Montreal Tax Sale Properties

[Navtaj Chandhoke]

Montreal Tax Sale Properties

What is the tax sale process?

An updated list of properties being put up for sale will be distributed, along with a copy of sale conditions. Anyone wishing to buy a property may consult the unofficial plan made available for further information.

The tax sale starts at 10:00 a.m. A city official reads the terms of sale and then begins auctioning off the properties in the order in which they appear on the list.

Please note that an owner can pay the outstanding balance at any time prior to the sale and the property in question will be removed from the list. Properties may, accordingly, be taken off the list at any time of the day.

When a property is put up for sale, anyone wishing to bid must step up to one of the microphones and do so. Bidders must give their name, address, occupation and state if they are bidding for themselves, for another person or for a business entity.

The property will, after three calls, be sold to the highest bidder.

The buyer must at that time pay the full amount of his or her bid along with any applicable taxes (GST/QST), in cash, certified cheque or bank draft. Neither credit nor debit cards will be accepted.

Once a sale is finalized, the next property is auctioned.

Is the list of properties to be sold kept up to date?

The final list of properties to be sold for failure to pay back taxes will be distributed on the morning of the sale.

What documents do I need to participate in the sale?

If you are acting on behalf of another individual

If you are acting on behalf of another individual, you must also produce a power-of-attorney signed by the person you are representing. Otherwise, you will be deemed to be acting on your own behalf.

If you are acting on behalf of a business entity (corporation)

A person representing a business entity must produce the following documents:

A true copy of the resolution or bylaw adopted by the board of directors of the business entity designating you as its legal representative.

And

What happens if my certified cheque does not cover the exact amount?

If a buyer only has a certified cheque for an amount greater than the auction price, the city will refund the difference within 10 days of the sale. However, the city will give the buyer a credit for that amount applicable to the purchase of any other property for the duration of the sale.

Example: Mr. Gagnon has purchased a property for $10,000. He gives the city a certified cheque made out for $30,000, so the remaining credit of $20,000 can be applied to the purchase of other properties during the sale.

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[Navtaj Chandhoke]

The list of properties that are up for sale will be avaible :

September 10, 2014 in an edition of Le Devoir;

October 1st, 2014 in an edition of Le Devoir (additional statement);

Please note that a fee is charged for copies of the list.

Points of service

more info at

SALE OF LAND BY PUBLIC TENDER

Top 10 Investment Strategies for FRE*E, Reserve your seat for next Canadian Real Estate Investment training LIVE, Canadian Real Estate Investment apprenticeship Click Here

Empowering Canadian Real Estate Investors since 1993.

1-416-409-7300

[Navtaj Chandhoke]

The list of properties that are up for sale will be avaible :

September 10, 2014 in an edition of Le Devoir;

October 1st, 2014 in an edition of Le Devoir (additional statement);

Please note that a fee is charged for copies of the list.

Points of service

more info at

SALE OF LAND BY PUBLIC TENDER

Top 10 Investment Strategies for FRE*E, Reserve your seat for next Canadian Real Estate Investment training LIVE, Canadian Real Estate Investment apprenticeship Click Here

Empowering Canadian Real Estate Investors since 1993.

1-416-409-7300

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