There will be a tax sale for the former Talisman ski resort property.

Friday was the deadline for the receiver, BDO Canada, to finalize a deal for the 16 acre property -- and that didn't happen.

So Grey Highlands will be able to hold a tax sale for the property.

A date for the sale is expected to be picked next week -- it will likely be held in mid December.

Grey Highlands is owed over 1.7 million dollars in back taxes, water and sewer charges.

The municipality was ready to hold a tax sale last fall, before TD Canada Trust stepped in.

The bank had BDO Canada appointed as a receiver to handle the sale of assets, since the bank is owed over four million dollars.

Talisman had been operating since 1963 but closed in March of 2011 due to financial problems.