Completely Green and a Newb

[jpt]

Hello,

When I first heard about the potential of tax sales I admit, I was skeptical and investigating a bit further I was right. It was explained to me that people who default on their taxes would have their homes taken away from them and these homes would be listed in a local paper where others can bid on the taxes defaulted and if they are the highest bidder, will win the house. Obviously a few details were missing.

I've done a basic google search and after a few one-page sales sites landed here. I've followed up and read through a few of the free articles and am intruiged at the potential but I feel like I really need a basic education in this. Where can I go, resource can I get, book, site, etc?
In addition, is there a listing of tax sales that is constantly updated? I'm interested in British Columbia at the moment. The closer to home the better.  Is there a resource that lists up to date tax sales that I can find locally?

Thanks so much.

Jon

[ErnestBidder]

 It has been written here before, many times, that reading ALL the posts herein, from start to finish, is an education in itself. Compare the dates of the postings with other sites, and I think you will see the point.

[jpt]

I intend to do so, just came about the site about 10 minutes before I posted.  Can you tell me if there is some sort of resource I can access, where it might be, that have new listings in BC? Thanks.

Jon

[Rob]

I intend to do so, just came about the site about 10 minutes before I posted.  Can you tell me if there is some sort of resource I can access, where it might be, that have new listings in BC? Thanks.

Jon

BC doesn't have a central public list that you can easily access.  In your case it is going to be harder in the short run but so much more rewarding and profit making in the long run. 

Each municipality has a website and most will post this information on them, and local papers usually publish the tax sale properties.  The route I would go is select the areas you want and focus on them.  I'll select vancouver as a general example.

Visiting their website I found this page.  It gives me the basic rules and an idea of how the tax sale will proceed
http://vancouver.ca/fs/treasury/taxsale.htm

The rules tell me that you must be in person to pick up the list of tax sale properties a week before the sale.  The sale last happened November 2009 and my guess is the next sale will be in the same season.

////    Rules for getting a tax sale list in Vancouver
Obtaining the Tax Sale List

One week prior to the Tax Sale, the City releases a Tax Sale List identifying the properties liable for tax sale. This list is only available for in-person pick-up.

Copies can be obtained on request at the Information desk located in the main foyer of City Hall. A master list is posted in the foyer and manually updated on a daily basis.

The Tax Sale listing is subject to change up to the time of, and during the Tax Sale Auction.



Now this just an example.  Some cities will post the information on their websites, others will put it in a local paper.  Some lists will be harder to get to than others.  Select 4 to 5 cities and get informed.

And if you come across a list even if it's a little old, post it on this site.  I'm sure everyone would be interested to see what's being listed (or what was recently listed) in BC.