Category Archives: Uncategorized

Warren Buffett’s advice for 2017

Worth over $75Billion and considered to be one of the world’s most successful investors, Warren Buffet was asked what his advice is for being successful in 2017.

His answer was Christmas cards should not just be for Christmas but should be for the whole year.

Buffet writes a letter or a handwritten note almost everyday which typically includes a line of gratitude, or a few words of praise.warren-buffett-knewrich

Buffet says that whether its business or pleasure, ultimately everything is personal.

To relate it back to real estate – next time you are flipping areal estate deal, be more personal and see the difference it makes.

Panic sellers feel much more comfortable once you connect with them on a personal level.“Hand written notes add a lot more value, respect and trust” says Navtaj Chandhoke, founder of Professional real estate investors group (PREIG) Canada.

It is the businesses and people who endear themselves to others, that are the ones which will endure.

Mike Flint, Warren Buffet’s personal airline pilot says that Buffet loves to have deep conversations and is more interested in hearing about your childhood, what makes you mad, what makes you laugh and what makes you cry rather than talking all things investment.

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As Buffet says, “Trust grows not from reason, but from the heart. How people feel has more binding power than how they think. Besides, life is so much fun when you’re trusted and worthy of trust.”

So don’t just communicate, connect. Warren Buffet’s advice for 2017.

Connect with fellow real estate investors at Professional real estate investors group (PREIG) Canada at the next networking meeting.#3

 

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“If you don’t find a way to make money while you sleep, you will work until you die.” ― Warren Buffet

Rule No. 1: Never lose money; Rule No. 2: Don’t forget Rule No. 1. – Warren Buffet

Every saint has a past. Every sinner has a future. –Warren Buffet

 

Sale of land by public tender Belleville, Ontario

The Corporation of the City of Belleville

take notice that tenders are invited for the purchase of the Sale of land by public tender Belleville, Ontario land(s) described below and will be received until 3:00 p.m. local time on Wednesday, April 19, 2017, at the City Hall Council Chambers, 169 Front St., Belleville, ON K8N 2Y8.

The tenders will then be opened in public on the same day as soon as possible after 3:00 p.m. at the City Hall Council Chambers, 169 Front St., Belleville.

Sale of land by public tender Belleville, Ontario

Description of Land(s):

roll no. 12 08 030 100 00500 0000, 40 great st james st, pin 40514−0091 lt, lt 9 pl 98 thurlow; belleville; county of hastings, file hsbe14-003-tt

Minimum Tender Amount:$20,046.56

roll no. 12 08 040 125 11100 0000, pin 40491−0227 lt, pt lt 13 con 1 thurlow pt 1 21r3246; belleville; county of hastings, file hsbe14-004-tt

Minimum Tender Amount:$6,397.23

roll no. 12 08 060 195 00350 0000, pin 40458-0189 lt, pcl plan−1 sec 21m166; blk 22 pl 21m166 sidney; s/t lt45851; belleville; county of hastings, file hsbe14-006-tt

Minimum Tender Amount:$9,217.40

roll no. 12 08 100 040 00100 0000, pin 40524−0160 lt, pt lt 8 con 3 thurlow as in qr401936; s/t qr73300 & qr33110 as amended by pl1317; s/t qr213474, qr458300; belleville; county of hastings, file hsbe14-008-tt

Minimum Tender Amount:$8,493.85

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 (or board) and representing at least 20 per cent of the tender amount.

Sale of land by public tender Belleville, Ontario

 

Except as follows, the municipality makes no representation regarding the title to, existing interests in favour of the Crown, environmental concerns or any other matters relating to the land(s) to be sold. Any existing Federal or Provincial Crown liens or executions will remain on title and may become the responsibility of the potential purchaser. 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 and the relevant land transfer tax.

The municipality has no obligation to provide vacant possession to the successful purchaser.

Note: H.S.T. may be payable by successful purchaser.

For further information regarding this sale and a copy of the prescribed form of tender contact:

Susan Howard,
Manager of Revenue and Taxation
The Corporation of the City of Belleville
169 Front St.
Belleville, ON K8N 2Y8
(613) 967-3241
http://www.city.belleville.on.ca or https://bids.belleville.ca

DISCLAIMER

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.

 

 

Speaking Engagements
Navtaj Chandhoke can be your next key note speaker for real estate/sales/marketing office meeting or Canadian real estate investment conventions, expos or trade shows. Please contact us for topics and availability.
Please contact us directly at Pam@WorldWealthBuilders.com or 647-393-6100 to set up a session at your meeting or convention.

