Going, Going, Gone.

Last Thursday we took Frankie to her first of many tax sales. She laughed, she cried, she ate, she passed out and she was our little good luck charm. We were cautiously eying three properties: one we were certain would go for more than our little bank book would allow (which it did) and two that we thought would likely do the same.

When the first property we liked came up Frankie and I were at the back of the room doing the baby pace but listening carefully to the auctioneer. He called out the taxes owing and R bid. He called for advances on this bid and nothing. Second call - nothing. Third call - still nothing. Sold! We had just bought a little home outside the city for $3100.

Maybe it was all the anticipation or feeling like we just won the property lottery but I wanted to run up and give R the hugest victory kiss. Or at least the hugest victory high five (in which we both jump in the air and high five at the same time). Looking around the room though Frankie and I decided that this might be best reserved for the parking lot afterwards.

It's not a mansion and its not ready to move in. At the same time its not lop-sided or falling off a cliff. Some where right in the middle (but more on the side of move in and mansion than lop-sided and cliff if I had to pick one). There will be work to do. Maybe lots of work. But with a starting price of $3100 and no mortgage we've got a little wiggle room.

Because it was a tax sale the original owners still have another six months in which they can pay the taxes owed and redeem the property. Given that it's been three years since they've paid any taxes and that we've dug up a bit of the back story we're pretty sure that this is unlikely to happen. Nonetheless we don't get to start poking around until then (the end of January or so). In the meantime we'll probably drive by it three times a week, debate if we should rent it or sell it and watch the home depot fliers almost as regularly as our dads to see if the laminate flooring or gyprock go on sale :)

Fraught with Anticipation for the Tax Sale