THE CORPORATION OF THE CITY OF TIMMINS
WHAT HAPPENS AFTER THE TAX SALE?
- Minutes of the tender opening will be completed within 5 business days after the tax sale.
- Once the minutes are complete, all bidders will be contacted either by mail or email if one is provided along with a copy of the minutes of the tender opening.
- If you are the successful bidder, the letter you will receive will state that you will have 14 calendar days from the date of the letter to submit the balance of your tender plus all applicable transfer fees owed to the Municipality.
- If you are the successful bidder and fail to pay the remainder of your balance, then you forfeit your deposit to the Municipality
- If you are the successful bidder and decide that you no longer want the property, you forfeit your deposit to the Municipality
- If you are the second highest bidder, the Municipality will hold your deposit until the highest bidder completes the process. If the highest bidder fails to fulfill their obligation, then the second highest bidder becomes the highest bidder. This individual will have 14 calendar days from notification to submit the balance of your tender plus all applicable transfer fees owed to the Municipality. Failure to do this will result in the forfeiture of the deposit to the Municipality and the property will be deemed a failed tax sale.