Ontario Tax Sale Property Forum
Tax Sale Forum => Property Information => Topic started by: Dave2 on December 01, 2013, 05:44:35 PM
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As the board slows down for end of year time to think about what happened this year.
Question on how well you did your homework for a beer bet for first person who correctly names it?
Ignoring the issue of whether it redeemed or not; there was a tax sale this year that you could have made a profit in excess of a million dollars. What was it and what happened.
Note I reserve the right to disqualify some members as for a period needless to say it was a hot topic on private messages for a while.
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Im going to take a guess and say the ski resort.
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Im going to take a guess and say the ski resort.
Actually not. Sorry you have to go thirsty on this round.
The Talismann ski resort in Beaver Valley was one of those that definitely at some time could have been worth 7 figures but the word I had was that the main building was in such bad shape it was in teardown condition. Some of the pieces may have value for a developer but my analysis did not go to that level of detail.
The one(s)? I am talking about passed completely by unnoticed and there was not a peep about them on the board. Personally I think it or they had the potential to be one of the most valuable in a while.
Even more intriguing was there was nothing I could find wrong with the propert(ies)? in a conventional search. This is something I want to comment on once whatever I am talking about is guessed.
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I have one more guess, but I will wait a few days and see if anyone is thinking along the same lines as I am.
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I have one more guess, but I will wait a few days and see if anyone is thinking along the same lines as I am.
Go for it. not all of us are lucky like this guy 8) to have the world's greatest plumber and the perfect control over his wife. (still do not know how he does it. (beer in every tap. ) see photo
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I was about to say the 200 acres in Wasaga Beach. But I am not sure if Dave2 refers to something that went with no bid. Let me know if I have the beer.
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I am thinking one of the city ones...Oakville, Ottawa?
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Keep trying:
Both are valid responses but I had something else in mind. Note the longer it takes to answer this simple question the more proof of one of my points you have to do your homework. ;)
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This would be a whole lot easier if...
When I go to look at the tax sale property results, the original minimum tender amounts are gone. Always wish they'd list it with the results.
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I am going to take one more guess, and this is a bit of a wild card. I know the land is heavily contaminated and had a crown lein on it. I dont know the extent of either because I did almost no research on this property because of the minimum bid. Regardless of that, if someone had the money to develop this land, there may be a profit for them in the end. The property that I am talking about is 290 Old Weston Rd.
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Mike:
sorry I missed your last post. Been concentrating on a local archeological dig which seems to happen in Canada at this time of year. (see photo)
No yours was not the one I meant but the ones in Central Middlesex that happened at the end of November. The two properties on the tax sale
are reproduced below.
Description of Lands:
Roll Nos. 39 39 019 040 07000 and 39 39 019 040 05800; FIRSTLY: PIN 09718-0027(LT); W 1/2 Lot 19
Concession D Middlesex Centre Township/Delaware; SECONDLY: PIN 09718-0028(LT); Lot 19 Concession D
(AKA Broken Front Concession D), designated Part 1 Plan 34R1640 Middlesex Centre Township/Delaware;
File No.12-0204
Minimum Tender Amount: $66,592.11
Roll Nos. 39 39 019 040 05901 and 39 39 019 040 05700; PIN 09719-0003(LT); North 1/2 Lot 20 Concession 1
& Part Lot 20 Concession 1 designated Part 1 Plan 34R675; Middlesex Centre Township/Delaware.
File 12-0305
Minimum Tender Amount: $74,349.93
Assessed value exceeded $1,500,000 and market value about double that and are two large working farms about 330 acres total owned by a corporation which did not show up in any other holdings in the county. A realistic bid would exceed 7 figures if it came to a tender.
They were redeemed the day before the sale but in spite of an exhaustive search I could not find anything negative that showed on title via a conventional search. In a post audit one of the main providers will be changing their process as a result.
What conerns me was that while I found something elsewhere that raised concerns and suggested if I won it I would be headed to the Supreme Court the problem could not be found by a conventional search. I am also wondering if the redemption was not by someone with an ownership interest but by a senior level of government.
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curiouser and curiouser......