Tax List Property Listings Forum
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Here's a bit of a long post. It addresses a number of issues that have been raised and comments that have been made.>>>Anyone who has encountered what I will call "interesting dealings" with a small rural municipality knows what I am talking about>>>What is interesting is that no one including the pro's like Frank and PFM have questioned them about the one situation where I would be worried about them? (I will also allow OTS Jeff to guess it as well if he wishes)I'm afraid you've got me on this one. I haven't got a clue.>>>If there was no ots another similar company would be there and who knows, they might not have the integrity of otsThank you very much. OTS employs professional people with professional backgrounds and expertise. OTS has been around since 2005, and Realtax has been around since 1996, and both companies will be around for a long time to come. We have, and will continue to, conduct ourselves with the highest standards of ethics and integrity.>>>I would be careful if I was in your shoes in giving out free info to new competitors about how your business operatesI don't think I've given out too much information on this forum. What I've given out is the bare bones of doing tax registrations and tax sales. The services that Realtax provides to its clients goes far beyond these bare bones.>>>Most treasurers follow everything that you say on your website, in emails, bulletins and at seminars. Please make sure that you are correct and not stating opinion. I sincerely do my best to separate my opinions from fact. I hope that I've always been successful in this.>>>I am not sold on the HST issue at all and my information is that CCRA's opinion may not be accurate.I was hoping that CRA would conclude that tax sales are not taxable. Sadly, that's no the conclusion they came to. But it is my duty to let the municipalities that Realtax does business with know about CRA's interpretation.If some person, or some municipality wished to challenge CRA on this issue, who knows, maybe they would be successful. But a trip to tax court would likely be quite expensive. I would guess that the legal fees would easily be in the tens of thousands of dollars, maybe more. And there's no guarantee of who would win. And keep in mind, CRA has very deep pockets. And they have very deep reasons for not wanting to see their interpretation overturned.>>I know that you talk in your seminars about the practice of double bidding.That issue has been raised more than once at seminars that I was teaching. My response to it is to let municipalities know what the ramifications of this situation are. I try to stick to the legalities; that's what a treasurer needs to know, regardless of the ethics of submitting more than one tender. To do other wise would be ethically wrong on my part. It could lead a municipality into a lawsuit that could have been avoided by sticking to the wording of the pertinent legislation and/or Regulation.>>>Will you advise a municipality what to do if the owner attempts to redeem after the first deposit has been forfeited?If the municipality is a Realtax client, yes we certainly will advise them. We advise our clients every step of the way. >>>A lawyer who works for a municipality and who has conducted searches on properties would never sell the same searches (perhaps subsearched to update) to the publicAnd neither would we. If a property is being advertised for tax sale today, then Realtax would have done a title search more than a year ago. If someone ordered a search from OntarioTaxSales.ca today, OTS would conduct a search. It would not use the search that Realtax used over a year ago. If someone else ordered a search from OTS tomorrow, OTS would again conduct a search. OTS only uses up-to-date searches.>>>For example, if a Crown lien comes on after service of the final notice or even after the sale, but before registration of the tax deedThat Crown lien would show up on the search that OTS did, and we would report it to the person who bought that search. But, we would have no way of knowing about the Crown lien if it were registered anytime after the OTS search was done. Jeff Oberman, PresidentOntarioTaxSales.caRealtax
What exactly are the issues with running two companies and staffing both with the same specialists?I understand the services these companies offer but where is the flaw?Why not manage both companies? how is that in anyway a conflict at all?please explain a little more, im very curious as to the suggestions that have recently been made.enlighten me...Jtown.
So, I can't possibly imagine what I might have missed. Tell me, the suspense is killing me.
heres a link to something i found, though im not sure if it is of any use at all as its just another contradiction.
>>>If myself or a member of this board wishes at any time to hire your organization for a consulting assignment that would not put you in a conflict of interest with your other clients is that possible? We've never been hired for a consulting assignment. That doesn't mean that we wouldn't consider it, but first I would have to know the nature of the assignment. If it put us in a conflict position, we would decline the assignment.Best regards,Jeff Oberman, PresidentOntarioTaxSales.caRealtax Inc.
>>>I for one appreciate your informed responses, and as a newbie, am soaking up a lot of information... Pardon me for possibly blowing my own horn, but if you want to learn a tremendous amount about tax sales, there is an extremely helpful resource available to you, free of charge. Just go to OntarioTaxSales.ca, and click on HOW TO BUY TAX SALE PROPERTIES. If you read through all of it, you'll know more about tax sales than the vast majority of people in Ontario.Best regards,Jeff Oberman, PresidentOntarioTaxSales.caRealtax Inc.