Ontario Tax Sale Property Forum
Tax Sale Forum => General => Topic started by: lonewolfsek on February 18, 2011, 06:38:20 PM
-
OK guys, I am new to this. I would really like to obtain one of the clarington properties, so I would appreciate if you could all avoid bidding on these properties. Thank you ahead of time for your professionalism. ;)
Anybody want to share???
-
OK guys, I am new to this. I would really like to obtain one of the clarington properties, so I would appreciate if you could all avoid bidding on these properties. Thank you ahead of time for your professionalism. ;)
Anybody want to share???
8)Saw some of the properties today some look good but it is to early in the game to get excited about. Unfortunately for all of us most will get redeemed.
-
Lonewolf:
Some observations; Like your (shortened) avatar name this board functions like a wolf pack which is very hungry. Because of their hunger I will very rarely advise people of a possible attractive property in public unless I have no interest in it.
I have tried and failed to get collective co-operation. Like approaching the owner I would recommend don't do it.
At the risk of getting beaten up by Les; I keep saying the times they are a changing with OTS in the game. One of the things (some might call it a benefit) they are doing is advising people earlier then we are used to. This has two effects.
a) more people get informed and possibly bid for something especially if it is attractive.
b) The chances are increased it will get redeemed especially as people scope it out.
What is done is done and I cann't change it. This tax sale is over a month away. I am going to wait and then make a decision. I am in no rush.
Like in the wild with a big kill. If it is a dog (ie of no value) we all appreciate it if we hear about it. IF if is attractive we do not expect you to tell us. Its our job to find out ourselves unless for whatever reasons you are not personally interested in it.
-
I was just trying to bring some humor to the board. I am interested, however I have been reading this board for a couple of years and I have heard how talking to the tenants stirs up a lot of bull, so not to worry I won't be doing that. But on a lighter note, I am a tax sale virgin, and this girl does look like the one to pop my cherry. LOL.
-
I was just trying to bring some humor to the board. I am interested, however I have been reading this board for a couple of years and I have heard how talking to the tenants stirs up a lot of bull, so not to worry I won't be doing that. But on a lighter note, I am a tax sale virgin, and this girl does look like the one to pop my cherry. LOL.
Well I hope that she's a pretty one.
You should realize, that beauty is in the eye of the beholder and that there is a match under the right circumstances for even the ugly. Don't be too shy.
-
>:( About a week ago, 98 Matchedash St S Orillia was with drawn--But why? After spending some hard cash at the Registry--there was no City orders for non-payment of taxes and tax arrear sale--nothing except a mortgage 2004. City Clerk's office--no comment, why it was withdrawn. All other lands listed were dogs. Like as, House at 223 Matchedash St was a run down unsafe shack--went for $40K and 38Ft frontage and rear industrial mess.
98 Matchedash St ,was a False leader to suck you in.
Does anyone know about the recent law suit ( Perth tax sale) that allowed townships to add thousands of dollars to the tax arrears oweing ( legal fees, staff fees, Clean up fees, Brothel fees :-* ). Like in Brock, a worthless land,assessed at under $700, how could the tax arrears amount to $18K after 3 years of non payment. Here is the sad part. Assume a property Tax arrears $!2,078 plus added fees of $50,000 = 62,078, upon sale goes for $122,078.01. What happens to $60k? Prior to the city taking action, it informs all the lien owners on title and owners. If they do not respond in 3 months--city keeps the loot. A sad case in Clearwater, husband dies helping his brother fix a retaining wall-fals and kills him. Wife and two children--no money to hire a lawyer or heat the house-moves out and lives with parents. Not registered on title--Township never informed her and the city kept the cash Tax arrears $27k went for $102k.
No laughing matter :'(
-
Today's posting of one Example:
The Corporation of the Municipality of Charlton and Dack
Zoned: R1, General Residential
Size: .21AC, 66.66FR, 140D
Municipal Services: none
Present Use: Vacant Land
Access: Lakeshore Avenue
Assessment (2009): $4200
Minimum Tender Amount: $ 4,047.11 :'(
Got the Picture?
Assume a rate 3% yearly charge on a vacant lot X $4200 =$160/year X 3 years= $480.00
Can someone PLEASE explain how the city has the nerve to add on $3569.18
-
Les:
I haven't done any checking in this specific case but don't assume every rural municipality has efficient tax collection and taking things to tax sale right after 3 years of non payment has been reached.