 

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Sale of land by Public Tender, Wollaston – Ontario

municipal act, 2001

The Corporation of the Township of Wollaston

Sale of land by Public Tender, Wollaston - Ontario

take notice that tenders are invited for the purchase of the Sale of land by Public Tender, Wollaston – Ontario lands described below and will be received until 3:00 p.m. local time on May 10, 2017, at the Township of Wollaston Municipal Office, 90 Wollaston Lake Road, Coe Hill Ontario.

The tenders will then be opened in public on the same day as soon as possible after 3:00 p.m. at the Township of Wollaston Municipal Office, 90 Wollaston Lake Road, Coe Hill.

Sale of land by Public Tender, Wollaston – Ontario

Description of Land(s):

Roll No. 12 54 000 015 33505 0000; Wollaston Lake Rd,; PIN 40123-0160(R); Part of Lot 15, Concession 8, Township of Wollaston, designated Parts 1 and 2 Plan 21R22997; County of Hastings; File No. 15-01

Minimum Tender Amount:
$5,640.64

Roll No. 12 54 000 020 25500 0000; PIN 40124-0213(R); Lots 1 and 2, North Side of Spring St Plan 290; Township of Wollaston; County of Hastings; File No. 15-02

Minimum Tender Amount:
$5,951.12

Roll No. 12 54 000 025 01200 0000; Lower Faraday Rd; PIN 40124-0090(LT); Part Lot 16 Concession 10 Wollaston as in QR37235; S/T execution 75-0000016, if enforceable; Wollaston; County of Hastings; File No. 15-03

Minimum Tender Amount:
$5,101.64

Roll No. 12 54 000 020 30900 0000; High St; PIN 40123-0060(LT); Lot 30 Plan 549; Wollaston; County of Hastings; File No. 15-04

Minimum Tender Amount:
$5,079.28

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 lands 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:

Verna Brundage
Treasurer/Deputy Clerk
The Corporation of the Township of Wollaston
90 Wollaston Lake Road
Box 99
Coe Hill ON K0L 1P0
613-337-5731
wollaston@bellnet.ca

DISCLAIMER

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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Sheriff’s Sales of Lands 546 Church Street, Markham

Sheriff’s Sales of Lands

under and by virtue of a Writ of Execution filed with the Sheriff of the regional municipality of york, dated august 8, 2016, under writ file number 16-1821, the real and personal property Sheriff’s Sales of Lands 546 Church Street, Markham of estrelita co also known as estrelita ganzales co, Debtor, at the request of citi cards canada inc., Creditor(s), I have seized and taken in execution all of the right, title, interest and equity of redemption of estrelita co also known as estrelita ganzales co, Debtor(s) in and to:

all and singular that certain parcel or tract of land and premises situated, being PT BLK 196 PL 65M4306 PTS 24 AND 25 ON 65R33796; subject to an easement for entry as in YR1886546; subject to an easement over PT 25 ON 65R33796 in favour of PT BLK 196 PL 65R4306 PTS 20,21,22,23 65R33796 as in YR1886546; together with an easement over PT BLK 196 PL 65M4306 PT 22 and 23 ON 65R33796 as in YR1886546; city of markham. newmarket land titles office for the land titles division of york (NO.65)

Municipally known as:

546 Church Street, Markham, Ontario L6B 0V9

All of which said right, title, interest and equity of redemption of the estrelita co know as estrelita ganzales co, Debtor(s), in the said lands and tenements described above, I shall offer for sale by Public Auction subject to the conditions set out below at 50 eagle ST. W. 1ST FLR newmarket, ON L3Y 6B1, 905-853-4809 EXT. 3 on thursday, July 13TH , 2017 at 10:00 a.m.

Jul 13,2017 Sheriff’s Sales of Lands 546 Church Stret, Markham Conditions:

The purchaser to assume responsibility for all mortgages, charges, liens, outstanding taxes, and other encumbrances. No representation is made regarding the title of the land or any other matter relating to the interest to be sold. Vacant possession is not included in the sale of this property. Responsibility for ascertaining these matters rests with the potential purchaser(s).

