Anyone want to join my bid on Northern Bruce Peninsula

[worldjohn]

Okay maybe subdividing this property is unrealistic but I want it for my own use. I like the the remoteness and don't like the crowds of cottage country.  I still want to find 2 others who also want it for their own use to join me in a winning bid. 
I think that if there are three names as the registered owners, there shouldn't be an issue getting three building permits or even possibly dividing the property in three.
According to my MNR map I see 9 cottages on the north side and 0 on the south side. I do not think it would be too much to ask to put 3 cottages on the south side.
Does anyone have any experience with having put 3 names on the form 7 with 3 separate deposit checks and know what the ramifications are of this.

[Pfm1011]

Under the zoning RU1  you can only put 1 cottage , 1 bunkie .. the bunkie cannot have a kitchen or a shower.

  You will not get a building permit for anything else. the end lots are under hold and are not being allowed to to build. Since they arent allowed to build I highly doubt they will simply allow you to build three..I can name two owners who will sue.  , the two lots on hold

The rest of the owners will object like crazy as the lake IS overbuilt.

There is 23 lots and about 19 cottages. Check the bruce GIS Aerial, mnr isnt updating much as they have no mining interest in the south

Also if you cant afford the land by yourself , How will you afford the 300 plus for the most basic of cottage? In a cottage build , land is really a smaller part of the total cost.  To maintain this land you will need 40  or 50K in equipment,

Take a drive up and check it out..you can do better in haliburtan and kawarthas as there is tons of lakes there that are bigger and have only 2 or 3 owners..  and not 4 hours from toronto

If you dont mind the 4 hours..look at bancroft, or north of kingston .. tons of small private or semi private lakes without 19 cottages on a 60 acre lake

[speedfreeksteve]

All that I can say is for that area.. you can do alot better for 100k without most of the potential hassles mentioned before. Keep in mind that with anything on water 1-2 good acres is still worth more (and much more usable) than 100+ acres that have issues or limitations.

As for splitting up properties... it's far from the "good old days" when you could split just about any parcel anywhere. The time and money involved just to apply for a subdivision would make it not worth it to many people.

[Pfm1011]

have any experience with having put 3 names on the form 7 with 3 separate deposit checks and know what the ramifications are of this.

No need, Enter a one page agreement with the seperate buyers, simple one paragragh deal, nothing fancy . Make the bid under one name in trust

IE   WorldJohn in trust.    

If you win you can then register all three names on the deed and have a real contract drawn up.  

Simple word of advice ..never have partners in any business venture..

. Keep in mind that with anything on water 1-2 good acres is still worth more (and much more usable) than 100+ acres that have issues or limitations.

True , I think the bobaygeon piece was worth more then this by far

[zehr]

i've read these posts and i wonder.  I wonder what you guys do for a living? seems like you guys are smart. then i think have i spent to much on land, i've bought 51 acres in keady area 15 mins from owen sound, for 82. not great land but buildable. i'am young. yesterday was my first time in "your" part of the country down town toronto, wow.  I felt small. anyway i don't see how this property is worth so little.  I know this has no real revalance to this property but i just wanted insite into your world,  because i've always been a "country kid" thanks for your time

[Pfm1011]

Simple ..its all population density..very few people live in owen sound or close to it..tons of nice land therefore the land is cheap..We have morons paying 1 million for 1/4 acre lots in Oakville ..not even on water.. ( thats not population density...thats just dense people )

Its nice up there if you can make a living and the air is sure as hell better .mind you many people would kill themselves in a town that small where others would do the same in a city like Toronto. Downtown TO in August..dirty, loud,smells of sewer gas , stinky lake you cant swim in , air you cant breathe..absolutely nothing nice about Toronto .. be thankful it was fairly cool yesterday or you would have had a real treat ..

51 acres for 82 is a good deal. a one acre building lot is 50K minimum so the next 50 acres cost you 30. If you an make a good living in a small town you will have a much better life then someone in the city struggling to pay a mortgage on a condo


And a comment about Bruce...They have a dark skies law..which is the best law in the world and I have no idea why the idiots in southern ontario dont pass the same law.. Point lights down..no damn search lights or laser shows... simple..

[netpred]

I still believe that this size of lakefront is easily worth 100k plus all day long. It is probably worth a lot more but my wife calls me a cheap b*stard.

[catfeesh]

I met the neighbors a few days ago - surprising how quiet they are!

[xuda98]

I am afraid of snakes and do not like mosquitoes.

This is my first time logging into their board and it seems there are some interesting discussion.

The land seems to have issues through my friend in law firms: The first owner has paid 1K bucks in 1916 and now the city impose 3.8K annual property tax based on the assessed asset value (on paper). The tax has never been paid I suppose. The land is also subject to the crown. The current owner has thousands of dollars owned to family court.

The distance is a problems for me and it is too far away from hospital if there is an emergency or any commercial district, and will be hard to live there in harsh winter, I assumed.

It is still good if you can spend some weeks in the lake shore if you can build a road into the property and a cottage once you have won the bidding.

Summing up, I do not know if there is any value in bidding for this property with just a little over the min tender value ? May I get some insights from the message board sponsor or tax sale guru? Thanks.

[Pfm1011]

Summing up, I do not know if there is any value in bidding for this property with just a little over the min tender value ? May I get some insights from the message board sponsor or tax sale guru? Thanks.

Welcome to the board..

I can assure you , a bid near the min is a waste of time, I'm still expecting a redemption, however if by some miracle it actually gets to the sale..it will go for at least twice the min at the lowest

[worldjohn]

preliminary results
the 227acres lakefront went for 286,000
the 100 acres went for 62,000 (more than assessed value once again)

All the people who contacted me and agreed to join in on my bid dropped out near the bidding time. I get the feeling they were just talking to me to get extra info and help determine their own bid. tsk tsk

[Pfm1011]

the 227acres lakefront went for 286,000
the 100 acres went for 62,000 (more than assessed value once again)

I can see the 286 , It is on the high side from an investment point of view  but it is a great piece at a good price for personal use..

The 62 seems high for investment , good price for end user

Any idea on the second positions and how many bids on each??


time to trudge on to the next deal

[netpred]

preliminary results
the 227acres lakefront went for 286,000
the 100 acres went for 62,000 (more than assessed value once again)

All the people who contacted me and agreed to join in on my bid dropped out near the bidding time. I get the feeling they were just talking to me to get extra info and help determine their own bid. tsk tsk

Nobody here envisioned anything near 286k. Any idea of next highest bid?

Is anyone here the new owner?

[Pfm1011]

Just wondering why "preliminary"  Did the treasurer not confirm the winner and did anyone get to take a look..usually there is someone who wants to check to ensure the top guy did it right...( it usually the person in 20th spot who insists on checking the data)


And if someone on here is the winner.congratulations..however .where did 286 come from..I get 277 ( 1K an acre) but 286??

[Pfm1011]

All the people who contacted me and agreed to join in on my bid dropped out near the bidding time. I get the feeling they were just talking to me to get extra info and help determine their own bid. tsk tsk

Lesson1..We are all competiton and never forget that

lesson 2  ....never take partners

Lesson 3   Never forget lesson 1