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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.
Hey I got a great property next to me. Recently renovated ;) Oh and don't mind the leans on it and the fact that the owners are still going through the courts or the fact that it is tagged as a past grow-op.....did I mention great neighbors :D
Definitely do your homework
I wish you could snap up an acre of land for a 1000 bucks I watch 4 acres in the valley for go for as much as 2 million
My 2 close friends do it all the time. They buy properties and flip them or hold for long term. This is the website you need:
http://www.taxsaleproperties.com/
As mentioned above, do your homework, don't bid blind on something that seems too good to be true!!! I am a realtor and my friends always use my access to information and many of their bids are unsuccessful. Takes a lot of work, and some luck to win these silent "auctions". In the past year alone, we have driven to Collingwood, Muskoka, and Haliburton areas to check out some properties...
You can...you'll just have to resign yourself to a 3-4 hour drive to get to it...might not be a bad sacrafice for good hunting land.Quote:
I wish you could snap up an acre of land for a 1000 bucks
I am dying to buy some land around here but Its just way to pricey. I figure if I come across a good chunk of land for a decent price I will buy it.
I already told the soon to be wife that if i buy land we are living in a 50 foot camper until I build a house. hahah
I actually have bought a tax sale property and turned a quick profit when I listed it with an agent and sold it. You have to do your homework. You must do a title search or pay someone to do a title search. I came close on getting several others. I always did it with a friend...split the risk and the profit.
First off, just wanted to say thank you to all of you who took the time to reply to my post very much appreciated!!!
I guess I will really have to think about it and do my homework on it.
Thanks for the website, I'll will check them out.
A friend of a friend had two pieces of land in the huntsville area 100 acres each land. He first wanted $20,000.00 for each property which I did not have a problem with that, I would only buy just the one piece of land.
He then came back to me at $25K and I said fine, then again 30K, so I ask him do you want to sell this property or what...
He came back to me and said yes, $40 for 100 Acres. I told him to shove it.
I found out that the reason he was really selling the property is that he was getting a divorce and needed the money.
At the end, he gave both properies to his ex wife which turnaround and sold it for $30K for both.
Would have been a nice deer camp.
Thanks again,
Luba
The Ontario Gazette is another good place to find property that is being put up for sale for back taxes. It is published weekly, and can be downloaded on the internet. A lot of libraries get the paper version.
I was offered 350 acres for $40 K just north of Harrowsmith. Appeared land locked so did not buy. turns out there were 2 road access routes (deeded) but had not been opened in 50 year.......so check out even land locked property if it catches your eye. go to the township registry office and look up the lot you never know.
I met a gentleman (retired) who spent free time looking up deeds in the registry office and found 100 acres of bush land (near dacre) that was surrounded by crown and had an access road. but the township had not collected taxes in 25 years -he tracked down the owner and the very elderly daughter who had inherited the place and bought it for a song. Lesson: check out the registry office for land you are interested in......you never know.
I once heard about some property around the corner. A real estate agent told me that it didn't touch the small lake back there so I passed. Turned out it DID touch the lake and the rest of the lake is mostly landlocked crown. Shoulda asked the listing broker instead of my "friend".....
Hi, my names Jay. This is my first post.
I am finally going to get my Firearms safety so I came here to get away from real estate and funny enough this topic found me all on its own.
I found this interesting, as I myself have been searching high and low for cheap property in Ontario.
It's amazing that I have never really heard of tax sales until just now even after years of real estate investment. Maybe a sign of old age...
Thanks for the link Hawkman,... I took a look at the website wwwtaxsaleproperties.com but it just took me to some leader page or something? Where do I go after i get to the main home page?
Not all is lost! I did however stumble across another website while plugging Google for answers about tax sales in Ontario. It was called www.tri-target.com and appeared to be pretty straight forward with respect to tax sales. It says "Ontario's Tax Sale Community", so hopefully they live up to their claim.
Anyone in the Algoma area? There are a number of tax sales out this way right now, some of which could even be good for hunting...?!!
Looking forward to learning from you guys!
Cheers,
Jay
Thanks for the websites, when I look on eth site taxsaleproperty.org it gives me the below description, how do you tell the size and coordinates of this property? (I picked one that has closed just so I dont mess any one's bidding up)
Roll No. 57 76 000 007 15200 0000; Highway 17, Wawa; PIN 31170-
0102(LT); Parcel 10133 Section AWS; Location MS2 Lendrum; Location
EQ170 Lendrum; Michipicoten. File No. 12-04
Minimum Tender Amount: $35,962.70
Most of the land going for unpaid taxes have some sort of warts.As has been stated swamp,logged out,no road access.There might be the very odd exception where a property tax was not paid because of a death and was overlooked in an estate.But basically they will not be the most desirable of places to buy.
