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All
tax sale listings are advertised in a similar manner. Notification
of sale consists of a legal description and, at times, will also
include an address and the name of the assessed owner(s). Descriptions
of these properties tend to be quite brief and often require contacting
the municipality holding the sale in order to learn more about each
property.
You
will notice in our "Sample Listing" that notification is given regarding the
time and place of the public tender or public auction. Next comes a legal description
of the lands which are to be sold, along with a dollar figure representing
the minimum amount at which bidding can occur. A statement indicates
that the successful purchaser must pay in full, at the time of the
sale, the amount of the successful bid. This is usually paid by
cash, money order, or by bank draft or cheque certified by a bank
or trust company. A brief comment follows regarding the municipality's
responsibility and a statement is made regarding what statutes and
rules are governing the sale. Finally, the name of the contact person
is given in the event that further information is required.
In Ontario, municipalities have the option of holding their sales either by
public tender or public auction.
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