Sheriff’s Sales of Lands

Hello everybody......I never imagined we could have our first meetup in the courthouse. :)

Actually I was waiting for the number of members of the group to reach a critical mass before calling for the first meetup then I came across the announcement below and thought that some of you might be interested in this opportunity.

In a Sherrif's sales you might be able to buy property for a fraction of its market value. But on the other hand there is a higher level of risk because you are buying the property as is, without showing, without inspection, without representation and sales are final. Therefore due diligence is required. This particular property is around 10-12 years old and is probably still in good condition but before bidding you need to collect as much information as possible about the property. This includes:

1- Visiting the property (from the outside) and if possible visiting an identical or very similar neighbouring property. Finding photos or older virtual tours is always better than nothing.

2- Getting a title search that can reveal vital information about the property, such as what mortgages are currently registered against the property, any easements or restrictive covenants that may affect the land and if there are any surveys registered on title.

3- Getting an execution search which provides details of any court judgements against the property owner. If the order involves the “Crown” you will want to steer clear from the property. That’s because a Crown interest on a property does not disappear once a property is sold, but remains with the property, even after new ownership.

4- Obtaining a Comparative Market Analysis. (Let me know if you need help with that).

5- In this particular case obtaining information about the condominium.

I know that some of you enjoy high adrenaline levels and might decide to jump in and bid. Others might be interested in watching and learning.

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Sheriff’s Sales of Lands D25-619 Wild Ginger Ave, Waterloo, Ontario

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 of [Names removed], Defendant, at the suit of Royal Bank of Canada, Plaintiff, I have seized and taken in execution all the right, title, interest and equity of redemption of [Names removed], in and to:

D25-619 Wild Ginger Ave, Waterloo, Ontario

Unit 44 Level 1 Waterloo Standard Condominium Plan No. 416 and its appurtenant interest

PIN: 23416-0044

All of which said right, title, interest and equity of redemption of [Names removed], 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, the Waterloo Region Consolidated Courthouse, 85 Frederick Street, Kitchener at 11:00 AM on the 20th day of September, 2017.

Sep 20,2017 Sheriff’s Sales of Lands
D25-619 Wild Ginger Ave, Waterloo, Ontario 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).

Sep 20,2017 Sheriff’s Sales of Lands
D25-619 Wild Ginger Ave, Waterloo, Ontario 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 the Finance Office, Waterloo Regional Consolidated Courthouse, 85 Frederick Street, Kitchener.

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: 08/10/17 Month/Day/Year

Jenna Ferguson
Sheriff, Regional Municipality of Waterloo
Kitchener, ON
N2H 0A7