RESULTS OF SALE OF LAND BY PUBLIC TENDER
Pursuant to Municipal Tax Sale Rules Section 5(4)
The following are the results of the sale of land by public tender, which took place on November 24, 2021 at 3:00 p.m.
Submitted tenders were opened virtually and in a session open to the public at
3:15 p.m. at Niagara Falls City Hall, 4310 Queen Street, Niagara Falls, Ontario.
Description of Lands
- Roll No. 27 25 010 006 07400 0000; 4677 Buttrey Street., Niagara Falls; PIN 64326-0152 (LT); Lots 71, 72, 73, 74, 103, 104, 105, 106 and Part Lane Plan 997 Town of Niagara Falls as in RO706871; Niagara Falls; File No. 18-06
According to the last returned assessment roll, the assessed value of the land is $150,000.
Minimum Tender Amount Required: $ 71,755.55 - View Map
Tenders were to be submitted in the prescribed form and were to be accompanied by a deposit of at least 20 percent of the tender amount, made by way of a certified cheque, bank draft, or money order payable to the municipality
Results pertaining to the successful tenderer are as follows
- The successful tenderer submitted a bid of: $433,000
- Bid was submitted with a deposit of: $86,600
- Name of successful tenderer: 1894279 ONTARIO LTD
- The legal transfer of lands was completed on December 8, 2021.
This sale was governed by the Municipal Act, 2001 and the Municipal Tax Sales Rules made under that Act. The successful purchaser was required to pay the amount tendered plus accumulated taxes and any taxes that may be applicable, such as a land transfer tax and HST.