Ontario Tax Sale Property Forum
Tax Sale Forum => General => Topic started by: Jayz on November 26, 2020, 08:15:12 PM
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So far, 6 bids with $161,200 the highest ...
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SIMCOE RD
66 tenders in total incl. one same tender(er) and one pulled out before opening.
$52,000
75,018
161,200
124,024
63,584
111,002
70,300
72,750
76,300
91,000
51,126.11
81,700
102,500
102,590
110,157
70,000
108,412.89
100,000
51,051
161,000
33,501
85,003
same tender(er) lower amount (disqualified)
72,200
135,000
111,111
45,008
151,372 (?)
165,000
120,000
60,000
50,001
50,500
56,652
40,000
37,500
163,999
51,239
100,100
111,000
140,500
40,800
113,002
168,200
85,055
85,818.80
138,000
106,500
36,501
73,010
70,013
40,000
152,100
130,009
128,001
66,200
63,920
77,778
124,669.69
104,000
65,824
81,100
95,000
90,000
73,000
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SIMCOE RD
66 tenders in total incl. one same tender(er) and one pulled out before opening.
$52,000
75,018
161,200
124,024
63,584
111,002
70,300
72,750
76,300
91,000
51,126.11
81,700
102,500
102,590
110,157
70,000
108,412.89
100,000
51,051
161,000
33,501
85,003
same tender(er) lower amount (disqualified)
72,200
135,000
111,111
45,008
151,372 (?)
165,000
120,000
60,000
50,001
50,500
56,652
40,000
37,500
163,999
51,239
100,100
111,000
140,500
40,800
113,002
168,200
85,055
85,818.80
138,000
106,500
36,501
73,010
70,013
40,000
152,100
130,009
128,001
66,200
63,920
77,778
124,669.69
104,000
65,824
81,100
95,000
90,000
73,000
Jayz:
Really surprised so many bidders and more importantly the number of high bids. Ouch I did not bid. The problem was the hidden extra cost with this property.
I am referring to the retaining wall bylaw that was passed earlier this year. To put it simply within 2 years of taking possession you have to build a new retaining wall on the waterfront edge. The bylaw lays out the specs and basically we are talking an engineered structure,that goes 6 - 8 feet under water. I also has to be ice resistant and integrated with boat storage and launching I did not cost it but would not surprise me that it would cost $50,000 - $100,000. Because of this did not expect a high bid above 80-90,000. I did not have time to undertake a proper site visit and investigation so passed. Comments???
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I am Mountainman
Sometimes I doth rue
that my friend Dave is a fool,
But here what he does say
will keep a smart man away,
The high bidder may feel in luck
but the truth is he is royally fu%*ed.
For I am Mountainman
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I have always considered one of the key points of this site is to warn people of land mines. By telling people of serious issues we eliminate overpayers and hopefully someone warns us of other landmines.
Over the years we have all lost bids to people who overpaid as they didnt know of serious issues.
We obviously do not disclose gold mines to each other but we should warn of the landmines only on the hope that someone will do the same in the future.
I didn't bid on this as I had no interest but if people knew about the retaining wall it should have been posted.
Just my two cents.....
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Pfm1011, it is so nice of you, but unfortunately municipality did not disclosed this information at all, who new....
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I have always considered one of the key points of this site is to warn people of land mines. By telling people of serious issues we eliminate overpayers and hopefully someone warns us of other landmines.
Over the years we have all lost bids to people who overpaid as they didnt know of serious issues.
We obviously do not disclose gold mines to each other but we should warn of the landmines only on the hope that someone will do the same in the future.
I didn't bid on this as I had no interest but if people knew about the retaining wall it should have been posted.
Just my two cents.....
I am Mountainman
Pfm, Pfm, Pfm
you must have often wondered when,
You doth come and results you seek
and nary a sound is made, not a single peep,
So when Dave does not miss a beat
why shouldn't information he keep?
T'is not a great secreet
information is a two way street.
For I am Mountainman.
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Yes, I am agreed with Mountainman, why PFm1011 did not share info?
Oh Pfm, Pfm, Pfm...!
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I have always considered one of the key points of this site is to warn people of land mines. By telling people of serious issues we eliminate overpayers and hopefully someone warns us of other landmines.
Over the years we have all lost bids to people who overpaid as they didnt know of serious issues.
We obviously do not disclose gold mines to each other but we should warn of the landmines only on the hope that someone will do the same in the future.
I didn't bid on this as I had no interest but if people knew about the retaining wall it should have been posted.
Just my two cents.....
PFM:
I did warn the wining people only 3 hours after the bids had closed. They have/had almost 14 and 28 days to decide if they wish to proceed and if not we will all know of their decision if it tenders again next year.
The only thing I did not do was warn people in advance but I did warn them in time to cut their possible losses. I know of other ways but that is not in the public domain.
Tax sales are a high risk investment and if you cannot afford to lose 20% of your bid you should not be bidding. As someone I know from another arena
arena once said "If I ain't losing some I ain't bidding it right. (because I am overpaying.) Yes I have walked away from my deposit also.
I personally have given a lot of warnings and received a lot of flak for them because people have in effect accused me of spreading false news.
Bee: The Municipality usually will not tell. Obviously some people knew (I know of at least one other). The big question is how,
but I am not telling because it is part of my art.
Too often we forget the first rule of tax sales. 'Properties appear on tax sales because there is a Problem with the property or the owner'
Second rule: 'Reread rule one'
Unfortunately I think shortly we will have to add a third rule soon,
"Buying tax sales is like buying stocks. Any fool can buy them. The key is what you can sell them for"
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I have always considered one of the key points of this site is to warn people of land mines. By telling people of serious issues we eliminate overpayers and hopefully someone warns us of other landmines.
Over the years we have all lost bids to people who overpaid as they didnt know of serious issues.
We obviously do not disclose gold mines to each other but we should warn of the landmines only on the hope that someone will do the same in the future.
I didn't bid on this as I had no interest but if people knew about the retaining wall it should have been posted.
Just my two cents.....
PFM:
I did warn the wining people only 3 hours after the bids had closed. They have/had almost 14 and 28 days to decide if they wish to proceed and if not we will all know of their decision if it tenders again next year.
The only thing I did not do was warn people in advance but I did warn them in time to cut their possible losses. I know of other ways but that is not in the public domain.
Tax sales are a high risk investment and if you cannot afford to lose 20% of your bid you should not be bidding. As someone I know from another arena
arena once said "If I ain't losing some I ain't bidding it right. (because I am overpaying.) Yes I have walked away from my deposit also.
I personally have given a lot of warnings and received a lot of flak for them because people have in effect accused me of spreading false news.
Bee: The Municipality usually will not tell. Obviously some people knew (I know of at least one other). The big question is how,
but I am not telling because it is part of my art.
Too often we forget the first rule of tax sales. 'Properties appear on tax sales because there is a Problem with the property or the owner'
Second rule: 'Reread rule one'
Unfortunately I think shortly we will have to add a third rule soon,
"Buying tax sales is like buying stocks. Any fool can buy them. The key is what you can sell them for"
I am Mountainman
Dave, here's my half-pence
sometimes you doth make sense,
But here your linguistic ability has parted
You kinda sound like you just farted.
For I am Mountainman