Messages

1

General / Re: Ramara - Orkney Beach - "bathing rights"

« on: September 13, 2021, 09:07:12 PM »

I have talked a person living near the property.  He says the whole community is against the idea of someone building on that land.  They want the land to be vacant as long as they can access the water through the land as stipulated in the easements.  It looks removing easements would be difficult, and future constructions could lead to strong resistances.  Township should buy or take over this property, and make it an official public park.

2

Property Information / Re: MAGNETAWAN

« on: September 06, 2018, 11:59:52 PM »

Bee, but how do you know it is the owner there?

I see three possible scenarios:

1. The owner is still there as you say.  Well, then the winner should rush with his payment of the balance and get deed registered as quickly as possible.  After that, it is just a matter of evicting the previous owner.

2. Someone is renting the cottage.  The winner has got a better deal than expected.  Honor the current lease and continue renting until the end of the term.

3. A third party (possibly an illegal occupant) lives there without consent of the owner, owner being unreachable or not to be found anywhere.  In this case, we all know who to contact- OPP.


In my honest opinion, whoever stays there right now, it is not the owner but falls into #2 or #3 above.  Why in the world would an owner take the risk of losing his cottage for just 15K of debt?

3

Property Information / Re: MAGNETAWAN

« on: September 06, 2018, 01:29:13 AM »

That cottage has an assessment value of 301K and the Real Time Valuation of 374K. 
But, similar cottages in that area recently actually went for 210k-260K. 
What paper says and what is actually being sold in real life is different, especially in remote areas. 
So in my opinion, if the winner is a local person, I think 177K is still a good buy. However, if the winner is from far (let's say from the GTA), he better like driving a long distance to Magnetawan.

Congrats to the winner!
Hopefully this time, there is no after sale redemption.

4

Announcements / Re: Becareful of the Queen, she has a big lien

« on: August 21, 2018, 03:47:17 PM »

Thanks for the follow ups, Dave.
The 80 acre vacant land in Prince Ed was up for tax sale 2 years ago, too.  
Then, I did title search and quickly gave up on it because of the liens.
I did not even bother with it this time.

Properties are either redeemed or have a high risk factor, so I turn my eyes to Cannabis stocks.
In a month and a half, the long prohibited recreational cannabis will be legal in Canada, and now I rather see the cannabis BULLISH market is about to break out..

5

General Discussion / Re: Swiss Meadows Lots Sold!

« on: March 09, 2017, 10:30:12 PM »

The lot to the West: $122K

The lot to the East: 188K


I really hope that the winners did their homework and know what they are doing..

Any comments on the sales would be appreciated?

6

General Discussion / Lots in the Swiss Meadows

« on: March 03, 2017, 01:37:27 AM »

Looked at the lots in Swiss Meadows.

The lot to the west is no good.
It is hilly and rocky with no public road frontage.  I think most of this lot is zoned Harzadous.

The one on the right side looks OK, except the fact that all the rain water seems to be collecting to the front of the lot causing a large marsh like wet area.  A good drainage plan plus earth fill will be required (that is why this lot is designated with Holding "H").

There is a shed right at the coner.
The town wanted the little part for their storage facility, so they zoned it "Public Industrial".
If this newly created zoning section is passed and now firm, a separate driveway might have to be built to access the lot from the road.

Google maps show there are old structures at the back of the lot, but I could not physically confirm them (got scared to go into the woods with all the water running wild).

The property is in a "meander belt" designated under the jurisdiction of Grey Sauble Conservation.  What it means is that any structure requires a set back of 30 meters from a steam or a minimum of 15 meters from the 100 year flood level.  I am not sure if one could still find enough space for septic bed area and buildings after taking out all the setbacks, buffers, and the harzadous area..

Yet, the minimum amount is relatively low while the MPAC assessment is 177K, and it is in one of the desirable areas in the Blue Mountains.  If you are an experienced developer and know all the details as to how to tame this land, I think this can be a solid investment.  If you are a novice, however, entirely forget it as this could be your lifetime nightmare.

So let's see how the game will be played on this one..

7

General Discussion / Re: Title

« on: February 07, 2017, 09:03:39 PM »

What does NO DEALINGS INDICATOR IN EFFECT ON THIS PROPERTY mean on title?

We have to understand it as literally as possible, ie. no dealings, period!
No one is to sell or buy that property in any manner.

The crown, represented by one of the government departments or agencies, holds the first hand interest on that particular property and does not want anyone touch the property.

