All posts by Navtaj Chandhoke

Navtaj Chandhoke is a veteran Canadian Real Estate investor, Master Coach/Mentor/Speaker & Canadian hard money lender . Join now Canadian REI Club membership to attend upcoming No $$ Down Canadian Real Estate Seminar LIVE in Canada and become next Canadian Real Estate Apprentice

Announcement: RCMP commends Navtaj’s article on Grow up Houses

Navtaj Chandhoke is a Canadian-based real estate investor, speaker, author and educator. He is the founder of the Professional Real Estate Investors Group (PREIG) Canada and World Wealth Builders leading real estate investor’s education, support, network and mentoring program. He has been proving real estate education since 1993.

On April 27th, Navtaj Chandhoke received an email from RCMP’s Communication Strategist of Serious and Organized Crime, Marc-Andre Massie. This email stated that they commend his recent article in reference to the RCMP’s strategy to combat illegal marijuana grow operations and the related organized crime groups. The Professional Real Estate Investors Group (PREIG) Canada is supporting the RCMP initiative and is engaged with promoting the Marijuana Grow op houses Initiative (MGI).

In this article, Navtaj Chandhoke stressed that every Canadian Real Estate Investor should always do their due diligence and if required, check the RCMP website to verify if the property has ever been a Grow op houses. Grow op houses can be health hazards causing problems such as mold. Due to the nature of this crime, it has the potential of devaluating the property prices as well as the value of all the properties in the neighbourhood which in return will affect any investment strategies.

Every province has different laws, in many cases it is not part of the law to give full or even partial disclosure to the new home buyer or the real estate investor.

The majority of Canadian Real Estate investors prefer to invest in safer communities where they can create good rental pools for people who prefer to rent or lease.

The RCMP is launching the website to let Canadian’s know which properties were grow ops, which can raise a red flag. The RMCP is also seeking approval from Navtaj Chandhoke to reference his articles into their monthly MGI, which gets sent to their entire force. They have also requested to continuously receive more insights from Navtaj about upcoming events, information and support that would benefit the RCMP.

Your success is our Passion!

Announcement: Acquiring Tax Sale properties in Canada

Secrets of Super Wealthy Professional Real Estate Investors part 1 of 10

Many provinces in Canada levy property tax on Real Estate based upon the current use and value of the land and this is the major source of revenue for most municipal governments in Canada. While property tax levels vary between municipalities in a province there is usually common property assessment or valuation criteria laid out in provincial legislation. The municipality has the right to collect property taxes owing even if they have to sell the property to recuperate the property taxes owing. These properties are never listed on MLS or Real Estate Brokers. This is another secret of super wealthy Professional Canadian Real Estate Investors and or Apprentices to acquiring Tax Sale properties in Canada.

Acquiring Tax Sale properties in Canada

The secret of super wealthy Canadian Professional Real Estate Investors and or Apprentices have used this secret to build huge wealth. The city or municipalities are not required to sell these properties at market value, instead they sell them for the amount of taxes owing. This way the Professional Real Estate Investors can buy a property for 10 cents a dollar. The key is to learn the act, law and the process to find and finance them and than make a great fortune.

Acquiring Tax Sale properties in Canada

What is a Canadian Property Tax Sale

Simply put, tax sales are public auctions where properties are sold to the highest bidder.  Throughout the year, cities, towns, villages, townships and municipalities, in each province, compile a list of properties against which taxes have been outstanding for at least two consecutive years.  After this two year period, the municipal treasurer prepares a tax arrears certificate and registers it against the property in question.

This certificate gives an accurate description of the property and indicates that the land will be sold by public sale if all taxes are not paid to the municipality within one year of the registration of the certificate.

In spite of the municipality's efforts to collect these taxes, they often go unpaid and the properties are put up for auction, allowing the public and the super wealthy Canadian Professional Real Estate Investors and or Apprentices the opportunity to purchase these properties and this is how you get real bargains.  Property can be bought for as low as 10 cents on a dollar.

Professional Canadian Real Estate Investors and or Apprentices can buy property "free and clear" at a tax defaulted deed auction. These taxing agencies sell property to the highest bidder in an effort to recover the original taxes and costs due.

 Why the Canadian Property Owners don’t pay their Property taxes?

There are many reasons why properties are sold for non-payment of taxes. Some of the most common ones are financial difficulties, law suits, ignorance, death of an owner (with no apparent will or heir), owner living abroad and not realizing his/her obligations, owner moved and cannot be traced, disputes of ownership with no party resorting to the courts for settlement, etc....

How to become a Professional Canadian Real Estate Investor and/or Apprentice

Proper education and training makes all the difference!  By becoming an Apprentice of World Wealth Builders and a member of the Professional Canadian Real Estate Investors and or Apprentices website, you will have access to: 

  1. Current Listings of Tax Sale Properties being sold for delinquent taxes
  2. Sheriff sales (property seized by local authorities)
  3. Canadian Grants

The Property Tax Sale advertisements are gathered directly from many different sources including the websites of the city and the provincial courts. 

