Ontario Tax Sale Property Forum
Tax Sale Forum => Announcements => Topic started by: Dave2 on November 02, 2015, 02:40:10 PM
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1. Lots of Competitive tax sales at the same time with attractive properties close to Toronto that did not redeem by time of sale.
(Wasaga Beach, Georgina (some redemptions unfortunately)
2. A nice fall storm day before tax sale that carries over to morning of tax sale. (four inches of rain keeps Toronto people at home)
3. Only one property on tax sale so that it gets lost in the broader picture
4. Friendly courteous professional staff that had received good advice from Realtax. (Tritarget also does a good job)
and is fully equipped with premade up forms including HST declaration.
5 Regular local competition disappears even though tax sale property is within walking distance of one of my normal major competitors. (He owns a farm 1 farm away from tax sale property.)
6. Bottom line is I only faced 3 competitors. None of which are regular tax sale players. Only myself and one other at bid opening.
7. One downside is I look like a fool because I bid because of expected (knowledgeable) competition and followed Franks maxim.
when you expect competition (Go big or go home) but I stayed within usual bid rules to give me value.
8. Staff follow-up paperwork was quick fast and efficient thanks to a friendly treasurer (Arryn), hardworking tax clerk (Kathy) and Mary and Teresa at Realtax. Thanks to all.
9. Deed was registered within 24 hours and I now own the property.
10. Mountainman can wax poetic I have other things to do.
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Congrats, Dave!
I suppose you won the 9.6 acre farm land with a house on it. (is it still there?)
For sure, I think you got a good deal there!
The nature was on your side as its heavy storms prevented the smarter October vultures of Toronto flying over your own hunting territory.
For now, my friend, relax and celebrate your winning by heavily taking the Irish Flue Shots.
P.S.: I was impressed with your poem last time. With or without the rhyming title match against the champion Mountainman, I honestly believe you possess the potential to become a great poet. :)
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Congrats, Dave!
I suppose you won the 9.6 acre farm land with a house on it. (is it still there?)
For sure, I think you got a good deal there!
P.S.: I was impressed with your poem last time. With or without the rhyming title match against the champion Mountainman, I honestly believe you possess the potential to become a great poet. :)
Matt:
It is still there but for me this one is not over yet, as a complex situation with title because property identification of site maybe wrong as shown by the aerials.
Alas from latest information it looks like I now own some reasonable quality farmland with no structures.
Just hope I have to pump Mountainman full of Jameson whisky with all the title searches I have to do in November, because he is right and I am wrong. Of course I will have to know (his?) identity and can get to the bottom of whether we are dealing with a he or a she.
Some really smart classy ladies on this board but they like to keep a lower profile and I wonder if I will soon be jousting again with Jennifer. (Always wondered if Jayz had a clone of the opposite sex)
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Congrats, Dave!
I suppose you won the 9.6 acre farm land with a house on it. (is it still there?)
For sure, I think you got a good deal there!
P.S.: I was impressed with your poem last time. With or without the rhyming title match against the champion Mountainman, I honestly believe you possess the potential to become a great poet. :)
Matt:
It is still there but for me this one is not over yet, as a complex situation with title because property identification of site maybe wrong as shown by the aerials. May have another Rock Island case and as a result may have some additional value as hinted by you. As the new property owner I have of course have some interesting rights as confirmed by our supreme court. That was why the rush for title.
In the hands of my surveyor to tell me what exactly I bought (I am okay even on downside with current farmland values which my second place bidder was kind enough to tell me that the downside property was worth twice what I paid for it).
Just hope I have to pump Mountainman full of Jameson whisky with all the title searches I have to do in November, because he is right and I am wrong. Of course I will have to know (his?) identity and can get to the bottom of whether we are dealing with a he or a she.
Some really smart classy ladies on this board but they like to keep a lower profile and I wonder if I will soon be jousting again with Jennifer. (Always wondered if Jayz had a clone of the opposite sex)
Yes, there is a clone of me somewhere out there. Just look carefully. In parallel universe, there is always another "me" and "you" doing same things and hoping for different results.
On a serious note, I attended a few openings recently and met a few powerful players. Have you ever wondered what'd happened to "that" property you had an eye on then went unnoticed? They likely have it and are selling it for multi-million dollars. Dave2 is not one of them no matter how many beers he gives away ;-).
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On a serious note, I attended a few openings recently and met a few powerful players. Have you ever wondered what'd happened to "that" property you had an eye on then went unnoticed? They likely have it and are selling it for multi-million dollars. Dave2 is not one of them no matter how many beers he gives away ;-).
Jayz:
you bring up an interesting point regarding the type of property we
hunt and the fact we tend to specialize in certain types. Yes you are correct that I do not tend to go after the larger ICI (Industrial, commercial, institutional properties). Those require deep pockets and special skills and I tend to agree with you there is an indian gentleman who seems to specialize in this.
Unfortunately I do not know his name. My reasons are for property management reasons (I want to be within 1/2 driving for this type of property and being out in the country there is not a large selection out here.). The other reason is the Northstar case in 2013 and the fact that there are more people abandoning their property by way of tax sale in my personal opinion (see Toronto tender now. ) http://www.theglobeandmail.com/report-on-business/northstar-liability-fight-casts-pall-over-countrys-boardrooms/article14855017/
At least Toronto tells you of some of the cases. With other municipalities you don't get a warning.
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My family was part of that class action suit against Northstar. There was a settlement but they went bankrupt right after the first installment was paid out, so we never saw the rest of the money.
Cambridge recently sold the property and wrote of the $256,000 back taxes that were owing.