sale of land by public tender
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 May 4, 2017, at the Cobalt Municipal Office, 18 Silver Street, Cobalt Ontario
The tenders will then be opened in public on the same day as soon as possible after 3:00 p.m. at the Cobalt Municipal Office, 18 Silver Street, Cobalt.
Description of Land(s):
Roll No. 54 08 000 007 11600 0000; 41 Prospect Ave, Cobalt; PIN 61386-0138(LT); Parcel 18440 Section SST; Lots 253 to 256 Plan M47NB Coleman; Cobalt; District of Timiskaming. File No. 15-06
Minimum Tender Amount:
Tenders must be submitted in the prescribed form and must be accompanied by a deposit in the form of a money order or of a bank draft or cheque certified by a bank or trust corporation payable to the municipality and representing at least 20 per cent of the tender amount.
Except as follows, the municipality makes no representation regarding the title to or any other matters relating to the land to be sold. Responsibility for ascertaining these matters rests with the potential purchasers.
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, HST if applicable and the relevant land transfer tax.
The municipality has no obligation to provide vacant possession to the successful purchaser.
For further information regarding this sale and a copy of the prescribed form of tender contact:
The Corporation of the Town of Cobalt
18 Silver Street
P.O. Box 70
Cobalt ON P0J 1C0
We believe the information contained in this article to be accurate. It is presented with the understanding that we are not engaged in rendering legal, accounting, or investment advice. When professional assistance is required, utilize the services of a licensed real estate broker, lawyer, accountant, or other consultant as may be required.
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