In at least one case where I purchased property taxes had not been paid in 40 years so that might explain it. We may have a new treasurer in town who finally decided to clean up the books.
I just hope you keep complaining about all the bad ones especially if there has been no tax sales for a long time. Do it louder please so everyone is discouraged and I will face no competition for that good quality one that is hidden among all of the dogs. ;)
-
the rate includes all costs of enforcement, collection and sale. So everytime they send a letter its at 100 per hour ( realistic cost for government employee) there is legal advice, title searches, notifications and then advertising and carrying out the sale and subsequent transfer of property. I can easily see 30 to 40 manhours and dispersemen ts exceeding 3 or 4 k cost.
Now if the property is abandoned and they have to bulldoze unsafe buildings or clean up old cars etc ,then the cost can go up substantially.
That said...kingston a few months ago looked more like fair market value then minimum..I had no interest in any pieces so I didn't bother inquiring
-
Anyone want to share their findings? I have some done some basic grunt work.
-
Anyone want to share their findings? I have some done some basic grunt work.
Still a little early as I would expect some if not all to redeem in normal circumstances but unless you are a farmer according to Les this is one you may want to avoid.
How about try this recent worthless advertised at OTS
25ft x 99 ft Parcel--photo shows middle of a large farmers field plowed. Assume that yearly taxes are $50/year the most,how could the taxes owing become $16,183.23. I'd love to hear your expertise on this one.
Minimum Tender Amount: $16,183.23
"Not Assigned Municipal Address:
Lot 10 Plan 97 Darlington; Clarington. PIN 26606-0048(LT) Legal Description:
18 17 010 020 11716 0000 Roll Number:
Annual Taxes:
Assessed Value:
Map:
25 ft frontage 99 ft deep Property Size (Approximately):
no Is the property on a lake or a bay or a river?
no Is this property accessible by a public or private road?
no Is there a house or cottage on the property?
no Is there some other structure on the property?
Agricultural (A) Zoning
Unknown With the existing zoning, is it possible to obtain a building permit?
Unknown Is it possible to have the property re-zoned?
no Waterfront
Appears to be landlocked Appears?--you got to be kidding!
-
Anyone want to share their findings? I have some done some basic grunt work.
I don't know how OTS Jeff does it to prevent redemptions until we all spend our hard earned money on information packages, but as two weeks have passed I guess we had better start to think about doing some homework.
As requested earlier anyone found anything legally that would suggest we not make Jeff
too rich on any of the remaining properties. I mean if I continue to get slaughtered in my less then brilliant uranium stocks investment diversification like the last couple of days,
my significant other may get out her carving knife.
On the properties remaining at least a couple are occupied. Given the rules in Ontario if you are lucky I would recommend you bring in professional help. I have some contacts you may need if you are successful. Note I would strongly recommend you budget $2,000 plus for this help. You will need it. That will be my contribution to this one. You can PM me for details if you win.
If one is clean maybe Rob should run a contest to guess the number of bidders. Probably in the six figure range and who knows what prices given Essex.
-
141 Baldwin St. is postponed. It had Government Executions registered too. Why would it be postponed ?
-
See the actual picture of Concession Rd. 7 S/S, Bowmanville, Ontario. Looks like its been encroached be the neighbours.
-
141 Baldwin St. is postponed. It had Government Executions registered too. Why would it be postponed ?
I have seen this happen once before but it is obviously a very rare event. In addition to Government executions there is a large mortgage by a major Canadian bank who almost never let a reasonable property go to tax sale.
I still don't understand why it was up for tax sale in the first place because the property is being maintained which normally means there is still an economic interest in it. In the only other case I am aware of the property was actually controlled by the Public Trustee of Ontario who promised the municipality their pound of flesh if they would allow the Trustee to have it marketed on behalf of their client. Sometimes the left and right hand of government do not work together and these things happen.
I would hope that no one tipped off the government about this one, as it probably cost OTS Jeff at least 50 to 100 package sales plus title searches because only at the last
minute do the pro's like this guy 8) get active. >:(
Suggest we just keep quiet and see what happens. you never know if there will be a round 2 ;)
-
Results?
I could not make it.
-
Results? I could not make it.
Sorry Lonewolf can't help you; When Muncipalities postpone taxsales interest drops and it costs them a lot of money in the end.
I like some others I know decided when they pulled out the interesting ones; not to attend. One postponement I can understand but not two. When they play games it only hurts them in the end.
-
I completely agree with you Dave.