Ontario Tax Sale Property Forum
Tax Sale Forum => Property Information => Topic started by: batifole on April 08, 2010, 04:34:01 PM
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13. Roll 1435-134-020-23901 - Part Lot 10, Concession 13 being Part 5 on Plan 38R- 184 Municipality of Trent Hills min $20880.59
Info anyone?
Jean
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13. Roll 1435-134-020-23901 - Part Lot 10, Concession 13 being Part 5 on Plan 38R- 184 Municipality of Trent Hills min $20880.59
Info anyone?
Jean
Somebody please let me know if this 2.5 acre island (with causeway), including house on the Trent river is still for sale for under $25,000 ... a day or two before the sale is scheduled. Trust me, it won't last...once the ads are all out and people start to inundate the property, it will be redeemed. PFM and Dave2 will likely visit it by boat.
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unless the guy is dead with no relatives..it will be scooped before the sale..Probably by the nappan island resort group..if they aren't bankrupt
http://blog.johndowning.ca/2008_06_01_archive.html (http://blog.johndowning.ca/2008_06_01_archive.html)
but seriously, you have a 99.9 chance of redemption on this one so I wouldn't spend a penny until 24 hours before, and if this is like bobcaygeon, 30 minutes before..
However if anyone gets out that way..send photos
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unless the guy is dead with no relatives..it will be scooped before the sale..Probably by the nappan island resort group..if they aren't bankrupt
http://blog.johndowning.ca/2008_06_01_archive.html (http://blog.johndowning.ca/2008_06_01_archive.html)
I don't expect the new owners of Nappan Island to be bankrupt anytime soon
http://www.bgshomes.com/Lake_Seymour_Estates/index.php
You guys can relax even if the island is not redeemed because I have way too much on my plate to chase after another island. If I was so stupid to bid I do not want have part of my anatomy to be missing after my significant other finishes with me. Unlike the smarter members of this board like Frank I have not learned how to train her properly yet. Maybe Frank can tell us his secret.
Just a word of caution with the Trent Hills checkerboard, you need more then one lot adjacent to get a building permit even if the zoning shows potential. Trent Hills requires 200 feet of frontage to issue a building permit. All the lots for sale are only 150 feet frontage. Of course you could always take your chances up in summer lane or humphries road first with the market and then with a member of this board's favourite conservation authority.
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That piece is across the river, The Nappan island guys have been trying for several years to build a casino and seven hundred condos etc . oh plus 18 holes .. that have been slaughtered on the rezoning.. My favourite is they expect the city to pay for the road upgrades.."Halloran said he expected any upgrades to that road would be done at the municipality?s expense" between 4 an 7 k of roads have to be improved ( most is gravel and all is substandard)
"They did approve a motion by Deputy Mayor Dean Peters for the applicants to consult with Lower Trent Conservation Authority and to do an environmental assessment to their satisfaction, to carry out a traffic impact study, and to present those reports to council prior to any further consideration of the project."
So all they have to do is convince trent conservation that 700 condos and a golf course on hazard land isnt a problem and that the 100 staff and 700 guest cars plus golfers and casino users ..will have no negative affect to the the local traffic ..as there is 10 houses on the street .....
of course the sewage and waste water wont be an issue as it will be dealt with on the property.. ;D
This is where the MLS falls apart..that entire subdivision dave2 linked to is not even listed
The worst part with this 2 acres is that if it doesnt redeem ( 99.9 that it will be) some idiot will pay way too much.. its on the trent..so is Balsam lake and Gloucester pool so they must be worth the same
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Majority of listings are typical checkerboard that you have to be very careful what you buy. Looked at some but not all as I concentrated on ones where lots were adjacent.
So called Summer Lane properties great for mountain goats but because of that maybe okay for solar panels if you are allowed to cut trees. (note in Northumberland County anything above 2 acres you have to okay from county forrester).
Country Road 4 is tricky because of a stream on the Conservation Authority maps. As a result do not know if the so called rural zoning will allow rezoning or not. Aside from adjacent property owners with other ones these will be probably the ones there will be competition on.
Humphries Road I actually own property right next to ones for sale but as a result of a site visit Friday with lower trent conservation we now (will have) a wetland designation coming for some of them to add to the existing EC. >:( Not really a surprise to me and will be interesting if I can get something workable out of this process or have to confess my sins to the boss. Only saving grace is that she is in southern Europe trying to find a way to get to Finland and then home.) Might be a bachelor for a longer time then I expected this spring if that volcano keeps going.
At this point I don't think I will put in bid for adjacent property even on Humphries road because it is more expensive to develop then mine. Eventually will get around to looking at rest if cottage property does not redeem. Understand from a third party that waterfront is not a bad piece of property.
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To the elders and their wisdom....you were right!!!
Island has redeemed!
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Now the mystery is..did the man just pay his tax.. did an idiot call him trying to do a deal and alert the man..who then paid his tax..or did we have a someone do an endrun and buy the land... this will be worth a look back in 90 days
My bet is some retard called him and offered him some rediculous offer.."since you are going to lose it next week anyways" Owner then went and paid up..
