Otawa

[bobs]

There is a new tax sale coming up in Ottawa.  I am originally from Ottawa and live not too far from there now.  People on this discussion board have been very helpful to me with info  in areas far from my present home and I would like to return the favour.  If you have any questions or want info of areas around properties I would be of help. 

One question I have always had.  If I was to get information (say the tax sale package) where would I post it and where is the normal place to post it from other townships.  I will be in Ottawa shortly and stopping by the city Office is not a problem.  I know the city of Ottawa had a tax sale not too long ago and they were pretty stubborn to give any info.  Not like TRENT HILLS.  Again congrats on Trent Hills officials on doing a package like all townships should do!

If I can eliminate a lengthy drive for someone I would be pleased to return the favour!

[bobs]

"Otawa" is how the Indians used to spell it.  At least that is a good way of covering my typo!

[Pfm1011]

Out respect our first nation members we will not correct the spelling

Thanks for the heads up
Here is the listing http://www.ottawa.ca/residents/proptaxes/property_sales/tax_sales_en.html

I would expect alot of redemptions as alot looks good This one ( 5 pieces)  however is junk for sure so stroke this one off. Its just tiny little leftovers behind a few houses

10.
 Description of Land:
PART BLK B PL 316039, being Parts 1 to 5 on PL
4R13993 Ottawa, subject to the interest, if any
AS IN CR316047
PIN: 03979-0252 (LT) / 03979-0253 (LT)
03979-0254 (LT) / 03979-0255 (LT)
03979-0256 (LT)
Municipal Address: 0 Neepawa Avenue
Roll No. 0614 095 001 30509 0000
Minimum Tender: $ 7,537.22


This one here is flood plain so very strict conditions,,havent read them but generally same footprint only

5. Description of Land:
LT 105, PL 428; WEST CARLETON/
TORBOLTON; SUBJECT TO EXECUTION
92-003959, IF ENFORCEABLE
10500.00 SF 70.00 FR 150.00 D
PIN: 04581-0190 (LT)
Municipal Address: 505 Bayview Drive
Roll No. 0614.421.830.08400.0000
Minimum Tender: $ 19,141.30



The rest will need to be on "on the ground" so anything you can provide would be appreciated. Of course remember it is only if you are not bidding on a piece do you share your info with the rest of us.

[tax_newbie]

This one is also a little strip of land - corner of Westpark and Bearbrook road - irregular shape and cannot really build on it

Wonder if it was put up on previous auctions ?

8. Description of Land: PT BLK D, PL 805; EXCEPT PLAN
876 & N538315; S/T GL79671,
GL79675, GL80120 GLOUCESTER
3132.00 SF 75.08 FR 108.18 D
PIN: 04746-0648 (LT)
Municipal Address: 0 Westpark Drive
Roll No. 0614.600.185.00503.0000
Minimum Tender: $17,334.79

[bobs]

With my experiences with tax sales I have found that any property having an address of "0" is a completly useless property.  It has a "0" because somewhere along the way a mistake was made or the property was some how forgotten.  I never bother to do any research on these.

[Frank]

With my experiences with tax sales I have found that any property having an address of "0" is a completly useless property.  It has a "0" because somewhere along the way a mistake was made or the property was some how forgotten.  I never bother to do any research on these.

You would probably be correct in many cases, however I have seen the opposite.  I own a '0' property which has little value right now as it is landlocked...that's why it is '0' - it has no road frontage (currently), however, that will change some day, and it will be worth quite a few loonies.

[tax_newbie]

Thanks for the information Frank. I would not have even thought of that possibility. If it is going to be worth a lot of coin SOMEDAY - why not purchase the land that is next to it and locking it in and then selling the two properties as one big lot TODAY? But you have probably already considered that .... I read several posts on the site before I ventured into my first post and was always impressed with your answers. Very helpful and you hold back from personal attacks.

Really glad I read the post on approaching owners (or actually the post on NOT doing that). Being a complete begininer, I would have thought it was a good idea and ruined things for everyone. I might have posted the same question myself it I had not seen it here. With the amount flack the poster recevied, I was hesitant about posting ANY questions or I might get reemed.... especially from the pfm dude - he does not hold back at all !!

[netpred]

Thanks for the information Frank. I would not have even thought of that possibility. If it is going to be worth a lot of coin SOMEDAY - why not purchase the land that is next to it and locking it in and then selling the two properties as one big lot TODAY? But you have probably already considered that .... I read several posts on the site before I ventured into my first post and was always impressed with your answers. Very helpful and you hold back from personal attacks.

Really glad I read the post on approaching owners (or actually the post on NOT doing that). Being a complete begininer, I would have thought it was a good idea and ruined things for everyone. I might have posted the same question myself it I had not seen it here. With the amount flack the poster recevied, I was hesitant about posting ANY questions or I might get reemed.... especially from the pfm dude - he does not hold back at all !!

PFM can be quite blunt, BUT, he is almost always right. He knows his stuff and calls it as he sees it. It is a good idea to give serious consideration to anything he says here.

[ErnestBidder]

 "0" properties are also lands that may not have a 911 number or street address, or may not have a legal entrance, such as a farm field wherein someone made a mistake by installing a 911 number. These situations are more likely to be rural properties, but can be a newly severed lot in town.

[Pfm1011]

Has there been any redemptions in Ottawa or London??

[Pfm1011]

505 Bayview Drive  apparently redeemed

Dont think any others cancelled yet but expect the first two to do the 11th hour thing..they have been in tax sales 2 or  3 times before and redeemed

Is the vacant lot an old gas station, seems strange to be vacant for years at that location , is not the best part of town, but not the worst.

Does anyone have  picture of the Rivington Street piece?

[Pfm1011]

Does anyone have the results for Ottawa?

[tax_newbie]

Don't have all results but for these ones

#3 - 470 Laurier Avenue - $217K
#4 - 1336 Leaside Avenue - $212K
#9 - Vachon St - $150K

I was not there, so I do not know what 2nd place came in at.
This was the first time I EVER bid and I was no where near those amounts. I think they are high. 470 Laurier normally would sell for around $230-250K. Leaside would sell up to $300K+ - there was a similar one across the street listed last year at $350K but it did not sell as it was priced too high. Vachon - no idea of what normal price would have been.

The day before nothing was redeemed. I placed my bid on Tuesday and I can say the whole experience was very exciting. Not sure how all of you experienced dudes are picking up properties at 30-40cent on the dollar. But I will definitely try again next year - who knows I might get lucky :-)

[Pfm1011]

The vacant lot and strip mall ..properties one and two redeemed yesterday

The numbers for the others seem close to retail..same as hamilton .. Seems people arent grasping the concept.....the idea of risking money is to make money.. I can get fair deals on MLS  ..Im looking for great deals

I think alot has to do with the stocks being crap returns and low interest  rates..people will take alot less profit on land .. Of course hopefully all the retail buyers lose their shirts, roll over and die

[twinn1]

I've seen a lot of people paying close to retail on tax sale properties, still deals to be had but I don't understand it.

Sure, if I could get a property in the location I want, i might pay close to retail too, but these properties and the Hamilton ones where nothing special.  Maybe its a large REIT or person just buying land instead of investing in the stock market hoping for a better return in the future?