Jul 13,2017 Sheriff’s Sales of Lands 546 Church Street, Markham Terms:

Deposit of 10% of bid price or $1,000.00, whichever is greater.
Payable at time of sale by successful bidder;
To be applied to purchase price
Non-refundable.
Ten business days from date of sale to arrange financing and pay balance in full at 50 eagle ST, W, 1ST FLR newmarket, ontario.
All payments to be provided in cash or by bank draft, certified cheque or money order made payable to the Minister of Finance.
A Deed Poll provided by the Sheriff only upon satisfactory payment in full of purchase price.
Other conditions as announced.

this sale is subject to cancellation by the sheriff without further notice up to the time of sale.

Note: No employee of the Ministry of the Attorney General may purchase any goods or chattels, lands or tenements exposed for sale by a Sheriff under legal process, directly or indirectly.

Date: June 7, 2017

Sheriff, of the Regional
Municipality of York
50 Eagle ST. W Newmarket, ON L3Y6B1 ( 905-853-4809 x3)

DISCLAIMER

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.

Flipping for instant profit LIVE real estate training seminar (Crash Course)
Reserve your seat now at
www.Flipping4Profit.ca
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Canadian Creative Financing Apprenticeship
Image

Canadian Real Estate Investors Coaching & Mentoring
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Eyewitness Boot on the Ground Canadian Real Estate Investors LIVE field Training
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We buy houses all CASH, Fast closing
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P.S. Success isn’t a matter of chance, it’s a matter of choice. So it’s up to you to make the right choice to become successful. If you don’t know what to do it starts with making the choice to register for this LIVE real estate investors training in your town now at www.Flipping4Profit.ca and making sure you make the right choice to SHOW UP!!!

Learn more to earn more! http://www.Flipping4Profit.ca

Sheriff’s Sale of Lands 34 Leeward Drive Brampton

Jan 20, 2017 Sheriff’s Sale of Lands 34 Leeward Dr, Brampton On L6S 4V7

under and by virtue of a Writ of Seizure and Sale issued out of the Superior Court of Justice at Milton to me directed, against the real and personal property of Paul Emilio Serpa, Defendant, at the suit of Bank of Montreal, Plaintiff, I have seized and taken in execution all the right, title, interest and equity of redemption of Paul Emilio Serpa, in and to:

34 Leeward Drive, Brampton On L6S 4V7

All of which said right, title, interest and equity of redemption of Paul Emilio Serpa, defendant in the said lands and tenements described above, I shall offer for sale by Public Auction subject to the conditions set out below at, 7765 Hurontario Street, Brampton Ontario on January 20, 2017 at 10.00 a.m.

Sheriff’s Sale of Lands 34 Leeward Drive Brampton

conditions:

The purchaser to assume responsibility for all mortgages, charges, liens, outstanding taxes, and other encumbrances. No representation is made regarding the title of the land or any other matter relating to the interest to be sold. Responsibility for ascertaining these matters rests with the potential purchaser(s).

terms:

Deposit 10% of bid price or $1,000.00, whichever is greater
Payable at time of sale by successful bidder
To be applied to purchase price
Non-refundable
Ten business days from date of sale to arrange financing and pay balance in full at 7755 Hurontario St, Suite 100, Brampton On.
All payments in cash or by certified cheque made payable to the Minister of Finance.
Deed Poll provided by Sheriff only upon satisfactory payment in full of purchase price.
Other conditions as announced.

this sale is subject to cancellation by the sheriff without further notice up to the time of sale.

Note: No employee of the Ministry of the Attorney General may purchase any goods or chattels, lands or tenements exposed for sale by a Sheriff under legal process, either directly or indirectly.

Date: December 1, 2016

Joan Zammit
Sheriff
7755 Hurontario St,
Brampton, ON
L6W 4T6
905-456-4701

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DISCLAIMER

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.

Speaking Engagements
Navtaj Chandhoke can be your next key note speaker for real estate/sales/marketing office meeting or Canadian real estate investment conventions, expos or trade shows. Please contact us for topics and availability.
Please contact us directly at Pam@WorldWealthBuilders.com or 647-393-6100 to set up a session at your meeting or convention.