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Majority of listings are typical checkerboard that you have to be very careful what you buy. Looked at some but not all as I concentrated on ones where lots were adjacent.
So called Summer Lane properties great for mountain goats but because of that maybe okay for solar panels if you are allowed to cut trees. (note in Northumberland County anything above 2 acres you have to okay from county forrester).
Country Road 4 is tricky because of a stream on the Conservation Authority maps. As a result do not know if the so called rural zoning will allow rezoning or not. Aside from adjacent property owners with other ones these will be probably the ones there will be competition on.
Humphries Road I actually own property right next to ones for sale but as a result of a site visit Friday with lower trent conservation we now (will have) a wetland designation coming for some of them to add to the existing EC. >:( Not really a surprise to me and will be interesting if I can get something workable out of this process or have to confess my sins to the boss. Only saving grace is that she is in southern Europe trying to find a way to get to Finland and then home.) Might be a bachelor for a longer time then I expected this spring if that volcano keeps going.
At this point I don't think I will put in bid for adjacent property even on Humphries road because it is more expensive to develop then mine. Eventually will get around to looking at rest if cottage property does not redeem. Understand from a third party that waterfront is not a bad piece of property.
I drove out for a look see. I should've just listened to Dave and not wasted my time. >:(
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Now the mystery is..did the man just pay his tax.. did an idiot call him trying to do a deal and alert the man..who then paid his tax..or did we have a someone do an endrun and buy the land... this will be worth a look back in 90 days
My bet is some retard called him and offered him some rediculous offer.."since you are going to lose it next week anyways" Owner then went and paid up..
My sources suggest that it was a neighbour. Owner apparently had not paid taxes for much longer then 3 years (go figure). Apparently did not have good explanation why not. I suggest someone double check in 90 days but I looks like in this one the members of this board and the lurkers were not responsible.
On the other hand do not despair. You still have the potential to be an owner of genuine Northumberland swamp land. No need to travel to Florida if you can have it close at hand.
One big advantage as well is that unlike in the Hamilton Ontario swamps we do not have to worry about alligators. Frank must have drained the pond on his estate.
http://www.thestar.com/news/ontario/hamilton/article/804235--croc-spotted-in-hamilton-pond?bn=1
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Now the mystery is..did the man just pay his tax.. did an idiot call him trying to do a deal and alert the man..who then paid his tax..or did we have a someone do an endrun and buy the land... this will be worth a look back in 90 days
My bet is some retard called him and offered him some rediculous offer.."since you are going to lose it next week anyways" Owner then went and paid up..
My sources suggest that it was a neighbour. Owner apparently had not paid taxes for much longer then 3 years (go figure). Apparently did not have good explanation why not. I suggest someone double check in 90 days but I looks like in this one the members of this board and the lurkers were not responsible.
On the other hand do not despair. You still have the potential to be an owner of genuine Northumberland swamp land. No need to travel to Florida if you can have it close at hand.
One big advantage as well is that unlike in the Hamilton Ontario swamps we do not have to worry about alligators. Frank must have drained the pond on his estate.
http://www.thestar.com/news/ontario/hamilton/article/804235--croc-spotted-in-hamilton-pond?bn=1
That's my pet croco....I call him rocco. Never ate anything bigger than a cat.
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That's my pet croco....I call him rocco. Never ate anything bigger than a cat.
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Gee Frank how times change. I remember a way back I was a lifeguard at Lakeland Beach by Hutches for a summer where you keep your gator; that I was interested in a different type of wildlife. Have some interesting memories of the girls from the Hamilton beach strip. ;D
As this is a family oriented website all I can say is I did my best efforts to ensure that genetically these girls did not become an endangered species. ;)
Anyways back to business. It is obvious that once the Trent Hills waterfront redeemed most people lost interest.
Of 13 properties up for bid over half did not attract any bids. In a number of cases this is what I hoped and now the tough work begins. The most bids on any property were 5 and all bid the
market price or less. I believe that as there were / are some more attractive other properties up for sale elsewhere in other townships and as a result most people that I know from this board were / are busy elsewhere. I didn't detect anyone from Toronto and even some of the local regulars were absent but mainly I think it relates to the market recognition that the offering was correctly perceived to be not of high quality.
Hopefully the board members who were absent will have good luck elsewhere.
There was one potentially good offering with an occupied residence that was not obvious because of a misclassfication (# 14). Winning bid was $67,320 with second right behind it at $66,000. Even this ony attracted 5 bids.
Rest of properties that sold are all checker board and I believe generally won by neighb0urs.
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Dave:
#13 & #14 were both classed as residential; how does this seem to be misclassified, as the rest were classed as vacant land? Am I missing something (again)?
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Dave:
#13 & #14 were both classed as residential; how does this seem to be misclassified, as the rest were classed as vacant land? Am I missing something (again)?
