Tax Sale Properties?

[dino_martini]

Anyone know anything about this? I saw one of those infomercials about some program of buying Tax Sale Properties in the US and Canada. But Im pretty skeptical. Is there a list of tax sale properties in Calgary? Has anyone ever bought a tax sale property?

[rockym20]

This tactic works better in a recession/depression economy, where property values are declining. When property values are rising as much as they have in Calgary, no one in their right mind would let the City take their property to a tax sale. They would just sell the property first and pay off the taxes with the proceeds.

However, if you want to check this out further, call the City and ask them.

[billy36]

^^ True, but it happens

I believe tax sales are just judicial sales and they are usually listed on MLS, about 7 weeks there a townhouse that I liked, it was in the SW close enough to downtown, and it was listed at 150,000 of course I jumped on the wagon, the process took around a month, and it ended up with 22 offers placed on the property and being eventually sold @ 230,000

townhouses in the same compound sell for 240,000

ok, this was a judicial sale, with some problems with previous owner, some problems with existing tenant, and most of all, u were not allowed to inspect what u were bedding for

so the big question is was it worth it for the guy who bought the place


once things are posted on mls and a realtor is involved, the forces of offer and demand probably will not leave u much room for making an instant profit if that's what ur thinking of.