Ontario Tax Sale Property Forum
Sheriff Sales / Foreclosures => General Discussion => Topic started by: ChrisCentral on November 01, 2012, 09:40:11 PM
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From today's (Nov.1.12) tax sale this was the first tender package we submitted...
Tax Sale 1:
1 - $8,200 (only Tender)
Tax Sale 2:
1 - $43,300
2 - $151,111.11
3 - $43,000
4 - $22,602
5 - $51,515.15
6 - $121,121.12
7 - $41,003.00
8 - $87,503.00
Tax Sale 3 - Redeemed day before sale - Oct 31
Tax Sale 4 - Redeemed day before sale - Oct 31
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Sadly, we didn't win...
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I'm what is referred to as an end user on these forums, and new as well, so my perspective is a little different.
I entertained the idea of #1 (Skerryvore), but it was a fair distance from GBay to enjoy the water front easily, the property fronted on to the primary road for the community, and the is a road fee. There are easily 20 other vacant parcels of land of the same nature or quality in that community, possibly with better features. Over the past 8 months or so maybe a half dozen vacant parcels have listed and to my knowledge not sold. The typical listing price is 35k-45K, that I've seen. I don't know anything about flipping properties, but I had a hard time in visioning a low enough price to move it and cover what cost I could imagine.
Property #2, Francis Island, isn't what I was looking for either. Did 40+ years of water access not real keen on more. The thing about this property for me anyway was zoning. If you have lots of money to develop the property (500K+) the township is willing to bend your way on rezoning. My experience with them, however, is that Natural State is about the same as Environmental Sensitive or Environmentally Protected. You could easily have bought a property and not have been able to do anything with it.
Dealing with the Archipelago has not been a rewarding or enjoyable experience.
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Another thing about #2 is that all the boat traffic for that area has to go past your shoreline. If you're not into boat watching, might not have been a good property to own.
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Welcome to the forum! I for one appreciate comments from the silent majority. Let me be the first to applaud your contribution.
Most of us here are end users or hobbiests. There are only a couple of members making regular money doing this and unfortunately I am not one of them.
I think that the simple truth is that the vast majority of us are looking for that perfect waterfront cottage property. If we happen to stumble onto something decent while looking for our holy grail, well so be it.
Good luck on your search and let us know how it goes.
btw, any relation to the other Dave here? If so, care to place a wager for a beer or 24? ;D
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There are buyers for everything ...for the right price..:)
Luckly i already have a waterfront cottage..but why not have 2 :P
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Baller makes a good point. I already have one wife, why not ..... never mind.
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Welcome to the forum! I for one appreciate comments from the silent majority. Let me be the first to applaud your contribution.
Most of us here are end users or hobbiests. There are only a couple of members making regular money doing this and unfortunately I am not one of them.
btw, any relation to the other Dave here? If so, care to place a wager for a beer or 24? ;D
Netpred:
I always thought that money was a secondary objective in your case ; and that your primary motivation was beer especially when someone else pays for it as evidenced by your last sentence. ;D
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Dave:
There are very few certainties in life. Also, I am thirsty. Why don't we place a bet? You name the bet and your terms. The only condition that I will insist on is that the bet must come due before next Wednesday so that I can drop by to collect when I am passing through Cobourg. ;D
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According the Archipelago By-law un-zoned land defaults to NS - Natural State... anything without a building (or with a building in some cases) ends up in this category. I have a friend who purchased a cottage from a German national that is on Channel Island - the township had no records of the cottage, septic system or of any building permits... it was zoned NS and I'm not sure how he got around it but he is still enjoying it. He also sold an adjacent empty lot to sister who was able to build without much hoop jumping due to the NS zoning - only caviate was no allowance of a septic due to size of land (composting toilet).
Any other insights on rezoning procedures and costs??? There is a large lot near our current home listed as EP but there has been a sign posted recently of an intended re-zoning... is it possible?? I looks like this developer has really deep pockets as a subdivision with 75 single family homes is planned... definitely deeper pockets then the average Tax Sale junkie... afterall the $500K spread over 75 homes really isn't much at the end of the day.
Looking forward to thoughts on this side topic...
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Interesting what you've found regarding NS in the Archipelago. My discussion with someone from the township left me with a much different impression.
A lot of things were done in that area without the townships knowledge, eventually things catchup. Probably true for most townships 50 or 60 years ago. For years we had a cabin, then one day someone from the township showed up, building was ok, with septic, so they just had our description updated.
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Dave1010/Chris:
What is you opinion of the winning bid on tax sale item number 2? Did the winner get a good deal or overpay.
On rezoning it is both site and municipality specific and the province is also dictating a lot these days (i.e. making it more restrictive). Some general rules but it is important to know the specifics of each site and the local situation.
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I'd say the winning bidder did very well, not stellar, but below market asking prices for the area.
The bid was below the lowest MPAC assessment for any of the other vacant parcels on Francis Island. Definitely below the assessment for the parcel itself. Myself I've always been mystified by how they arrive at their numbers.
Not what I'm looking for, but many people would be very happy with the parcel. Southern exposure, long stretch of deep water shoreline, possible wetland or reedy beach in another location (EP), contour lines suggest suitable for building, nearest neighbour would be a reasonable distance away, opposite shoreline is Massasauga Park - no development.
Only down side I see for the property, would be boat traffic and according to Google Maps a Waterdome on the other side of the island (landing and take-off area for float planes).
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Thought I'd revive this thread.
From Realtor.ca
Listing ID: 201436006
LOT 23 FRANCIS ISLAND, GEORGIAN BAY
BRAND NEW TO BE BUILT OPEN CONCEPT 3 BDRM COTTAGE. LARGE GREAT RM W/FP & ADJOINING COUNTRY KITCHEN, MBDRM W/ENSUITE, MAIN FLOOR LAUNDRY, SPACIOUS SCREEN PORCH. 2.8 ACRES TREED LOT W/VIEWS 180 DEGREES
$680,000
I don't usually go up where the air is that thin in my searches. Yes its the same parcel. Key phrase here is "to be built". Oh, and just in time for the Cottage Life Show. I'm always suspicious when an in-house listing number is used.