I see this tax sale has to be cancelled or postponed soon..

8

General Discussion / Sale of Land- City of Kitchener

« on: February 02, 2017, 12:29:05 AM »

Bid Number:    T17-025
Bid Name:    Sale of 48 Ontario St. N.
Bid Status:    Open
Bid Closing Date:    Monday April 3, 2017 01:00:59 PM
Question Deadline::    Thursday March 30, 2017 01:00:00 PM
Description:    A prime adaptive reuse building located at 48 Ontario Street North in the heart of Downtown Kitchener is being offered for sale through a sealed bid process, fully described in the document.

If you are interested in investigating further, visit their web site:

https://kitchener.bidsandtenders.ca/Module/Tenders/en/Tender/Detail/a358f0d5-687e-425a-8598-11b39a46de4c

Note that the closing time is 1:00:59 PM.
They allow a nice grace time of 59 seconds after 1:00 pm  ;

9

General Discussion / Re: Georgian Bay - Why is there always a conspiracy to cheat me of my winnings

« on: January 29, 2017, 03:12:52 PM »

My previous experience similar to this tells me that the sale will eventually be cancelled.

The trustee will most likely register "No Dealings" caution to title as soon as he finds out that tax sale is imminent.  The trustee is a licensed lawyer under the Office of the Superintendent of Bankruptcy (OSB).  Note that OSB is a Federal government crown agency.

Nevertheless, it could go the other way.
As the property does not hold a significant value and as it may be difficult to sell it in the public market, the trustee may let go for tax sale and just go after the proceeds from the sales as Lara's dad has pointed out.

Yes, this one is quite suited for Dave as he has successfully demonstrated his legal skills with his property near Tweed.

10

General Discussion / Re: BLIND RIVER - The town is a spoilsport??

« on: January 21, 2017, 05:56:01 PM »

I just hope that the cause of this did not result from someone talking to the owner.  

Dave:

I now feel like to start wondering why the guy on the hill claimed in his last rhyme that he had already won the tax sale.. 

11

General / Re: no tiny deal

« on: December 10, 2016, 03:53:27 AM »

In my opinion, it is not the place "Tiny", but the products.
The vacant lots certainly look all legitmate and marketable with no defects.

The one on Davidson Crescent in particular was sold for the market price.
I have a feeling though that this lot may be actually well worth for being on the top of the hill.
It will provide the future two story cottage or a building with a superior view of the Georgian Bay.

Is it a good buy?
Don't know.   Time will tell..

In any event, I do not buy tax sale products for market prices.
I like to play conservatively.
Maybe that is why I lose tax sales almost all the time 

But hey I never lose money and do make good or rather interesting profits from my tax sales 

12

General / Re: Blue Mountains Lot

« on: August 25, 2016, 09:04:15 PM »

Thanks, Mozzy.

Wow, I kind of expected the lot would be going for $80K plus.
Everything being equal at surface level, I think that winning bid $58K is definitely a great buy.
The lot and other similar lots around there are accessed for $150K-170K and actually seem to be going for at the similar price range.

In any event, the highest bidder knew something that I did not.
Congrats to the winner! 

13

General / Blue Mountains Lot

« on: August 25, 2016, 07:52:42 PM »

Even though I did much research on the lot in Blue Mountains, I have decided not to enter a bid due to unseen factors which may act against to my advantage.

I am now very curious on the result because I could be all wrong and made a bad decision.
Did anyone attend the sale?

14

General / Re: Kawartha Lakes

« on: July 26, 2016, 08:55:48 PM »

My pursuit for big bucks has not been too successful.
They were either redeemed at the last minute or sold for at equal to or higher than market prices.
As Mountainman has said, I would never pay market price for tax sale property regardless...

Tax sales are becoming very hard to play as there are too many players with too easy access to information.

Anyways, I would love to hear from Mountainman again as he seems to know more than what is being said on the Kawartha properties.  

15

General Discussion / Re: Bracebridge- Madness continues

« on: May 28, 2016, 04:01:37 AM »

The madness continues in the Southern part of Ontario too.

Went down to Chatham to bid on a big one, and it got redeemed just hours before the auction.
What else is new  

Anyways, there was a small water lot in swamp, which is under water most of the year.  Before the auction, the city staff had mentioned or rather warned that the lot was a water lot.  Despite of that, someone still bought it.  What in a world would you buy a water lot in swamp?  Although I know there are lots of people who purchase lands on the moon..??

Madness continues..
or am I entirely missing something?