Tuesday, February 23, 2010

Where can you find TAX Sale Properties?

This is another question that I received about Tax Sale Properties, and of course my answer!
Hi Mark, I have a question, we are interested in Tax Sale Homes for our business could you send me listings for those? Thanks and have a great day Sam
Hi Sam,
We don't see too many Tax Sale Properties on the MLS. Some realtors may do this for a fee, but I don't know of any. Buying a tax sale property is a very involved process, plus you have to submit sealed bids or be at the actual auction, so it takes up much time and effort. I think this is partly why they end up being reasonable purchases.
With that said, almost every single tax property I've looked at has a major deficiency of some kind. For example, it may be landlocked, it may be a very long thin slice of property of not much use, it may be just barren rock or very swampy lowlands, or a slice of land adjacent to major highway or railway that is not of much use, or 50 acres in the middle of nowhere with only a logging road to it (something of nice use, but not too much value) I think you get the idea. I am not trying to be negative, just giving you my experience. With that said, there was a tax sale property of a detached home on Britannia about a year ago, I don't know if it sold or if the owner paid up the taxes, I will try and hunt it down for my information and if I find it, I will email you again.
If you are in Mississauga (or any municipality for that matter), I would go to the tax office at city hall to obtain the next sale of properties to see what it's all about and the process and then you can decide if this is something you want to pursue.
I wish you all the best with your Tax Sale Search.
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Please let me know if you have any other questions or if there is anything else I can help you with.

Thank you again for contacting me and I will do my best to help you with your real estate needs,
A. Mark Argentino

P. Eng. Broker
Specializing in Residential & Investment Real Estate

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