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Free Ontario Tax Sale Property Listings

Monday, February 28, 2011

Helping to avoid unnecessary financial loss

In this edition of our Company Blog we would like to address a common issue in regard to property redemption and unnecessary financial loss.

Please take a moment to read the helpful information below.

 

Helping to avoid unnecessary financial loss


Generally when you hear the saying "It sounds too good to be true", it's because in many cases it is.

A common issue I have heard a great deal about in the past has been the high volume of individuals who 'jump the gun' when purchasing tax sale properties.  I'm talking about when tax sale investors find the perfect property and immediately start pouring their money into researching it when it may very well become futile in the event the property is redeemed prior to the tax sale date.

In many cases these 'perfect properties' will be redeemed prior to the tax sale date, usually because the owner(s) have decided it may be against their best interests to allow the sale of their home or property.  A good practice in helping to avoid this situation is when you have found your 'perfect property', to wait as long as you are comfortable with to see first whether the property is redeemed or not before you begin spending excessive costs on title searches, execution searches, tender packages, etc.
, leaving enough time to allow you to effectively research your investment.   

By following this simple guideline you will likely some time or another, avoid losing your invested time and money due to the redemption of a tax sale property.

Always make sure you have enough time to research your property and be sure not to wait to the last second or you may find you are rushing into something blind and without direction.  Take your time and always remember the moral of the old story The Tortoise and the Hare - "Slow and Steady Wins the Race".


What are Targeted Tax Sale Tips?


Targeted Tax Sale Tips are sent weekly with our 'Tri-Target.com - Upcoming Tax Sales' newsletter and posted frequently in our Company Blog.

Each week the topic will vary from simple tax sale do's and don'ts, to in depth detailed information regarding legislation and much more! 

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