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Author Topic: Should Municipality STOP selling unbuildable LAND?  (Read 1670 times)
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bee
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« on: December 04, 2018, 02:29:20 PM »

Does it make sense!? Any idea how to prevent this on government level.
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Burkhard
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« Reply #1 on: May 13, 2019, 05:49:32 AM »

Why would they stop doing that? Isn't unbuildable land still useful to some people/businesses?
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ruok
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« Reply #2 on: May 13, 2019, 11:19:40 AM »

Municipalities have to follow a certain protocol whereby they must offer all lands that fall into tax arrears after a two year period. You would not want the Municipality to dictate which lands they keep and which to advertise for tax sale. I understand your genuine concern about selling "unbuildable land" but anyone has the right to sell unbuildable land. You should be more concerned that they can sell land with substantial liens that survive the tax sale process. That does not seem right. The key to any of this is to do your homework so that you do not get burned. Those who have done this long enough know that at some point you are going to have a costly experience even with all your safeguards in place. Too many odd little situations that can happen.
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Pfm1011
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« Reply #3 on: May 13, 2019, 01:12:33 PM »

 There is plenty of "unbuildable land" that is useful for adjacent land owners. 

If you can't identify garbage land that  you can't use  then you shouldn't be in this game. 

If you won a bid by overpaying and are now stuck with garbage .... Google Darwin
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Frank
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« Reply #4 on: May 13, 2019, 06:11:37 PM »

There is plenty of "unbuildable land" that is useful for adjacent land owners.  

If you can't identify garbage land that  you can't use  then you shouldn't be in this game.  

If you won a bid by overpaying and are now stuck with garbage .... Google Darwin

Good call PFM1011 (must be pilot code).   And as Ruok said, Municipalities haver to follow protocol....or the 'rule of law', and that law basically states that these properties must be put up for tax sale first, and if no one bids (this is where Darwin kicks in), then the Municipality can take the land and use it for whatever, or give it to whomever they want, and deem can best use it.   This is really simple folks...why would you bid on these types of properties, unless you owned the property next door and needed this to round out you holdings.  Cool
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Dave2
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« Reply #5 on: May 14, 2019, 02:32:04 PM »

the old stock market rule applies " Any fool can buy it, the key is what you can sell it for."

Lately my problem has not been garbage land but garbage prices.   We have always had garbage land.  Many of the buying prices lately are not sustainable for long term profitability. Any time you buy something with no right of inspection the risks are higher but have to be factored in.  
Although if you do it right there can be pleasant surprises as well. I think we all missed the jewelry mine that came up for tax sale a few years ago.    


My concern recently is what garbage is underground.   Above ground you can determine.   We are seeing more and more property that is environmentally contaminated come up for tax sale.   Unfortunately there is not any easy way to determine much of the environmental contamination.   Even a regular legal search may not help you.

I had one possible regular real estate purchase recently that I instructed my lawyer to go back to crown patent which involves a search of legal records that predates the electronic records on file.   A hundred years ago the property was owned by a major oil company who sold the property over 80 years ago.  Nothing on modern land records showed this and the owner was rather upset when they were informed about the history because they maintained they had no idea even though they had owned the land for a quarter century.  The property today is scrub brush.    I walked.
  
The worst problem I have had is with a conservation authority.   The municipality had it zoned for building.   The conservation authority said no.  Still trying to get rid of that one.    ouch.    Doublely so because my significant other keeps the books.
« Last Edit: May 14, 2019, 03:25:29 PM by Dave2 » Logged
mountainman
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« Reply #6 on: May 14, 2019, 07:59:27 PM »

the old stock market rule applies " Any fool can buy it, the key is what you can sell it for."

Lately my problem has not been garbage land but garbage prices.   We have always had garbage land.  Many of the buying prices lately are not sustainable for long term profitability. Any time you buy something with no right of inspection the risks are higher but have to be factored in.  
Although if you do it right there can be pleasant surprises as well. I think we all missed the jewelry mine that came up for tax sale a few years ago.    


My concern recently is what garbage is underground.   Above ground you can determine.   We are seeing more and more property that is environmentally contaminated come up for tax sale.   Unfortunately there is not any easy way to determine much of the environmental contamination.   Even a regular legal search may not help you.

I had one possible regular real estate purchase recently that I instructed my lawyer to go back to crown patent which involves a search of legal records that predates the electronic records on file.   A hundred years ago the property was owned by a major oil company who sold the property over 80 years ago.  Nothing on modern land records showed this and the owner was rather upset when they were informed about the history because they maintained they had no idea even though they had owned the land for a quarter century.  The property today is scrub brush.    I walked.
  
The worst problem I have had is with a conservation authority.   The municipality had it zoned for building.   The conservation authority said no.  Still trying to get rid of that one.    ouch.    Doublely so because my significant other keeps the books.

I am Mountainman

I can honestly say this post

is the one I like the most,

Mountainman buys his land unseen

but the risks are foreseen,

Like my good friend Dave

I have a spouse who doth rave,

I know when I no longer bring home food

I will be royally scr&@$d.

For I am Mountainman

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Dave2
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« Reply #7 on: May 16, 2019, 05:26:58 AM »

Mountainman:


Selling property does not get enough attention on this board.  Look at how one owner does it.

https://www.kijiji.ca/v-land-for-sale/owen-sound/beautiful-scenic-100-acre-farm/1414104584?enableSearchNavigationFlag=true

Make sure you turn on your sound.
« Last Edit: May 16, 2019, 05:34:07 AM by Dave2 » Logged
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