What happens if there are no bids on the property?
If a property is auctioned and there are no bids from the general public, a representative of Finance and Treasury Board, on behalf of the Minister, may bid on the property. After all internal transfer processes are completed, properties acquired on behalf of the Minister may be listed under surplus properties. Information regarding surplus properties can be found here.
If there are no bids from the general public or bids on behalf of the Minister, the property may be re-offered at a future tax sale.
Can I obtain a property if I pay the taxes owing without it going to tax sale?
No, payment of the outstanding taxes by a 3rd party will not change the ownership of the property.
How can I acquire a property listed prior to tax sale?
The only way to purchase a property prior to tax sale is through a private sale between a purchaser and the property owner.
Does a mortgage and or other liens follow the property?
No. If a property is sold at a tax sale, it is sold free and clear of any financial liens and encumbrances.
Is there a list I can be placed on to be contacted regarding upcoming sale?
No, this is not a service currently offered. For information on upcoming tax sales, please refer to Ways to research properties listed for sale.
What other cost is there in addition to the purchase price of a property?
The sale of each property includes any applicable outstanding taxes, penalties and tax sale fees associated with the property. Payment of the Transfer Tax (1% of purchase price or assessment value; whichever is greater) and registration fee are also required to register the property deed in the purchaser’s name.
Do I need a lawyer to purchase property at a tax sale?
A lawyer is not necessary to complete the transfer as it is internally coordinated between Finance & Treasury Board and Service New Brunswick.
When can I make changes to the property I purchased at tax sale?
All tax sale properties are subject to a 30-day redemption period. During the redemption period, the purchaser may not conduct activities that may reduce the value of the property, including, but not limited to, parceling off land, removing raw material, or making any changes to the property. The purchaser may only conduct necessary repairs or services on the property to protect the integrity of the real property, pre-approved by the tax sale team.
Once the redemption period has expired and upon registration of the deed in the purchaser’s name, the purchaser has full ownership of the property.
How may I protect my property?
It is important to note that some of the properties sold through tax sale are owner occupied. However, there are several ways in which purchasers can protect the property purchased at tax sale during the redemption period, including: securing the property, making necessary repairs and acquiring insurance. There are restrictions on the repairs that can be completed during the redemption period and all repairs are subject to approval and may not be reimbursed if the property is redeemed. Please find additional information on the redemption period here.
Can the property be viewed prior to the sale?
It is important to note that properties sold through tax sale are private property and some may be owner occupied until sold through the tax sale process. Please find information related to the properties being sold at a tax sale here.
What is a title search and why is it recommended?
A title search provides property related information including public and court records, chain of title, property tax records, legal descriptions, liens or other claims, and easements.
Where does the tax sale take place?
In person auctions take place at designated areas throughout the province on a quarterly basis (January, April, July and October). The time and location of each sale is provided at the time the properties are advertised. Please find further information on scheduled tax sales here.