Sheriff’s Sale of Lands 429 Laurentian Ave, Mississauga

Jan 20, 2017 Sheriff’s Sale of Lands 429 Laurentian Ave, Mississauga On L4Z 2J7

under and by virtue of a Writ of Seizure and Sale issued out of the Superior Court of Justice at Toronto to me directed, against the real and personal property Sheriff’s Sale of Lands 429 Laurentian Ave, Mississauga of Natalie Mucha, Defendant, at the suit of Toronto Palliative Care Associates, Plaintiff, I have seized and taken in execution all the right, title, interest and equity of redemption of Natalie Mucha, in and to:

429 Laurentian Ave, Mississauga On L4Z 2J7

All of which said right, title, interest and equity of redemption of Natalie Mucha, defendant in the said lands and tenements described above, I shall offer for sale by Public Auction subject to the conditions set out below at, 7765 Hurontario Street, Brampton Ontario on January 20, 2017 at 10.00 a.m.

conditions:

The purchaser to assume responsibility for all mortgages, charges, liens, outstanding taxes, and other encumbrances. No representation is made regarding the title of the land or any other matter relating to the interest to be sold. Responsibility for ascertaining these matters rests with the potential purchaser(s).

terms:

Deposit 10% of bid price or $1,000.00, whichever is greater
Payable at time of sale by successful bidder
To be applied to purchase price
Non-refundable
Ten business days from date of sale to arrange financing and pay balance in full at 7755 Hurontario St, Suite 100, Brampton, ON.
All payments in cash or by certified cheque made payable to the Minister of Finance.
Deed Poll provided by Sheriff only upon satisfactory payment in full of purchase price.
Other conditions as announced.

this sale is subject to cancellation by the sheriff without further notice up to the time of sale.

Note: No employee of the Ministry of the Attorney General may purchase any goods or chattels, lands or tenements exposed for sale by a Sheriff under legal process, either directly or indirectly.

Date: December 1, 2016

Joan Zammit
Sheriff
7755 Hurontario St,
Brampton, ON
L6W 4T6
905-456-4701

mailinglistDISCLAIMER

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.

NBA player made more money from real estate than playing for Miami Heat in 2015

For most NBA players, their playing careers are over just as the rest of us are settling into our chosen professions. The difference between them and us (in addition to, you know, athletic ability) is that, in some cases, they’ll retireNBA player made more money from real estate

in their mid-to-late-30’s with a lot of money and a lot of time on their hands.

So what will they do with their money and their time? For some former players, investing in real estate becomes their game of choice, but that game comes with a lot of risk.

From TheRealDeal.com:

In his final year in the NBA, Danny Granger took home more money from his real estate investments than he did from his Miami Heat paycheck . “That’s when it really, really hit me,” he said Monday. “What am I doing? My knees hurt, my back is killing me. That was it. I was done.”

Granger’s audience of professional basketball players erupted in a knowing laugh. Some of the veterans, like Steve Blake and Kevin Martin, knew only too well the pain of hitting the wood day after day. Others, such as Atlanta Hawks star Paul Millsap, are still in their prime, and still others, such as Boston Celtics player Kelly Olynyk, only recently broke into the NBA.

Age differences aside, the players had two things in common: they made a lot of money playing basketball and they are thinking of putting some of it into real estate.

Read more at 

http://therealdeal.com/2016/06/28/ex-ballers-to-nba-stars-dont-let-real-estate-investors-scam-you/

Luol Deng, a former refugee from war-torn South Sudan,

is 30 years old and extremely rich. Over 11 years of playing

professional basketball in the NBA, the 6-foot-9-inch-tall

small forward has made close to $100 million in gross wages alone.

It’s only natural that Deng spends a good deal of thought on 

what to do with all that money. Recently, much of that thinking has revolved around real estate

We buy houses in Canada

If you are a property owner and in need of instant cash,  we buy houses in Canada can assist you. Professional real estate investors group (PREIG) Canada members with extensive knowledge, background and training; support we buy houses in Canada

Quick CASH for your House now

You may be familiar with the advertisements of Canadian real estate investors who acquire houses for cash with fast closing to fulfill the needs of sellers. You may ask yourself what sort of business is buying houses? There are actually many reasons for people to purchase houses in Canada, and just as many reasons for people to sell their houses.

We buy houses in Canada

Once the house is purchased, repairs are performed on it. Afterwards, it is sold for a profit. We can get the repairs done for a very low price as construction companies would give concession to people who offer them several projects to work on. The house is sold after the completion of repairs, then we  repeat the same. This process is called “Fixing and flipping houses in Canada”.

Why Home owners need CASH now

You may wonder: Why would a property owner be interested in selling their house to Canadian real estate investors for a discounted price. There could be many reasons behind it, which include situations not under their control. Deaths, divorce, sickness, loss of job, depression, desperation, drugs and alcohol are a few of the reasons where a property owner becomes a panic seller.

The main reason we purchase houses for cash in Canada is that some people are in desperate need of instant cash due to situations such as foreclosure, judgements, delinquent payments etc.

