Need help with TLC, tax sales in Canada
I am new and want to invest in tax liens certificates. Has anyone been doing them
in Canada?
I live in Alberta but I am interested in BC
and other provinces as well.
Thanks in advance. 
I am new and want to invest in tax liens certificates. Has anyone been doing them
in Canada?
I live in Alberta but I am interested in BC
and other provinces as well.
Thanks in advance.
Hey I'm with you! there is a lot of stuff on the states, but not a whole lot for canada. I do know that usually cities have a tax arrear sale (similar to a tax deed sale) once a year, but i don't think there is a lot of properties. anyone else know anything?
hello there folks,
as for tax certificates in canada i don't think that they really exist. i know that there are tax deeds that go to auction. in which case any lien holders are notified before the auction and if they don't step in they lose their money when you take the property at the auction.
it sure is good to see some ppl from canada though i mean 99.9% of the info i find is us related. we will conquer Canada some day. just keep reading
i had a site for you to go to but i lost my bookmarks a few days ago (damn hackers)
anyhow i'm from canada too i'm in ontario so if you ever want to get together just send me a private message or leave something on the board i'll find it.
Finally some fellow Canadians are making their presence known!!!
I have been dappling in the Canadian Tax stuff and I have found out a lot about Ontario as that is where I am from -- the process here has many structures/levels to it. Anyhow, your post mentions you are interested in BC. Here is information from my research pile about BC -- some I have to give credit/reference to John Beck's Free & Clear course as he does dedicate a few pages to us lonely Canadians... The main activity is Vancouver. Vancouver is a tax lien city. (Rare as most provinces are tax deed and in fact the rest of BC is tax deed) The tax lien certificate sale is held the second Wednesday in November on odd # years, at city hall 10 am. For the month prior, they are advertised in local papers & the the Government journal/magazine, called the Gazette. The Federal Government of Canada stipulates that each province must legally advertise their tax sales in their own gazette. That is the real source of listings for any region/city/area of a province and each province has this journal.
The publishers of the gazette have a website to order and offer reasonable subscription rates.
For this and any other info, I'd be happy to share my limited research.
I am the shirleygirl. shirleygirl@iceman.ca for more Canadian info!
I am going to a Tax sale In Alberta on Nov 28 2003.
I called the city office they will try to sell any unpaid taxed properties for public ****Must Reach Senior Investor status before posting URL's*** was told that they will put a reserve on the properties of the assesed value , if the properties do not sell they become the property of the city with a clear title.Should you win a property you will be given a clear title on it. The previous lein,mortage holders can then apply for any surplus funds. They by Alberta law keep any extra funds in a trust for 10 years. The contact I made tried to convice me not to show up for the tax sale saying (there will be no deals here) I find this distrubing and I will show up at the tax sale anyway just to see. ILL report back after.
Invester from Nortern Alberta
Wow, so there ARE people from Ontario here!
Nice to meet you guys. Check my profile for my email adress!
Maybe we can work together
[addsig]
Indeed there are lien sales also in many parts of Canada. However, you must be very careful. As you all know, tax lien investment is supposed to be one of the safest investments because you must be either redeemed or you own the property. But not always true. in some states in the US as well as many locales in Canada, the foreclosure and deed taking is not by any means insured. When that is the case, you would be a fool to buy tax liens, in my opinion. Good luck and be very careful please!
Richard
Guys
We need to stick together. I am from Canada too and I can't find anything on Tax Liens... I saw we start our own room in Yahoo Messenger. It's easy to log on and whoever is there will chat it up. We can even set up meetings... Email me at **Please See My Profile** if you are interested...
This is what I have figured out thus far. All tax sales for property are handled by the city the property is in, and sold at an auction. These actions are usually the last monday of every september. After you have purchased the property, the original owner has one year after that to pay what you payed for the property plus interest, to get the property back. If he does, the property goes back to him, and you get your money back plus interest. If not, then the property and everything on it belongs to you!
That is all I know so far. I am still doing research on it. If you fellow Canucks find anything lemme know.
I hope this helps.