What kind of properties get SOLD In Canadian Tax sales

They can include vacant lands (such as bush lots and timberland), improved lands (such as farms, cottages and houses), commercial or industrial properties, and occasionally islands. They vary from small lots to large parcels, with hundreds of acres. 

How do the Professional Canadian Real Estate Investors and/or Apprentices BUY these properties at basement bargain prices

First you have to learn the proper law, act and its implementation including the exemptions. Proper education, training and knowledge in order to obtain where, when and how to do it is mandatory unless otherwise you want to buy a lemon....

There are two ways in which tax authorities sell properties: either by public auction or public tender, with sealed/closed bids.

Public Auction for Canadian Tax Sale Properties

This format is similar to other auction formats.  An auctioneer accepts bids from several bidders and then recognizes the highest bidder as the winner.  The place, date, and time of the auction will be clearly defined by the municipality and can be found in the auction advertisement on our website.

If you are the highest bidder, you will be required to pay the amount that was bid and any applicable land transfer tax to the auctioneer by money order, bank draft or certified check.

Public Tender for Canadian Tax Sale Properties

If you wish to submit a tender, you can ordinarily obtain a tender form the municipal office, which will be identified in the sale advertisement on our website. Your submitted tender should be accompanied by a deposit, usually 20 percent (but specified by the sale advertisement) of the tender amount, in the form of a money order, bank draft or certified check.

Your tender form, along with the deposit, should be enclosed in a sealed envelope, which is labeled as "tax sale for" and a short description or municipal address of the property to indicate which property the tender is for. Then, enclose that envelope in a second envelope, addressed to the treasurer of the municipality, as indicated in the sale advertisement and on our website.

The above article provides general commentary of an educational nature. It does not constitute advice for any specific person or any specific set of circumstances. Because circumstances vary, readers should consult professional advisers in order to obtain advice that is applicable to their specific circumstances.

Your success is our Passion!

Real estate Investment Training Programs in Canada

 The Real estate Investment Training Programs in  Canada you receive with World Wealth Builders is not like anything you'll receive from any other training company. It involves opportunities such as a trip to the court office to capture virgin deals where there is no other competition. We teach you how to locate and find deals and from there pursue them to the homeowners.

All the paperwork is provided for you to make an instant offer for any property, anywhere on the globe. The practical field training will involve meeting the owners or the properties, and inspecting the property.

real estate investment training programs

Continue reading Real estate Investment Training Programs in Canada

Advance Canadian Real Estate Investment Coaching / Mentoring

Real Estate Investment Coaching by WorldWealthBuilders.com provides you with a dedicated success coach who works with you on a monthly basis to develop specific sales and marketing strategies for your growing business. WorldWealthBuilders.com

Real Estate Investment Coaching
Real Estate Investment Coaching

 

 

 

 

 

 

Real Estate Investment Coaching can do so much more than just kickstart your Canadian real Estate Investments They can also help you through every stage of your growth.

 

 

 

 

 

Please provide us with the information below so you can receive latest updates on real estate investement events. Upon submission of this form, check your email. You should see an email in your inbox from [email protected] asking you to confirm your email address. After that, please add [email protected] to your address book, to receive future updates.

First Name*
Email*
Canadian Cell Phone*

 

 

 

 

 

With Real Estate Investment Coaching by WorldWealthBuilders.com, an expert coach who will help you:

  • Evaluate which creative, messaging and content approaches will work best to meet your goal
  • Establish consistent leads and close more deals.
  • Create strategies that work for Canadian Real Estate investments
  • Apply your strategies to covert virgin leads into deals.
  • Free yourself from the frustration of trying to figure out deals and marketing strategies on your own!
  • Assist you to put the Canadian Real Estate Investment deals together.

You have several advanced coaching plans to choose from, so you can select the one that’s right for you and your budget.

Advance Coaching Options Price
30 min Coaching

 

$1
3 Months
(1 hour/month)
$448/month
3 Months
(4 hour/month)
$998/month
6 Months
(1 hour/month)
$398/month
6 Months
(4 hour/month)
$848/month

 

 

 

 

 

 

 

 

 

For more info call 416-409-7300 or email [email protected]

Your success is our Passion!

