- Tax Sales Hub
- South Bruce
Tax Sale Property in South Bruce, Ontario
1125 Bruce Rd. 12 Formosa
ROLL: 41 05 060 004 06900 0000 >
Property Unique ID: rAexePjJ
- Status: Inactive
- Sale Type: Public Tender
- Tax sale date: July 28, 2022
- Release date: July 09, 2022
- Province: Ontario
- Municipality: South Bruce
- ROLL: 41 05 060 004 06900 0000
- PIN: 33225-0191
- Property size:
Minimum Bid$191,040.26 CAD
TAKE NOTICE that tenders are invited for the purchase of the land described below and will be received until 3:00 p.m. local time on July 28, 2022, at the South Bruce Municipal Office, 21 Gordon St. E., Teeswater Ontario.
The tenders will then be opened in public on the same day as soon as possible after 3:00 p.m. at the South Bruce Municipal Office, 21 Gordon St. E., Teeswater.
The municipality makes no representation regarding the title to, crown interests or any other matters, including any environmental concerns, relating to the land to be sold. Responsibility for ascertaining these matters rests with the potential purchasers. Any interests of the Crown encumbering the land at the time of the tax sale will continue to encumber the land after the registration of the tax deed. The assessed value according to the last returned assessment roll may or may not be representative of the current market value of the property.
The land in Roll No 41 05 060 004 06900 0000 does not include the mobile home situated on the land.
Transfers of properties that contain at least one and not more than six single family residences and are transferred to non-residents of Canada or foreign entities, are subject to the Province’s Non-Resident Speculation Tax (NRST).
This sale is governed by the Municipal Act, 2001 and the Municipal Tax Sales Rules made under that Act. The successful purchaser will be required to pay the amount tendered plus accumulated taxes and any taxes that may be applicable, such as a land transfer tax and HST.
The municipality has no obligation to provide vacant possession to the successful purchaser.
Roll No. 41 05 060 004 06900 0000; 1125 Bruce Rd. 12, Formosa; PIN 33225-0191 (LT); PT LT 28 CON A CULROSS AS IN R181187; SOUTH BRUCE; File No. 20-01 According to the last returned assessment roll, the assessed value of the land is $215,000 Minimum Tender Amount: $191,040.26
Ontario tax sale properties buyer's guide
Before you submit a tender for 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 can be much higher or much less than the tender minimum.
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.
Therefore, we highly recommend you to check the title and executions to see what will stay on the title and become your duty after the execution. In most cases, if at the time the tax deed is registered the estate is subject to a crown interest (such as a mortgage, lien or execution), when you become the holder it will continue to be subject to that crown interest. Is the property subject to attributable holders ' easements, limits and/or adverse possession? Does the condition of the property, land use, zoning, etc. fit into your property plans?
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 tender.
You may drive past the property, but site visits are not available.
Use google map street view on the property page to have a closer look. Since google map photos could be deprecated and if the property you are interesting 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 are responsible for any Federal or Provincial liens on title. We recommend you do a title search before submitting your bid.
Title Search Report can be ordered from the tender page on www.taxsaleshub.ca. It'll be ready in 1-2 business days.
You should investigate zoning, planning or building restrictions, and work orders.
Some municipal websites have "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.
You are responsible for any environmental concerns if there are contamination issues with the property.
We recommend to retain a lawyer to protect your interests before submitting a bid.
In order to determine what interests will affect a property after a tax sale, you will need to obtain an up-to-date title search report and an execution search report. Members can order reports directly from our site. An in-house title report specialist will prepare a "Title Search Report" in simple easy to understand language. The Report will tell you if any encumbrances will remain against the property after the tax sale.
By having a Title Search Report Updated on the morning that tenders must be received, 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 want to withdraw your tender. You can do this by either faxing or hand-delivering a request to withdraw your tender directly to the treasurer’s office. It must be received by the treasurer before the final time for receiving tenders has passed.