Tax Sale By Public Auction
Once a week we send an email to our members giving details of all the newly listed tax sales in Ontario. Click "Upcoming Tax Sales" in the left side menu to see a complete list of all the current upcoming tax sales.
This information is available free of charge at this website. It may give you important details about the property, such as:
Is there a building on the land?
Is the land accessible by a road?
The bid package will have information on all of the properties being sold by that municipality. You can download a bid package from this site for $10.00. If you would like information about how you will receive your order after you purchase it, please click "Frequently Asked Questions" in the left side menu.
Most, but not all, mortgages, liens, executions, etc. are eliminated by a tax sale. Interests in favour of the "Crown", and some other interests, will continue to affect the property after a tax sale.
To find out what, if any, interests will affect the property after a tax sale you need to obtain an up-to-date title search and execution search. You can order searches directly from this web site if you are a GOLD Member. One of our in-house title searchers will prepare a brief "Title Search Summary," written in plain English, not legal jargon, so anyone can understand the results of the search. The Title Search Summary will tell you if any mortgages, executions or other encumbrance will affect the property after the tax sale.
If you would like information about how you will receive your order after you purchase it, click on "Frequently Asked Questions" in the left hand menu.
If you would like to buy a property you will have to attend the auction.
This will enable you to find out if any new mortgages or other interests that will affect the property after the tax sale have been registered since the
most recent title search was conducted.
Go To The Auction
2.1 Make Sure You Have Sufficient Funds With You.
Your money must be in the form of either cash or money orders or bank drafts or cheques certified by a bank or trust corporation.
The auctioneer will open the auction by declaring the tax sale officially open and by reading out excerpts from the Municipal Tax Sale Rules.
You must immediately pay the full amount bid plus the applicable Land Transfer Tax and the accumulated tax taxes, and HST if applicable, to the auctioneer. If your money order(s) and/or certified cheque(s) total more than the amount that you owe, the municipality will most likely issue you a cheque for the difference as soon as possible. The auctioneer will then issue you a receipt for the amounts received. The receipt will include the legal description of the property, your name and the name in which the tax deed will be registered.
If you are declared the successful purchaser, the Treasurer will prepare a Tax Deed showing you, or someone else if you choose, as the new owner of the property. The person shown as the new owner will have to sign the deed and have it "commissioned" by a Commissioner for Taking Oaths. If you go to the treasurer's office to sign the deed someone there will most likely be able to commission the deed. If prefer that the Treasurer send you the deed to be signed, you could have it commissioned by a lawyer, doctor, professional engineer, member of the clergy, or other Commissioner for Taking Oaths. The deed will then be registered at the local land registry office. As soon as the tax deed is registered you become the owner of the property.
If you would like more details about how tax sales are conducted you can download the Municipal Tax Sale Rules from our Tax sale legislation page if you are a member of OntarioTaxSales.ca.Source: www.ontariotaxsales.ca