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 1 
 Sheriff Sales / Foreclosures / General Discussion / Is this the Never Ending Tax Sale?
 on: Today at 06:40:22 AM 
Started by Dave2 - Last post by Dave2
One of the frustrations of this business is Tax Sale cancellations by the municipality because it wastes a lot of our time and money.    The worst case I have ever seen has just come up again.   333 East Avenue  Pin 17187-0039 Roll 03021605960 in the City of Hamilton.    This property was first listed for tax sale in 2012 and this is the fifth tax sale it has appeared on.   It is a single family house in an area that is being rapidly upgraded.   it does not take 5 times to sell a house through tax sale and why they keep cancelling is beyond me.   The houses right next to it have been demolished and replaced by new modern homes.   The property was shown as vacant in 2015.  
Tax sales it was previously on were in 2012, 2014, 2017, 2018 and today 2019.

Needless to say the minimum bid price keeps escalating.   In 2012 it was $22,000 and change and has tripled in the interim to this tax sale.    Anybody have an idea what the heck is going on?  

BTW this is not the only repeat tax sale property on this tender but I can understand that a property appears twice as the municipality tries to work out an arrangement with the taxpayer that does not work out.  Obviously the municipality does not appear to want to take possession and maybe we should be cautious about buying this one on East Avenue.  Particularly around Halloween time.

Redemptions I don't like but are a necessary evil in this business.

 2 
 Tax Sale Forum / Announcements / Re: Dysart et al - large waterfront
 on: October 11, 2019, 11:03:47 PM 
Started by Dave2 - Last post by RyanMckenzie
There was a notice of pending litigation on the property, does this survive a tax sale, and is there a way to find out what it is for/if it is still valid or was ever settled before bidding without a lawyer?

 3 
 Tax Sale Forum / Announcements / Re: Dysart et al - large waterfront
 on: October 11, 2019, 08:05:11 AM 
Started by Dave2 - Last post by bee
Looks like will not be ever subdivided, all previous applications denied. Also big river divided lot in half, making hard to access west side. No river will be touched with in 30m.

You can find the proposals and staff reports for each of the more recent applications brought forward at Council on the municipality file sharing site using the following link:

https://haliburton.civicweb.net/filepro/documents/41873

 

Below are the application file numbers, proposal type and the year they were proposed:

 

-          D00DV1990OCT ? unknown - 1990

-          D00SV1995FEB ? Severance proposal ? 1995

-          D07CD2000SEP ? Condominium proposal ? 2000

-          D00SV1992045 ? Severance proposal ? 1992

-          D00SV1990053 ? Severance proposal ? 1990

-          D00SV2003SEP ? Severance proposal ? 2003 (deferred decision)

 4 
 Tax Sale Forum / Announcements / Dysart et al - large waterfront
 on: October 10, 2019, 06:42:35 AM 
Started by Dave2 - Last post by Dave2
top bid $275,000

47 bids

Looked at it closely but one of those cases where a site visit changes your strategy.    The cliff close to the water made waterfront building difficult because of setback rules and road construction expenses were going to be too expensive even if you could solve bad weather driving problems on existing road with its high hill to the south.   Tough to say if good value or not.  I am reminded of the old saying "It is easier to get into a swamp then out of it".  This was one of those properties that if you wanted to do something with it access expenses alone could easily exceed the winning bid value.  

Cliff problem did not show up on documentation unless you had topographical maps and reinforced the need for a site visit. Nice early fall day for a visit.    
 
 Pity certainly beautiful Haliburton property.

Any other comments from other bidders?  

 5 
 Tax Sale Forum / Property Information / Re: Tiny, possible contaminated soil lot across landfill
 on: September 27, 2019, 06:13:57 PM 
Started by bee - Last post by Jack
It is on municipal water and for an added bonus there is a fire hydrant within 300 meters of the property. PFM and slick deserve gold stars for their wisdom.

 6 
 Tax Sale Forum / Property Information / Re: Tiny, possible contaminated soil lot across landfill
 on: September 27, 2019, 07:54:04 AM 
Started by bee - Last post by Slick_Willy
Zoning map shows that only a small bit of the 25 acres near the road was under a holding provision due to the contamination.

The rest is zoned RU and presumably is build-able. You'd probably want to invest in a good water filtration system though.

Also curious as to why OP thinks you'd need an environmental study.

Seems to be mostly forest and wetland - maybe you need conservation approval?

 7 
 Tax Sale Forum / General / Re: I wish I could buy properties like this at tax sale
 on: August 14, 2019, 12:09:47 PM 
Started by Dave2 - Last post by Dave2
a little beyond my affordability

 8 
 Tax Sale Forum / General / Re: I wish I could buy properties like this at tax sale
 on: August 11, 2019, 02:07:54 PM 
Started by Dave2 - Last post by Jack
You can Dave2. The Texaco property where their ships docked on the easterly downtown Toronto waterfront actually went up for tax sale about 25 years ago. Yes, the minimum bid was about a million but it would have been a steal, even considering remediation. No one bid so it went to the City of Toronto. The property in your article sold for 30 million, but this tax sale waterfront property was easily worth 50 million, probably closer to 150 million today considering the proposed Cherry Street development.

 9 
 Tax Sale Forum / General / I wish I could buy properties like this at tax sale
 on: August 03, 2019, 06:15:41 AM 
Started by Dave2 - Last post by Dave2
https://www.mansionglobal.com/articles/billionaire-david-geffen-buys-one-acre-lot-for-30-million-204883?reflink=outbrain_celebrity_0089b441b8e310d7b06ff4b068f8d689e4

 10 
 Tax Sale Forum / New Brunswick Tax Sale Properties / Re: how do tax sales work in nb canada
 on: July 26, 2019, 04:17:02 PM 
Started by rachel - Last post by Rob
There will be a min amounts assigned to each property plus you have to pay the outstanding taxes.  A good strategy would be to target a few properties around where you want to buy and learn about those properties and only bid on those.  Consider searching for any federal liens against the property, as they won't come off after the sale.

Good luck!!!

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