TAX SALES

BEFORE

Photo below shows overgrown grass when property first purchased at tax sale.

Thorold ON: Sold for $31,500

AFTER

Property listed shortly after purchase.

Thorold ON: Sold for $31,500

Canadian tax sales enable local governments to collect delinquent taxes, which are used to pay their bills – for roads, schools, transportation systems, and the like.

The tax sale process is open to anyone who’s aware of it, and who invests some time to learn how it works!

Many who might feel they can’t afford real estate at this time will be surprised to discover that tax sales allow you to acquire raw or developed land (as well as land with residential or commercial buildings) for little more than the price of the taxes owed. Any interested party can bid on a property, even from other countries.

Except for instances in highly sought-after areas, the winning bidder (typically the highest) gets the property at a price much lower than its market value. However, in large cities like Toronto, it’s not unheard of for a property to go for more than its assessed value due to aggressive bidders that might include developers.

Although under the marketing radar, tax sales have been ongoing across Canada for many years. These properties are never sold by real estate agents or financial brokers, and don’t follow marketing trends, which regularly change. Tax sales are governed by the Municipal Act, 2001 and the Municipal Tax Sales Rules made under that Act.

You can learn more about tax sales by getting the book, How To Buy Tax Sale Properties: A Canadian Guide. It’s available in hard copy or an e-book version. The e-book is available only from this website; email buyland@buylandtoprofit.com.

The hard copy is also available from this website, from Amazon Canada , and from Books for Business

To get the e-book today, click here.

To more quickly learn the process, an in-depth course is available. Contact  buyland@buylandtoprofit.com  for more information.

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If you’re buying a house and need a reliable mortgage broker –  meet Charlene McFarlane  at The Mortgage Centre. ****************************************************************************

If you need an affordable lawyer on any matter, contact: buyland@buylandtoprofit.com to learn about possible referrals.

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