Ontario Tax Sale Property Forum

Tax Sale Forum => Announcements => Topic started by: stever on November 13, 2008, 11:17:14 PM

Title: Highway 6 results
Post by: stever on November 13, 2008, 11:17:14 PM

The one property that had work orders on it, we were told that the successful bidder would have to pay an extra $4000.00 because of City costs, I believe that was the Barton St Property, ended up going for around $15800.00 plus $4000.00. The lots out by highway 8 ....no bidders, The highway 6 property 24 bidders winning bid was $298000.00.........ouch      ???  2nd place was $151000
cheers

Title: Re: Highway 6 results
Post by: Pfm1011 on November 14, 2008, 12:29:14 AM

298 ..next 151  ..I bet someone doesnt feel good tonight..having beat the next closest by  double...big ouch

Title: Re: Highway 6 results
Post by: David on November 15, 2008, 08:00:05 PM

Am I the only one, but is that property worth anything close to the winning bid,   From what I understand, if its greenbelt, you have NO chance of rezoning. Did I miss an angle?, where is the upside?

Title: Re: Highway 6 results
Post by: Frank on November 16, 2008, 03:09:16 PM

Quote from: David on November 15, 2008, 08:00:05 PM

Am I the only one, but is that property worth anything close to the winning bid,   From what I understand, if its greenbelt, you have NO chance of rezoning. Did I miss an angle?, where is the upside?

You didn't miss anything.  Whoever bought it....left over $140k on the table, and .... has bought it for way over market. ....go, figure.   Maybe theres a timber stand worth a lot of money on it, but all I saw was a dumping ground.