Sometimes, a reason behind it is that somebody has found the job they want and need to move to a different location. Other times a couple gets divorced and selling the home allows quick liquidation of assets.

Reasons for selling it for CASH

The reason for Canadian homeowners to sell their houses to Canadian real estate investors is to avoid going through a lengthy process of a real estate agent. It is very expensive and undesirable for the homeowner to manage the cost of repairs, commission of agent etc. which would not be the case if he/she is dealing with a cash buyer.

Canadian home owners selling their home privately may not be the best choice. They have to make many repairs, allow strangers into their home and it is much easier to just sell to a cash buyer.

Our process of buying houses in Canada involves giving out cash to the owner and taking the property. It is very straightforward and there are no difficulties or costs.

When the Canadian homeowner wishes to sell their house to a cash buyer they can call them to see the house. Canadian real estate investor would make an offer after looking through the house. A closing date would be set by both parties after they have negotiated the price. The investor or their lawyers will make all the paperwork. The entire process might last for only a few days.

You can benefit from selling your house to a cash buyer in many ways, if you wish to sell your home right away.

The major reasons why you want to use a Canadian real estate investor include:

1. You do not need to put your house on the market by yourself
2. It is much slower selling it through an agent
3. You are not obliged to pay any commission
4. You do not need to wait for anyone to qualify for a mortgage.
5. You can avoid foreclosure and power of sale
6. You can save yourself from bankruptcy or consumers proposal
7. You are not required to set appointments with buyers
8. Avoid paying real estate commission since you are selling directly to the investors.
9. We purchase houses in Canada “as-is” and “where-is”
10. There is no need to perform repairs
11. Wind, fire or water damage properties
12. Leakage in the basement
13. Bad tenants
14. Property needs repair
15. Dead parents house for sale
16. Tax sale
17. Auctions
18. Relocation services
19. Partner purchases out
20. Smudge properties
21. Former grow op
22. Former meth labs
23. Jinni Houses
24. Deficient of cash to finish the repairs
25. Personal problems
26. Drugs, addiction or sickness
27. Need cash
28. Travel
29. Family problems
30. Anything other – imperative,

Overall selling to a Canadian real estate investor is the best option; it doesn’t involve a middleman and finishes much quicker. The process of going through a cash buyer would be a lot faster for a homeowner than if they had to go through an agent while attempting to sell their house. That is the reason why we purchase houses for cash in Canada and close fast,Call or text us at 1-416-409-7300

Serving Canadians who must sell their property now.

What to do with Power of Sale in Ontario

What to do with Power of Sale in OntarioThe Ontario lenders or bank will start   power of sale proceedings if the property owner is behind mortgage payments or the mortgage is due in full. There are several other reasons where the lender can exercise power of sale as well. The lender wants to recover their investment by selling the property at fair market value.

Most of the properties of power of sale listings on multiple listing services (MLS) are sold at fair market value by licensed realtors of Ontario. By no means they are considered fire sale or at bargain prices. But the lender and bank will sell power of sale properties in Ontario “ as is” and “where is” with no warrenties.

What to do when you are facing power of sale? The options are very limited but the rights of property owner and the lender are protected by Ontario mortgage act. Let us explore options for the property owner facing power of sale.

 

Sale by Property OwnerSale by property owner

In the interim period, the property owner could continue to market the sale of the property by hiring a realtor or by themselves privately. Usually the property owner will be able to sell and save money if the property is marketed at fair market value.

 

Selling the Property to an InvestorSelling the property to a investor:

The property owner can call investors and sell it for cash with fast closing. This works if the professional real estate investor is able to come up with the cash and close the deal really fast. Sometimes the Ontario lawyers require more time. But the property owner can assist them to gather all information required to close it swiftly.

 

Lenders Proceedings too QuicklyLenders proceedings too quickly

 

If the Lender or bank issued a Notice of Sale too quickly, the proceedings may be a nullity. This could arise if demands for full payment were made and the time limit in the demand had not expired. In such cases, the mortgagee would require a Court Order allowing the power of sale proceedings to take place.

 

Pay up arrears and costsPay up Arrears and Costs:

 

Most of the time, the Lender or bank will require payment of the entire balance outstanding. Under the Act, the property owner can simply pay up the arrears and costs. If that takes place, then the mortgage is back in good standing. The enforcement proceedings of power of sale are at an end.

 

Pay arrears an d costs in courtPay arrears & costs in  court:

 

In some cases, the Lender or bank will have instituted legal proceedings including an action for recovery of possession of the property. If that is the case, the property owner still has the right to pay up the arrears and costs as well as $100 for security, and the proceedings will be stayed.

