.