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Hi everyone, just wondering if anyone from this form has ordered Tax Sale Properties booklet (Properties sold by municipalities for delinquent taxes can be great bargains for informed buyers).
SUBSCRIPTION - ONE YEAR - one year of Ontario tax sale property lists emailed every two weeks
$36.00 a year.
Has anyone bought any property from Tax sales?
Any feedback would be appreciated!
While I haven't yet, a guy I know who lives south of Algonquin has bought a few properties through it and he says that it is great deals. He does advise going and looking at the property first to make sure it's what you want first.
I personally have not, however an old boss of mine was in with a small group of guys that did this on a regular basis, made some good money.
You really need to do your homework on these. Can work out very well, but can be a nightmare if your not careful.
Agreed !!! You must exercise caution to ensure that there are no leans or the easements will not cause you grief after you decide to purchase, look very closley and have a real estate lawyer look at the properties you are interested in. You can come accross some great bargins, but, be careful !!!Quote:
Originally Posted by brent
Hmm Only 22 and I can buy the land I want for the future :D
It can be done but be carefull.Most of those properties are landlocked,meaning if you can't drop in by float plane or parachute,there's no access.Without permission from neighbors to cross their property,you're done like dinner.A buddy of mine just got burned bad.He didn't do the due diligence thing and quickly found out his property was surrounded by Toronto weekenders.No trespassing signs went up as soon as they found out he was hunting the property along with the OPP.With no deeded access,there isn't anything he can do about it.Now he's stuck with a useless piece of property.It's likely why it was abandoned in the first place.
I paid for this years ago to check it out - Alot of the properties were undesirable. There wasn't alot of land for example - alot were in-town lots. Like he said above, you have to be very careful and will want to check the properties out thoroughly before bidding on them. You really have to know your real estate and put some time into learning the process.
More or less the fee is for the book they send you which isn't extremely helpful. The website is more or less this: http://www.taxsaleproperty.org/Tax-Sale-2009.html
Which is free for anyone to check out.
If you check out alot of township websites they have tax sale properties listed.
Another cool company I always check out is dignam land http://www.dignam.com/
You can fill out the form on the website and they send you a free 3 month catalog of their properties, arrange financing on the properties - and I think you can even trade properties back in the future if you see another one you like.
Around here there are always some of the politically active (read buddy-buddy) locals who hear about the good properties and snap them up before they even get into the local paper. Then they will get logged and be let go for back taxes again, unless they are suitable for building sites. Decent vacant land (bush) seems to go for about $1000/acre on the open market.
Same around here. $1,000 seems to be the baseline. Less for swamp, more for open fields on marginal land. I suggest that the young fellows invest in this instead of new ATVs and other toys.Quote:
Decent vacant land (bush) seems to go for about $1000/acre on the open market.
Property that is being sold for back taxes is required to be advertised in local newspapers. If there's a certain Township that interests you, a $50 subscription to the local weekly might be a good investment.