Buying Tax Sale Properties in Ontario, Canada
In some cities and municipalities in Ontario tax sales and tax auctions are a little-known but highly lucrative source of properties for real estate investors. Some savvy investors can, in fact, buy properties at much less than their actual value through tax sales and tax auctions.
In a nutshell, tax sales and tax sale auctions allow investors the opportunity to obtain real estate property by purchasing the outstanding property taxes that are due to the municipality. When the buyer pays off these past due taxes this can eventually result in full ownership of the property. At the very least, buying a tax sale property can allow investors great assurance of some return of their original investment, plus some profit if they investigate the property thoroughly and perform their due diligence. If you would like to have tax sale properties sent to you, please use this link to have Power of Sale MLS properties delivered to your email
The Mechanics of a property purchase for the outstanding Real Estate Taxes
You will find that there are many types of the power of sale and foreclosure homes in Mississauga and surrounding areas. The homes pictured above are
similar to many home styles that you will find here in Mississauga and just outside of the GTA. Let me show you how you can find these types of Power of Sale homes and show you how you can afford to move up to your dream home. Please email me at firstname.lastname@example.org Or, you may use this form to sign up to my POS newsletter .
You will often see advertisements about Court Auctions, Pre-Foreclosures. Homeowners in Bankruptcy, HUD Homes, VA Homes, Government homes and similar sounding wording. In my experience, some of these types of investment property opportunities come out of the US and are not as common here in Ontario. In our trading area, most of the POS, Tax Sale properties or foreclosure properties are put on the MLS. The reason for this is that our provincial laws are very strict about the procedure and marketing of a power of sale property and the company or person who is initiating the power of sale must do their best to obtain what is called TRUE market value as opposed to fair market value for the property, otherwise if the property is sold too far under TRUE market value. the owner could sue them for the difference.
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