The cheapest one is going for just under $36,000.
There are a ton of Toronto buildings that are currently getting auctioned off because someone didn't pay off their property taxes.
In a news release posted on June 1, the City of Toronto announced that it will be hosting a "Sale of Land by Public Tender", where a bunch of buildings, vacant spots, and units with outstanding property taxes will be up for auction.
According to the City, 22 properties will be placed for bidding, and anyone interested in buying can put down an offer up until Wednesday, June 29.
So, why is the City putting up all of these properties for sale?
"Once a property has accumulated property tax arrears of two years or more, a Tax Arrears Certificate is registered against the title of the property," the release reads.
"This allows the property to be put up for sale one year after the registration of the Certificate, unless it is paid off in full by the owner or another interested party, such as a lien mortgage holder."
According to the City, the kinds of properties that are put up on these kinds of sales either have huge "outstanding arrears" and might not be in use or the owners of the property have either moved away or died and the next of kin can't be found.
How can I place a bid?
Anyone interested will have to send in an offer on the City's approved form and your bid has to at least meet the minimum tender amount.
To place your bid though, you can grab a "tender package" from the Revenue Services Inquiry and Payment Counter at the North York Civic Centre (which will cost $38.57 to buy). After all of the bids are in, the City will go with the highest offer.
The kinds of buildings that are all up for this auction range from commercial unoccupied units to residential boarded-up properties, some of which still have tenants. There's also an empty lot bidders can try to stake their claim in.
Here's a list of all of the properties that are currently up for sale:
- 440 Birchmount Rd., starting at $954,486.99
- 2627 Eglinton Ave. E., starting at $957,661.58
- 97 Manville Rd., starting at $2,803,178.30
- 99 Toryork Dr., starting at $5,757,232.03
- 222 Spadina Ave., LL, starting at $873,337.45
- 222 Spadina Ave. #16, starting at $2,081,430.51
- 222 Spadina Ave. #9, starting at $35,992.57
- 222 Spadina Ave. #11, starting at $89,858.00
- 222 Spadina Ave. #19, starting at $2,199,319.36
- 222 Spadina Ave. #20-22, starting at $1,133,435.47
- 222 Spadina Ave. #24-25, starting at $2,397,177.40
- 222 Spadina Ave. #28, starting at $66,035.42
- 222 Spadina Ave. #30, starting at $214,381.48
- 222 Spadina Ave. #31, starting at $145,251.95
- 222 Spadina Ave. #32, starting at $194,428.43
- 222 Spadina Ave. #33, starting at $57,720.14
- 222 Spadina Ave. #34, starting at $99,092.60
- 222 Spadina Ave. #35, starting at $72,686.57
- 222 Spadina Ave. #36, starting at $57,506.50
- 222 Spadina Ave. #215, starting at $738,542.95
- 222 Spadina Ave. #217, starting at $357,182.88
- 222 Spadina Ave. #242, starting at $94,142.15
This article's right-hand cover image was used for illustrative purposes only.