If they are half decent the locals generally have a good eye on them.At bidding time they are right in there and relatives working in the Township offices tip them off to good properties.
When my local Township had a sale back about 5 years ago there were 14 properties up for grabs.Apparently no bids.
I did not view or inquire about any of these properties but they must have been pretty poor.I will be looking at the next list in case any places are abutting my land.
Well you seemed to have missed a golden opportunity on this parcel, this was an excellent price.The going rate on that land alone would be $200,000 provided it had good access and not all swamp.Its to bad your "friend" was not more open and truthful in his dealings with you.It lookes like he screwed himself and his ex on the value of the land.There is also the possibility that she sold it for cash and only listed it as $30,000 for tax purposes.That way she screwed over your friend and got more out of the divorce.LOLQuote:
Originally Posted by lubahunter
I might have exactly the answer you are looking for Marker...Quote:
Originally Posted by Marker
This information is actually available on the Tri-Target site i mentioned in my previous post. If you check the tax sales and go to the more details pages, there will be information that can assist you with determining property location etc. I am sure they have a map embedded for each property they've got listed.
As for property size, you could contact whoever is listed at the bottom of the ad or anytime i need this information I always start with either Tri-Target or another newer organization named www.GoTaxSales.ca (I have inserted the link for you)... anyhow, most likely either of these companies could give you an approximate size. Both - really nice folks! And no worries, they won't charge you for support or answering questions... I remember being concerned about that, but was never an issue. Not yet anyhow.
So, Marker...Are you a seasoned tax sale..r? Any big wins this year?
Cheers,
Jay
So on another note, can anyone point me in the direction of the section about bows etc., looking to learn a little bit about what type of compound bows are out there and if there is something thats good for beginners but can still be grown into it without having to upgrade gear right away. 40 - 70 pound range, something adjustable. Like the bells and whistles too, but some of them look kind of cheapo.
Any advice on a good bow? and link to good bow forum discussion if anyone knows off the top of their head.
Tks!
Just an update on this post (dragged up an old one,here,didn't we?) Fast forward 18 months,my friends thought that all was lost on this property,but,it turns out,there was a hydro easement that the locals didn't realize could be leased that connected to a concession road. It's not landlocked,anymore. Long story short,rather than be faced with the reality that (horror of horrors) hunters were invading their little worlds,after exhausting all avenues to keep the "landlocked" owner out,they decided to approach my friend with a very attractive offer to buy him out. Six months later,the fifty acres sold for $66K with buyers paying all legal and closing fees. Not bad,considering he bought for back taxes of under $2K.Quote:
Originally Posted by trimmer21
If life we're different Id be shopping hard right now for a little slice of heaven.
Economy is still struggling
Inflation is down.
Loonie is down
BoC is hinting at a rate cut.
Tax sales are one route but there are usually reasons why taxes go unpaid.
Could be a lot of land/hunting ppty up for grabs this year.
Just a "heads up" for anyone contemplating buying recreational property,pay very close attention to the Algonquin land Claim in eastern Ontario. Many properties could be getting dumped very cheaply in anticipation of this deal. Due diligence is the keyword,there.
This is so true, as I am learning looking for 100 acres myself. OOD Main website has good maps showing land claim areas as a starting point.Quote:
Originally Posted by trimmer21
Another source for finding land being sold is the Ontario Gazette. This is a publication issued weekly by the Ontario government and among other things, includes tenders for land being sold for tax arrears or land the government wants to get rid of.
Thanks for the info, Everyone! It's been fun learning all about buying tax sales.
Have you ever bought a one of these properties before, Delmer? I would love to pick up a nice chuck of land for a hunt camp.... Have a new (old as heck, but new to me :D) SKS that needs breaking in and if i can make a vacation, real nice property purchase and hunt out of it.... I am laughing!
There is whisper of a tax sale in Cochrane, Ontario coming up soon; I am thinking about bidding on er' but not 100%. Could be a great potential for some easy weekend club passes and a small additional income permitting i manage to get a property clean and clear from any and all potential hazards and furthermore can use it as a camp. That could very well be a long shot.. and a half, but i suppose that's the point of due diligence eh?
Never bought anything through the Ontario Gazette, just like to browse through it on occasion to see what is available.
Ok, here's another question. How do you go about finding the owner of a particular piece of property? I know the township, lot# conc#. Do you have to actually go to the land registry office or can you do a search somewhere on line?
If its a tax.sale. the owners the municipality
Usually,a trip to the Land Registry Office ,in person,is required. For a nominal fee,they do a records search and return with the information,immediately. They will then handle a purchase at that time. There's some legalities WRT the former owner who may have certain rights to redeem taxes owing,pay the purchaser for any improvements that have been done on the property,but,I'm not entirely sure how all that works. A purchaser really needs to know all aspects of the process.Quote:
Originally Posted by Tony Mo