Tax Sale Property in Portage la Prairie, Manitoba
542 TUPPER ST N
PIN: 0205500.000 >
Property Unique ID: Xjw09dAK
Minimum Bid$2,268.95 CAD
Manitoba tax sale properties buyer's guide
Before you go for a tax sale public auction you should consider the following:
Before you make a final decision to buy a tax sale property, be aware of the following:
- The municipality does not hold the title of the estate or any other matter concerning the lands to be sold.
- The property value can be much higher or much less than the minimum bid (reserve bid).
- A municipality may set any terms or conditions for the sale of a property to be sold for taxes.
- It is up to you to examine this property to see if it is a good investment and to investigate the statutory requirements and tax sale provisions.
This process is buyer beware. You must undertake due diligence with respect to all aspects of the property.
Therefore, it is important to do your homework before a public auction. In order to get as many details about the property as possible, you will need to obtain an up-to-date Title Search Report. Members can order reports directly from www.taxsaleshub.ca. An in-house title report specialist will prepare a "Title Search Report" in simple, easy-to-understand language.
By having a Title Search Report updated 1-2 business days before the auction is going to be held, you will be able to see if any new mortgages or other significant interests against the property have been registered since your first search was conducted. You might find that they have and decide not to go for a public auction.
You may drive past the property, but site visits are not available.
Use Google Maps Street View on the property page to have a closer look. Since Google Maps photos could be deprecated and if the property you are interested in is not so far, it's a good idea to drive there and have a look yourself.
IMPORTANT: YOU ARE NOT ALLOWED TO GO ON PROPERTY TERRITORY.
There is no vacant possession. The successful bidder will not receive a key to the property. The successful bidder is responsible for the eviction process if necessary.
You should investigate zoning, planning or building restrictions, and work orders.
Some municipal websites have a "Find Your Zoning" page, where you can find out zoning by the roll number. And, of course, you can always go to City Hall and do your research.
We recommend retaining a lawyer to protect your interests before submitting a bid.
Decide how much you are willing to pay for the property
Since the tax sale is held as a public auction, others will likely be bidding. The person with the highest bid will be permitted to purchase the property. No one else will be given the opportunity to make the purchase. You should decide the maximum amount you are willing to pay for a tax sale. The amount has to be no less than the minimum bid set per property.
Examine the terms under which a redemption can be applied.
Depending on the municipality, different terms for a redemption period might be applied. For example, the City of Winnipeg provides a 1 (one) year redemption period from the date of a tax sale. Other municipalities can apply other regulations for a redemption period. You will need to check the municipal website or contact a City Hall office to clarify if the redemption period would be applied for the property you are going to buy.