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Old 04-08-2015, 07:08 PM   #1
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Default 2015 Calgary Property Tax Sale

Hope I am not breaking any rules of this forum by starting this thread Travis. If I am I apologize and feel free to move or delete it as you see fit.

I read a book on alternative property purchasing a few years ago. One chapter is about property tax sales. Where a municipality or county or the province auctions off properties that are delinquent on their property taxes.

The examples in the book were for Ontario, where they have a blind bid type mail in auction. Here in Calgary it's different, you have to go down and bid on the properties which have reserved bids. The owners have, if I remember correctly, up until the day of the sale to pay the taxes and save their house. Calgary and Edmonton sales only happen once a year.

The reserve bids came out today Property Tax Sale List and the auction is on the 16th.

I am just wondering if any CPers, or if you Travis, have any experience with this auction? Is it a, for lack of a better word, good way to buy property? Some of the pros and cons and pitfalls of purchasing this way? Can a "pre-approved" mortgage be obtained on one of these houses?

I know you can't see inside the property, you can only see it from the street, so you have no idea the condition of the interior...as a con.

Any insight and comments are appreciated.
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Old 04-09-2015, 10:30 AM   #2
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Does a property tax sale deed give you immediate possession and title to the property?

Or can the past-due-tax owner redeem the property after you have bought it and take it back from you?
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Old 04-09-2015, 04:28 PM   #3
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Thanks for showing this link. I didn't know they had these. I can't find a deal in the lot based on those reserve prices though. I wonder what they do when they don't sell.

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Does a property tax sale deed give you immediate possession and title to the property?

Or can the past-due-tax owner redeem the property after you have bought it and take it back from you?
I'm sure it's a final sale. I'm guessing the title would be in the city's name at the time of the sale and they're probably done with it once it's gone. The old owner won't have any interest at this point other than a potential buyer.
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Old 04-09-2015, 05:58 PM   #4
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Originally Posted by HockeyIlliterate View Post

Or can the past-due-tax owner redeem the property after you have bought it and take it back from you?
From the link: The Municipal Government Act provides that the owner may redeem this property at any time prior to the time of the sale by paying all taxes which are in arrears. Section 423(3) states that “There is no right under Section 415 to pay the tax arrears in respect of a parcel after it is declared sold.”
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Old 04-10-2015, 08:21 AM   #5
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Originally Posted by OMG!WTF! View Post
Thanks for showing this link. I didn't know they had these. I can't find a deal in the lot based on those reserve prices though. I wonder what they do when they don't sell.
No problem. The Calgary and Edmonton sales are once a year but they have, if I remember correctly, a monthly sale for properties in smaller towns and rural properties. You can google Alberta Tax sales to find the site.

The way Ontario handles tax sales you don't actually have to be at the sale. You mail in a blind bid and the auctioneer opens all the bids and the property goes to the highest bidder. Not sure if there is a reserve bid in Ontario.

From the list, regarding what happens to unsold property.

"The City of Calgary may, after the public auction, become the owner of any parcel of land that is not sold at the public auction."
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Old 04-10-2015, 01:10 PM   #6
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Really expected the abandoned house near mine in West Hillhurst would be there. No connected power or gas, just falling apart.
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Old 04-11-2015, 06:54 PM   #7
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So what happens to the mortgages on these houses. Wouldn't he bank just pay out the taxes on any of these with value so that they can for lose instead of losing the asset?
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Old 04-13-2015, 07:35 AM   #8
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I am just guessing as I have never been to one of these auctions, but that may be the reason for the reserve bid? The proceeds of the sale go to the bank and the city pockets anything left? If the property doesn't sell the city pays the bank?
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Old 04-13-2015, 08:41 AM   #9
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Why are there properties on that list that owe less than a year's worth of taxes. (Or zero for that matter.) Why is the city auctioning those properties?
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Old 04-13-2015, 09:52 AM   #10
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They mostly look like townhouses or condos. I presume they are also in arrears of the condo fees as well. Perhaps the condo board can force the sale, or have an influence on it?
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Old 04-13-2015, 03:59 PM   #11
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63 ABERFOYLE CL NE owes negative $261. So they overpaid by $261.

Just checked on Google maps and that is a house.
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