You are not missing anything its just you have to look deeper to find the information issues and go back in time a bit. As I have commented in the past I prefer to work closer to my backyard so I can do a proper investigation. You are correct that the last listing of tax sale properties PARTIALLY shows it as residential, however this was REVISED from the original listing. The summary was revised but not the detail. The original listing showed that both summary and detail were vacant land.
Unlike #13 (Which I didn't bother to look at before it was redeemed), #14 didn't add up (I am going to keep some secrets as to why) so I went for a driveby quietly and when I couldn't find it dropped by Planning to find out exactly what it was. That is when the error came to light and was corrected on the summary but not the detailed listing data.
At that point I had a decision to make and I decided not to compete but I did pass the heads up to some members of this board via private message who I owe favours too. In cases like this I restrict the info to a few to maximize its value and there are some deserving others who did not get favoured this time but wll in future.
I didn't do a legal or other check so don't what it was worth in the end to bid.
Like Netpred said in his followup post the pickings generally in this tender were slim and hopefully they are/were better elsewhere. I have been too busy managing existing holdings to look for a lot of new property.
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Was with some contractors late yesterday who will be doing entranceways and grading for me on some of my winnings. Got to talking about tax sales and this structure (#14) that apparently they had personal knowledge on it as they recognized me from attending some of the bid meetings together.
They are well know locally and have over 30 years experience.
ie. the one that went for $67,000. They estimated that it would cost $250,000 to rehabilitate. ouch; could get a new home for less than that.
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Was with some contractors late yesterday who will be doing entranceways and grading for me on some of my winnings. Got to talking about tax sales and this structure (#14) that apparently they had personal knowledge on as they recognized me from attending some of the bid meetings together.
They are well know locally and have over 30 years experience.
ie. the one that went for $67,000. They estimated that it would cost $250,000 to rehabilitate. ouch; could get a new home for less than that.
Ouch!
I don't know whether to laugh or cry for the poor guy who "won" this one. I'm afraid the same story for the winner of Quinte West.
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I don't know whether to laugh or cry for the poor guy who "won" this one. I'm afraid the same story for the winner of Quinte West.
This is the problem. OTS and those other "educational sites" promote the tax sales game as easy money making. They advertise what appears to be great deals. Show past deals that look great,[ they hooked me]. You seldom hear of the problems except here. Then you hear us whining about the bids going too high. If the problems, pitfalls, and bad buys were displayed we wouldn't get every tom dick and harry trying their luck on tax sales. If these guys knew the amount a real research that was required half of them would drop out.
What we need are some news articles in the paper about "tax sales gone wrong." Not fabrications, but real stories. I am sure there are lots out there to counter those that are sucking the unaware in. Does anyone want to share an unfortunate tale?
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I totally agree. I think in many cases people just get carried away with their bids. I have seen it before and I am sure it will continue. OTS always have in the upper window (you could have got this place for less than third of the assess value. HMM!)About Mississaga 227,111 OUCH!!! I did not see it but I heard it was a piece of crap. Again I think alot people do not do the research necessary and just again get carried away.
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I dont know the property in question so cant comment on its value but in regards to overbidders....Don't feel sorry for people who get screwed and overbid..they are just greedy and stupid and have no one to blame but themselves. ( nothing wrong with greedy..its the stupid thats the problem) These people screwed you out of a deal by overbidding.... They are not lambs led to a slaughter..they are wannabe lions who bit off more then they could chew and choked on it ;D good riddance
I totally agree. I think in many cases people just get carried away with their bids
There is no reason to get carried away as we have weeks for research . This is not like an auction with " heat of the moment" If you overbid at a taxsale it is just stupidity and greed.
That said ..many time we think something is "too much" but is really still a good deal to whoever bought it. For example someone mentions quinte west was expensive. If the person can re-sever the lots ( which I would bet then could easily) then they have a nice little profit . It was too expensive for outsiders like us but for a local it may still be a deal
remember...when I win a bid, everyone thinks I overpaid and when I lose I think the winner overpaid
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My concern in cases like this also revolves around what is to be expected in cases of conduct of members of this board. Refering to an earlier post on this subject:
At that point I had a decision to make and I decided not to compete but I did pass the heads up to some members of this board via private message who I owe favours too. In cases like this I restrict the info to a few to maximize its value and there are some deserving others who did not get favoured this time but wll in future.
Because of the accidental misclassification this opens up a greater potential for a reasonable purchase price. I am cautious about structures generally so did not want to pursue this one myself but I did pass it on. To the best of my knowledge no one from this board was successful, but it does show the risk even when good intentioned. You have to do your own due diligence which is difficult for structures because of inability to examine properly.
I still think one of board members a couple of years ago had the best inspection idea of having a couple of pretty girls along to get access to a site. ;D
Disagree with PFM on one item. Most of us regulars including the writer wait until close to the bid closing before we get serious on the good ones because we expect them to redeem. Thus we normally have a couple of days and not weeks. With structures that is when it can get tricky.
I do agree that if the underlying land value is sound and worth the price a structure that can be rehabilitated can be a real bonus.