Ontario Tax Sale Property Forum
Tax Sale Forum => General => Topic started by: speedfreeksteve on June 06, 2006, 06:54:02 PM
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Wouldn't this make sense instead of many of us all ordering some of the same ones?
I don't mean for someone to share a package for a property they intend to bid on, but how about sharing packages of properties they are not interested in after they've looked at them?
Does this make sense? With all the programs for scanning documents into PDF format, I think this idea would be feasible.
What do you guys think?
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What I would appreciate is warning notices. Recently I saw a property and realized it was an abandon Tire Dump and posted a message giving a warning. If you find something major wrong with a property let others know.
The only problem I see is someone giving a false statement or exaggerate the problem to ward off others from bidding.
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Speed
For a change (from his last post) jreist is correct, sharing information to the extent you are talking about could lead to mis-representation. I wouldn't share any info. on a property I was going to bid on with you, and by omitting details on it I would be tipping you off as to which I was interested - defacto.
I could also tell you falsehoods about a property to steer you away from it. In fact, I've had occasion to make inquiries on several properties and obtained what appeared on the surface to be good information (which on further investigation I found to be false) only to observe later that the liars were present at the sale and had in fact put in bids of their own - go figure.
By the way - jreist, I had a friend bidding on that tire dump but he wasn't successful - with the level of past contamination on the site it was too risky to bid much higher than the minimum.
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I like the idea of sharing informational packages. If members are interested I could setup a forum just for that purpose.
On the topic of people sharing information and misinforming to gain an advantage. That is going to happen because of human nature and there is no way around it.
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I think the first two in this thread somewhat misinterpreted my intended idea. Which is... if you get a package for a property that you aren't interested in, why not post the package in the spirit of sharing info and for educational value? I will certainly do the same when I order a package and am not interested in that particular property.
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I've created a board call property information. This board is intented for sharing any information about a certain tax sale property, photos, information packages or stories.
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Steve
Don't get me wrong, I think it is a good idea. My comments were meant to caution, since people will purposely try to mislead you - I've had it happen to me. Bottom line is - trust no one, and do you own homework. :-X
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Frank
I would say you are correct in saying someone could give you false information, but if someone deliberately posted false information on this forum I would say that they would be doing more harm to themselves and their credibility.
I am not the moderator of this group, but on other site that I maintain such conduct would result in the offending person be removed from the list.
Saying this the post I made regarding the Tire Dump was true and I posted the message for I could see ruts in the grass at the side of the road where people had pulled up. Did someone get that property, it would be interesting to see how they handled it.
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That site was a tire dump as well as a former scrap yard. A search of title revealed an easement in favour of Bell that went back to the turn of the century, as well as leases to oil companies back to the early 1900's and I believe it operated as a gas station for quite some time. It was most recently owned by a reputed mobster is currently incarcarated. It looks like there were lots of finance companies that lost money on it as well.
Also on title was a notice placed there by the MOE. They did the clean-up in terms of getting all of the stuff off the property, but who knows what the sub-soil conditions would be.
A friend of mine decided to bid on it. The assessed value was $100,000 (but MPAC doesn't do a soil condition and use analysis). Zoning was split as half of it was bush (agricultural), and the rest was rural commercial (lots of potential uses, however if you could split it and sell then the buyer would want to see a full environmental done on it - very costly). The block building was in need of much rehab.
My friend went in at $37k and ended up third, I believe it went for nearly $60k. This is a very handicapped site and market values in that area are not all that great so you wouldn't want to bid too high - if you could get it for a decent price then it might have been worth it.
Good luck to whomever won it.