Grand Forks Tax Sale Information
INTRODUCTION OF TAX SALE PROCESS
(1) The lowest amount for which a parcel of property may be sold for is the upset price.
The upset price is equal to:
- Delinquent and arrears taxes plus interest to date of sale.
- Current taxes and associated penalties.
- 5% of the foregoing amounts.
- Land Title Office fees in the amount of $.
Advise all persons of the upset price and the number of properties up for auction.
(2) The sale is an open auction with bid acceptances from the floor. The highest bidder at or above the upset price shall be declared the purchaser. There will be three calls for other bidders before a property is declared sold. If there are no bids, the City shall be declared the purchaser. Additionally, the City of Grand Forks may bid on properties.
(3) The purchaser has no legal rights to the property until one year has expired from the date of the tax sale.
(4) The owner has one year in which to redeem the property by paying back the upset price plus interest at the rate prescribed by section 11(3) of the Taxation (Rural Area) Act.
(5) At redemption, the purchaser is paid back the bid amount plus interest from the date of the tax sale. Refunds take up to three weeks and during this period interest is not paid to the purchaser.
(6) If the property is not redeemed within the year, the bidder (purchaser) is reminded that the property purchase tax is payable at a rate of 1% on the first $200,000 of the fair market value and 2% on the balance. Further information is available from the Consumer Taxation Branch.
(7) The City makes no comments or claim of knowledge about the parcels being offered for sale and give warning to all those who are thinking of bidding that unless they have personally inspected the property they should exercise caution.
