Tax Sale

Suburbs

152 Shanley St.

Advertisement of tax sale

SALE OF LAND BY PUBLIC TENDER

Municipal Act, 2001

Ontario Regulation 181/03

Municipal Tax Sales Rules

THE CORPORATION OF THE CITY OF KITCHENER

TAKE NOTICE that tenders are invited for the purchase of the land(s) described below and will be received until 3:00 p.m. local time on February 28, 2019 at the City of Kitchener, City Hall, 200 King Street West, Procurement Division, 4th Floor, Kitchener, Ontario N2G 4G7.  The tenders will then be opened in public on the same day at the same address at the City of Kitchener, City Hall, Scott Room, 9th Floor, at 3:30 p.m.

Description of Land(s):

PIN 22326-0146; Lots 447 and 448 and Part Lot 446, Plan 376, being Part 1 on WDR150, in the City of Kitchener, Regional Municipality of Waterloo, being 152 Shanley Street, Kitchener, Ontario; Tender No. T19-041 

Minimum Tender Amount:   $ 443,925.79   

Tenders must be submitted in the prescribed form and must be accompanied by a deposit of at least 20 per cent of the tender amount, which deposit shall be made by way of a certified cheque/bank draft/money order payable to the municipality.

Except as follows, the municipality makes no representation regarding the title to or any other matters relating to the land(s) 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 and any taxes that may be applicable, such as a land transfer tax.

The municipality has not obligation to provide vacant possession to the successful purchaser. The municipality does not provide an opportunity for potential purchasers to view this property.

According to the last returned assessment roll, the assessed value of the land is $396,500.00

A copy of the prescribed form of tender is available on the website of the Government of Ontario Central Forms Repository under the listing for the Ministry of Municipal Affairs or may be found on the City’s website.

For further information regarding this sale please see the City’s website at www.kitchener.ca/TaxSale or contact:

Margaret Fisher, Director of Procurement
The Corporation of the City of Kitchener
Procurement Division;Financial Services 4th Floor
200 King Street West
Kitchener, Ontario
N2G 4G7
margaret.fisher@kitchener.ca
Phone: (519) 741-2200 ext. 7214

Tax sale information and supporting documents

The City of Kitchener is advertising the property at 152 Shanley St. ("the Property") for public sale by tender for a second time under the Sale of Land for Tax Arrears provisions of the Municipal Act. The advertisement will be placed in The Record on Saturday, Jan. 26, 2019 and then again on Feb. 2, 9, and 16, 2019. The Tender will close Feb. 28, 2019 at 3 p.m.

The sale of the Property under the Tax Sale Provisions of the Municipal Act is not a typical real estate transaction. Although the city is under no obligation to provide interested parties or potential purchasers with any information, the city is providing the information that is available on this website as a courtesy only. The city makes no representations or warranties with respect to the Property or any information provided on this website. All interested parties and potential purchasers are required to complete their own due diligence and satisfy themselves.

 Responses to tender questions
The tender form speaks to a 14-day closing period from the date of notification. How many days after February 28 will the winner be notified? 

When the winning bidder is selected, do they enter into a formal Agreement of Purchase and Sale with the City or is the Tender to Purchase the extent of the legal contract?

  • The Tender to Purchase is the only contract.

Can the Tender to Purchase be conditional on the tenderer obtaining financing?

Can the Tender to Purchase be conditional on the tenderer conducting further due diligence?

What are the expected fees and adjustments in addition to the tender amount?

  • Any costs incurred to complete the tax sale that were not accounted for already in the cancellation price, which would be less than $2,000.

It is noted that the purchaser will be responsible for any additional taxes owing – how much are they approximately? 

  • The cancellation price as of February 1, 2019 is $ 445,541.34, which includes February taxes. An additional amount of approximately $1,100 will be added to the final payable amount. 

How much were the 2018 taxes for the property?

  • In 2018, the property taxes were $12,460.65. 

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