Marmora Properties

[netpred]

I also spoke with the lady. Very nice and helpful. Property one (Paradise Road) is expected to be redeemed on Friday.

According to her, there is/are already tenders in on #3 (Island View). She told me that last year, as she recalls, a property went on Thanet Lake in the teens. I find that a bit hard to believe since a nice lot with waterview (this one does not) is listed on MLS in the very low 20's. There is also a brand new cottage for sale that "needs finishing" for the low 100k mark.

I saw these properties and took photos. I tried posting but the files are too big. Next time I'll shoot the pics in lower resolution.

[Pfm1011]

124114104003072    MLS is 29 K asking so you know 22 to 24 will take it ..It has the access already. Unfortunately with the way they have bought all the common land without a corp, The legals for the transfer will be substantially above normal as it looks like you will have to be registered on about ten pieces. Someone wasn't thinking.

The tax sale piece may  not have this access and will have to buy it I think and hopefully they are reasonable but if the old owner has to sell you his portion of the common land..ouch..

definitely check the access as it may have been deeded in the original sale and all the common land stuff doesn't matter

[netpred]

I found a listing last week for 23k but can't seem to find it now. There was also an older cottage built on piers that was on Kijiji on a backlot in the 50's that has been removed - probably sold.

PFM is right on about the access. There may be none unless you buy your way in. This would require more than simply filing a transfer.

[londoner]

have you guys bid on any of these marmora properties?

[netpred]

Property one redeemed a.m. October 16.

[farrouk]

I have no immediate interest but has anyone pulled the title on the Tanet Lake property. If it indicates part ownership on Block X then if you win the tax sale you automatically get your name on the deed of the waterfront block. Won a back lot last year in a similar situation and it was no problem but the lake front block was only split 6 ways with the township one of the owners.
I am assuming that the guy that is losing his property has already paid the $5000 back when the lots were created. Comments?

[Dave2]

Wolfpack:

I know you like to be closer to your friends (relatives??) in Alqonquin Park but I think on this one I will pass.  Ever since I got my ass kicked the last time around for moose pasture (they even beat up Bigfoot) I figure that I will pass on Lake township on Monday.   Main reason is that there is a whole bunch of properties coming up on the North Shore of Rice Lake and there is a potentially interesting lot in Campbelford.  (two different tax sales)

I am going to start a new thread to give a proper heads up.

Dave2 

[netpred]

Does anybody have the results?

Thanks.

[Dave2]

Does anybody have the results?
Thanks.

I should learn when I say I am going to do something that I should check with the boss first.  She decided at the last minute to help our church group close up a camp on Crowe lake next to Marmora so I found myself heading to Marmora at the last minute.  Decided on a whim to put in a bid on the Thanet lake interior lot.  Ran into a very interesting problem on my bid because the town apparently collated my bidders package incorrectly. 

By way of background the town provided two preprinted bidders packages with a separate one for each lot to be bid.  I ordered and obtained the one for Thanet Lake (lot 3)

First the bids:  Lots 1 and 4 redeemed.

Lot 2:  about 4-5 bids with no real enthusiam.  Winning bid from memory was $6,600 with second $5,200.

Lot 3 (Thanet Lake) Winning bid $8,800 other then mine with second about $1,000 below it.  about 1/2 dozen bids.

I would have won Thanet lake but the town put the following package together.


a) Designated envelope with preprinted bid on it for lot 3
b) Bid summary including zoning etc for lot 3
c) Area and subdivision maps for lot 3
d) Preprinted form 7 for lot 2 which is the other one that  I did not want.

I did not catch the error and as a result I submitted a bid in envelope 3 with a mistaken bid for lot 2
on form 7 which I did not want and  as a result we had a first class mess.  Fortunately I was there
and was able to show the town their error.  Mine was the winning bid on lot 2 as well.

Before I tell everyone what happened I ask the question.  What would you do.?
 

[netpred]

Depending on the amount of your bid, I would probably scream bloody murder and insist that I had won Thanet Lake. Now if your bid was 20k or so, I would argue that the bid was a nullity and should not count. Under no circumstances would I want the other lot.

So, what happened?

