Ontario Tax Sale Property Forum
Tax Sale Forum => Property Information => Topic started by: DF1 on September 05, 2014, 08:39:28 PM
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The tax sale in North Dundas is the old Nestle plant in Chesterville. Min bid is $482,337. According to the local press, the current owner is a family trust in Toronto which purchased the property for $500,000 several years ago. They then sold the waste water lagoon to the township for $900,000. ;D The property includes a brick farmhouse that was the plant manager's home and "substantial freshwater well resources". It was the oldest nestle plant in north America. Any takers?
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Like many old industrial properties...I've always thought an investor needs two things to make money off a tax sale like this: vision and capital.
Vision to know what the heck to do with an unconventional property, and the capital to be able to afford the necessary redevelopment.
Unfortunately, I have neither, and am thus relegated to the crowded market for easy residential lots/buildings.
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Roof of the house has been covered with tarps for the last few years. According to someone who used to work there, there was a lot of water damage several years ago and it can only have gotten worse.