Power of Sale Notice

Being a Canadian Real Estate Investor one should be aware of the Ontario Mortgage Act which have rights and privileges for the lender(bank) as well as the home buyer. As a professional Real Estate investor you will find knowing the Ontario Mortgage act gives you the edge to assist the distressed home owner as well as help the lender to resolve by doing so making a huge profit for themselves. When a home owner defaults the lender (bank) have the right to call off the mortgage and collect all the delinquent payments along with legal fees, administration fees, property management and the court costs. Since a default becomes a dispute, both the property owner and lender have to follow certain law to protect each other’s rights.Power of sale notice is issued by the lender upon default.

power of sale notice Continue reading Power of Sale Notice

REI Club Real Estate Winnipeg-Manitoba

Professional Real Estate Investors Group (PREIG) Canada

&

World Wealth Builders

REI Club Real Estate Winnipeg-Manitoba mentoring, mastermind, support and networking meeting is a platform where Canadian Real Estate investors can mingle and network. REI Club Real Estate Winnipeg-Manitoba, investors, REI club, real estate provide education, mentoring, coaching advance training for Real estate investments.

  Continue reading REI Club Real Estate Winnipeg-Manitoba

REI Club Real Estate Montreal-Quebec

Professional Real Estate Investors Group (PREIG) Canada

&

World Wealth Builders

Speed networking for Real Estate investors

REI Club Real Estate Montreal-Quebec Networking & Support meeting

When TBD

Time: 6:30 PM - 9:30 PM

Where: 5101 Buchan Suite # 250, Montreal-Quebec
Montreal, QC H9P 1C5

Continue reading REI Club Real Estate Montreal-Quebec

Real Estate Mentor

Real Estate Mentor is a word which was founded several decades ago in Greek Mythology. Whether it was used then, the significance still remains the same till today.

A  Real Estate mentor is a wise influential person or supporter who provides you with helpful information and guides you through a path towards success. Real Estate Mentors are also interested in formulating an understanding environment in which the people being mentored are encouraged to discuss their needs and circumstances willingly with confidence. Continue reading Real Estate Mentor

Homeowners vs Renters in Canada

According to Statistics Canada, in 2005, 37% of people were home renters and 63% of people were home owners. Most home renters would love to be home owners but choose to rent because of lack of money available for a down payment, unfavorable credit or simply are not making enough money to carry a mortgage. When you are renting for said term outlined in the rental agreement, you are making your landlord a very rich person. In this process, you are paying down his mortgage and putting cash in his pocket every month. At the end of your rental term, you walk away with nothing. Knowing this most people neglect the units and do not take pride in their living space and that is why most of the rental units are substandard. Continue reading Homeowners vs Renters in Canada

Home Inspection Clause

How to write home inspection clauses when you are buying or selling Real Estate can make a difference between a deal maker or breaker. A typical home inspection clause by a Realtor is usually sufficient for average Home buyer or seller. But if you are sophisticated Real Estate Investor, you need to protect yourself with proper wording.

home inspection clause

  • What is the purpose of inspection clause?
  • Does a home inspection condition give a Home buyer a right to cancel the
    Purchase and sale agreement or the contract any time ?
  • Is the Property owners is entitled to a copy of the home inspection report if they want to share the cost of inspection?
  • If the report shows only minor problems, is the seller entitled to just fix the problems and ask the property buyer to complete the transaction?
  • What happens if the buyer does not obtain a home inspection at all and then tries to get out of the deal?
  • Who can be the home inspector?

In general, the ethics have indicated that when buyers are trying to satisfy any condition, including a home inspection condition, they must act honestly, reasonably and in good faith.

If you are buying then the following home inspection condition shall be in your contract

"This agreement is conditional upon the inspection of the property of the purchaser's choice and expense, and receipt of a report satisfactory to him, in his sole and absolute discretion within ten banking days failing which this agreement becomes null and void"

Then you are not satisfied with the inspection report, then you can ask for the deposit to be returned without any deductions and sign mutual release at the same time.

As a result, many sellers try to remove the words "sole and absolute discretion" from home inspection condition clauses.

If you are selling and you must insert following wording to protect yourself by  Including additional language that if the amount to correct all deficiencies is less than $1,000, then the seller has the right to correct the deficiencies before closing or within thirty days and have the right to have a copy of inspection report. The inspection must be carried out by licensed or certified home inspector who carries error and omission insurance.

If you are a buyer and any change is made to the home inspection condition clause, you need to review the changes carefully with your Realtor and Real Estate lawyer as your rights might be impacted.

Sellers are not entitled to a copy of the inspection report unless it says so in the clause itself.

If the buyer does not conduct the home inspection at all, or perhaps brings in an
Un qualified person to conduct the inspection, then the buyer must remove this condition in writing within ten banking days as per original contract.

That is why any home inspection condition must be drafted carefully and approved by your Real Estate lawyer before the offer is being presented.

World Wealth Builders offers many unique, practical, out of the box real estate investor apprenticeships which offers the student hands on, in the trenches style instruction to facilitate both a different mindset as well as a successful and lucrative real estate investment business. To find out more, please go to http://www.WorldWealthBuilders.com/live.html
The above information is provided as a guideline and is not intended to give a professional legal advice. Please consult a real estate lawyer for their opinion on your particular case

“Permission to Reprint“

You have the permission to re-print this article, as long as you don’t make any changes and include the bio.

home inspection clause

Your success is our Passion!