[Dave2]

Depending on the amount of your bid, I would probably scream bloody murder and insist that I had won Thanet Lake. Now if your bid was 20k or so, I would argue that the bid was a nullity and should not count. Under no circumstances would I want the other lot.

So, what happened?

Netpred:  I always cut my deposit in advance before I decide what I will bid.  Therefore my deposit
is usually (well) over the 20% minimum.  In this case my deposit was $2,500 so you can do the math
as to my maximum.  I am not in the business of subsidizing municipalities so to get a property arguably worth over $24,000 I am not going to bid more then half.  

I will wait and see any other responses before I let the cat out of the bag.

Dave  

[waltersland]

In this case Dave was willing to withdraw his bid, not really caring if he got the property or not. This provided an easy way out for the Twp., they could simply reject his bid on the basis of being on the wrong form, without objection. However, I agree, Dave could have screamed that he was the winning bid, and perhaps the Twp would have to agree.
I got the Pineview lot (for $6250.00); I already own the lot beside it having got it in a tax sale many years ago. I now have 4 acres here. This is a sleeper subdivision, really undervalued. It comes with a mile of joint ownership shoreline on a wide part of the Crowe River, which has a really interesting rapids and waterfall feature just downstream which is all located in Callaghans Rapids Conservation Area, which the subdivision backs onto. There is a boat ramp and you can boat into Marmora. The landscape is also a unique limestone alvar terrain with interesting physical and flora features.
As for the deposit strategy, I usually do the same, pick my max bid and then get a deposit to match; then decide later on my bid amount. However, I almost always then bid my maximum, so I guess, what is the point of that strategy. Besides, if you have a deposit greater than 20%, you will lose out if you decide to 'sell' your bid to the higher tenderer (where there is a big spread), or if you are high and decide to walk and 'buy' the second bid. So, I say to all bidders, never deposit more than 20%.

[Pfm1011]

If you have the piece beside..you essentially have your own little circle there.  At that price you cant go wrong..Any idea what the log cabin down the street is going to cost when done??

By the way..the terrain is really really nice there..amazing difference from there to just a few miles away

[MrMuggs]

Wow Dave2...predicament galore!!

I had to dig my paperwork out of the recycling bin for that one (I did not bid on it..too far away)...

I picked up my paperwork from the township office when I was out there, but was thrown off by the 'Propery #1', 'Property # 2' labels (used to full descriptions)...so I double checked all the forms (knowing that human error could screw this up)...

I have a 'good' package...meaning that all the roll # etc match...too bad you didn't get mine! 

What would I do? Check my paperwork next time....and consult a lawyer... but depending on your lawyer..you may be SOL...you didn't hand in the proper paperwork...and it may be hard to prove you got the 'wrong' paperwork from the township...

Sorry man...just my opinion...

[Dave2]

In this case Dave was willing to withdraw his bid, not really caring if he got the property or not. This provided an easy way out for the Twp., they could simply reject his bid on the basis of being on the wrong form, without objection. However, I agree, Dave could have screamed that he was the winning bid, and perhaps the Twp would have to agree.
I got the Pineview lot (for $6250.00); I already own the lot beside it having got it in a tax sale many years ago. I now have 4 acres here. This is a sleeper subdivision, really undervalued. It comes with a mile of joint ownership shoreline on a wide part of the Crowe River, which has a really interesting rapids and waterfall feature just downstream which is all located in Callaghans Rapids Conservation Area, which the subdivision backs onto. There is a boat ramp and you can boat into Marmora. The landscape is also a unique limestone alvar terrain with interesting physical and flora features.
As for the deposit strategy, I usually do the same, pick my max bid and then get a deposit to match; then decide later on my bid amount. However, I almost always then bid my maximum, so I guess, what is the point of that strategy. Besides, if you have a deposit greater than 20%, you will lose out if you decide to 'sell' your bid to the higher tenderer (where there is a big spread), or if you are high and decide to walk and 'buy' the second bid. So, I say to all bidders, never deposit more than 20%.

To the boards members listen to guys like this he has been a lot more active then then people like my self for a lot longer.  Some of the so called Newbees and lurkers have a lot more knowlege then you realize.  That is one of the benefits you get by being at bid openings.