Ontario Tax Sale Property Forum
Sheriff Sales / Foreclosures => General Discussion => Topic started by: jude on November 06, 2012, 08:30:59 PM
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Hi,
Anyone get Ottawa results?
Thanks.
Jude
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Bishop Davis 166000 second 87000. 14ish bids
Harbour 87000 second 77600 4 bids
Prince of wales redeem 1 hour before
Land 20100 one bid
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Anybody have any input on Bishop Davis? I looked at it and it is a total tear down, beside the public access and parking to a very busy beach with people right at your property line. I know there was an issue recently on this beach of property owners trying to keep general public off the beach and they failed. Is there something I don't know about this property? I think the second bidder would have done OK.
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I bid 66 and yes it was a total knock down... I know the winner is a big real estate guy, lots of properties. Actually one of my rentals I bought off him. I think he bought with emotion, not numbers.
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I bid 66 and yes it was a total knock down... I know the winner is a big real estate guy, lots of properties. Actually one of my rentals I bought off him. I think he bought with emotion, not numbers.
Dogma:
Assuming what you have said is correct, big real estate guys do not buy a tax sale double the next bid unless they really want it. I suspect he may have more property in the area and maybe doing an assembly, but as I don't usually work in the Ottawa market cannot give any more insight.
I am more interested in how you obtained a vaccination against the "Last minute redemption bug" that seems to be going around in other parts of Ontario. For me personally I would love to find a cure for that bug and of course the "lose beers to Netpred bug that I alone seem to get"
Just count your blessings that the last minute redemption bug did not strike this one and you at least had your chance. Too bad you were not the second bidder, I am sure he might be interested in buying your bid. Might have been worth an easy 10k in profit or even more ;D
Would like to the opinion of some more experienced people what profit they would sell the second bid in this case.
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Ottawa charges the most money for tender package and they make individual tender packages for each property for sale. For example if you are bidding for 4 properties than pay $50x4=$200. I was curious to know from those who bid for Ottawa properties if they bought the tender package from the city or used generic one?