Messages

1

General / Toronto Tax Sale Results from June 29?

« on: July 06, 2023, 02:42:22 PM »

Does anyone know the results of the Toronto tax sale from last week? Specifically how much the commercial condo on Bay street went for?

2

General / Tiny Toronto Tax Sale Property Comes On The Market

« on: December 06, 2021, 07:14:12 PM »

I remember this auction, I remember looking at this piece of land thinking what could one possibly do with it...

Now I see a bunch of articles about it asking the same question...

And yet still no answer

https://www.theglobeandmail.com/real-estate/article-an-eight-inch-start-to-real-estate-riches/

https://www.blogto.com/real-estate-toronto/2021/12/1060-danforth-avenue-toronto/

https://toronto.ctvnews.ca/vacant-piece-of-land-less-than-30-centimetres-wide-hits-the-toronto-market-and-it-s-attracting-attention-1.5694423

3

General Discussion / Re: Island property in Gravenhurst Muskoka

« on: February 18, 2020, 08:45:02 PM »

The property seems to have an interesting history. I am very curious to see what happens with this one. Not just at the sale but in the years to come.

Dave2 - Care to divulge these potential title issues, or give a hint as to where we can go digging to better understand the issues?

4

General Discussion / Re: Is this the Never Ending Tax Sale?

« on: January 06, 2020, 12:26:36 AM »

Looks like it finally sold: https://www.hamilton.ca/home-property-and-development/property-taxes/tax-sale-property-results

5

General / Re: Contaminated sites including Gas Stations

« on: April 26, 2018, 05:28:18 PM »

Mike:

The first question is " What do you intend to do with it."  Operating it as a gas station is a lot different then trying to flip it. 

Contaminated sites in general pose a lot of problems because unless you have some really good knowledge it is hard to put a risk valuation on your possible exposure.

As tax sales are not subject to inspection they are sometimes the only way an unscrupulous owner can sell a contaminated site.  Oil products also have a tendency to
spread underground to your neighbours properties.   Thus you may be liable to clean up their property in addition to what you buy. 

I got a lot of flak because I tried to warn people about a possible environmental risk on a recent tax sale.  I didn't bid on it as is my normal practice because I have better things to do with my time and money.  Well someone bought it (for over $100,000) and owns it and now will find out what they have.  There maybe problems with neighbouring properties on that one but which property caused the problems and the extent of it I didn't take the time to find out.

In general I avoid them like the plague and hope that I don't become a victim.     

My original thought would be to flip it, although running it would be an option. Are you saying that it would be worse if I run it since the damage can become greater over time, or are you saying that it would be more difficult to sell because there might be damage that I would have to deal with immediately?

I don't intend to bid on the one thats for sale, i just want to get a better idea of how one would go about assessing the risk. The thought that it can spread worries me a lot.

6

General / Gas Stations

« on: April 24, 2018, 06:18:11 PM »

(I tried to use the search bar, but it doesnt seem to be working)

Has anyone ever bough, or know of someone who bought a gas station before? I imagine the chances of there being an environmental harard are quite high even if not stated in the title. Can anyone explain how big the issues could be or the chances of there being issues. The one thats for sale has intregued me.

7

General / Re: Township of Archipeligo results.

« on: December 05, 2013, 05:08:36 PM »

Im still new to this, but would the mortgage still stay on after the tax sale? From what I found, the mortgage was higher than the minimum bid.

8

Property Information / Re: Did you know about the big one(s) that got away

« on: December 04, 2013, 08:32:22 PM »

I am going to take one more guess, and this is a bit of a wild card. I know the land is heavily contaminated and had a crown lein on it. I dont know the extent of either because I did almost no research on this property because of the minimum bid. Regardless of that, if someone had the money to develop this land, there may be a profit for them in the end. The property that I am talking about is 290 Old Weston Rd.

9

Property Information / Re: Did you know about the big one(s) that got away

« on: December 02, 2013, 07:50:59 PM »

I have one more guess, but I will wait a few days and see if anyone is thinking along the same lines as I am.

10

Property Information / Re: Did you know about the big one(s) that got away

« on: December 01, 2013, 11:05:35 PM »

Im going to take a guess and say the ski resort.

11

General / Packard Plant

« on: October 29, 2013, 01:00:18 AM »

What do you guys think of the Packard Plant that just sold for $6 million. Did anyone actually look into the property?

http://www.mlive.com/business/detroit/index.ssf/2013/10/detroits_abandoned_packard_pla.html

12

General Discussion / Algonquin Highlands

« on: October 24, 2013, 07:03:56 PM »

So what did you guys think of the properties that were for sale there?
Did you guys think the one with the road going through it had potential?
Did anybody get a chance to see the WAO one?