Another way buying a home
Do you want to buy a home 68% of the market price?
The most common way of buying a home is … searching properties on realtor.ca, viewing some of them in person, putting an offer in and finalizing ‘Agreement of Purchase and Sale’.
I am introducing another way of buying a property. It is called “A sale of land by public tender”.
There is a famous saying which is ‘there are two things for certain in life: death and taxes!’. We can’t avoid death. Eventually we all die. It is just a matter of timing. I could die in 30 years or I could die this afternoon. Another certainty in life is that we can’t hide from the taxman. Maybe I should say ‘taxperson’ to be gender neutral. This taxperson is all powerful. She can even freeze your bank account if you don’t pay taxes. She can take away your home as well if you don’t pay property taxes for 2 years or more. If that is the case, the property will be put up for sale by the city. The minimum bid amount is the total tax being owed and some extra admin fees.