The accelerated principal need not be paid. If judgment is not been recovered, the action will be dismissed. If judgment has been recovered, the proceedings in the action will be stayed provided that “no sale or recovery of possession of the land

or final foreclosure of the equity of redemption has taken place.”

 

RefinancingRefinancing

This is very common recommendation by Ontario mortgage brokers and their agents. Low income/credit score/arrears/equity can be challenging to refinance. Banks and other lenders may not consider since the property owners are facing power of sale in Ontario.

Canadian hard money lendersCanadian hard money lenders

There are handful Canadian hard money lenders who might be able to assist the property owner who is facing power of sale in Ontario. Their rates and fees can be quite hefty. They can be a short term solution.

Findinf a Partner Joint VentureFinding a partner/Joint venture:

The property owner who is going through the proceedings of power of sale in Ontario can find a joint venture partner. The joint venture partner can inject some cash for partial ownership. This strategy requires expertise and great amount of knowledge.

Request for InformationRequest for Information:

 

The property owner is entitled to certain information from the lender or bank including the amount of the accelerated principal. Upon receipt of the request, the lender or bank is obligated to respond within 15 days, failing which no further proceedings may be taken.

If the lender or bank fails to respond without a reasonable excuse or, if the response is incomplete or incorrect, any rights that the lender or bank may have to enforce the mortgage shall be suspended until the lender or bank has complied.

 

Requisition an assignmentRequisition an Assignment:

The property owner as well as all other creditors is entitled to an assignment of the mortgage upon payment in full of the principal, interest and expenses. The right in favor of each party is separate and independent of one another. The lender or bank is obligated to reply and comply with such requests.

 

Technical IssuesTechnical Issues:

 

The power of sale notice must comply with the contract and the Act. If there are any technical or legal issues they should be raised at once and rectified by the lender or bank. Courts will usually respond to such issues and deal with the matter equitably. The property owner might be awarded costs and additional time to pay.

Injunction by CourtsInjunction by courts:

On fair and equitable grounds the property owner will be awarded an injunction by the courts. This stops the proceedings of power of sale. One condition is the mortgage payments must be kept up to date until final disposition. This will not work if the property owner has no hope of refinancing.

Partial PaymentPartial Payments:

In many cases, the property owner will have made a partial payment. This frequently occurs without the active participation of either party. The lender or bank issues the Notice, and the mortgagor’s regular cheque is cashed. This means that the proceedings will have to start over again unless the lender or bank specifically indicates that it will accept the cheque as a “partial payment only”, without staying its proceedings.

 

Cost of Power of sale proceedingsCost of Power of sale proceedings:

The Act requires the lender or bank to set out its costs being claimed in the power of sale proceedings. Failure to do so can result in delay, or the Court failing to award costs. These are some of the steps that might be taken by the property owner can exercise their right to protect.

 

Seek legal opinion in writingSeek legal opinion in writing

 

The property owner shall always seek the legal help. When a property owner is facing power of sale in Ontario, one of the best options is seek legal advice in writing from a competent Ontario real estate lawyer.

 

Ontario Tax Sale properties Merrickville-Wolford

municipal act, 2001

sale of land by public tender
The Corporation of the Village of Merrickville-Wolford

Ontario Tax Sale properties Merrickville-Wolford
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 March 16, 2017, at the Merrickville-Wolford Municipal Office, 317 Brock Street W., Merrickville Ontario.

The tenders will then be opened in public on the same day as soon as possible after 3:00 p.m. at the Merrickville-Wolford Municipal Office, 317 Brock Street W., Merrickville.

Description of Land(s):

Roll No. 07 14 711 010 12500 0000; 72 Corktown Rd, Merrickville; PIN 68108-0111(LT); Part Lot 18 Concession 1 Wolford as in PR95143 (firstly) S/T & T/W PR95143; Merrickville-Wolford; File No. 14-01

Minimum Tender Amount:$55,105.17

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, crown interests, or any other matters relating to the lands to be sold. Responsibility for ascertaining these matters rests with the potential purchasers. Any interests of the Crown encumbering the land at the time of the tax sale will continue to encumber the land after the registration of the tax deed.

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:

Sheila Kehoe
Manager of Finance-Treasurer
The Corporation of the Village of Merrickville-Wolford
317 Brock Street W.
P.O. Box 340
Merrickville ON K0G 1N0
(613) 269-4791 Ext 228

DISCLAIMER

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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