Ontario Tax Sale Property Forum
Sheriff Sales / Foreclosures => General Discussion => Topic started by: dogmacanada on August 28, 2015, 01:02:34 AM
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Anyone going to opening tomorrow? I put a bid on Bobcaygeon Road in Minden property... Still haven't hit one!
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Anyone going to opening tomorrow? I put a bid on Bobcaygeon Road in Minden property... Still haven't hit one!
After I heard the bids in Minden Hills I figure Rob must be recruiting some unusual new members for the board. (see Photos)
a) Mr. Mountain Goat. (for Number 5) (Maybe with the downturn in the oil industry some Alberta members decided to come east.) It is waterfront but has a 50 foot cliff on the water and 35 foot cliff in back to reach the road. (sorry I meant to say the track)
I didn't realize that many people could afford a helicopter.
b) Mr. Muskrat (for number 9) Lets just say part of it is rather wet.
Can't believe the bid prices. Must be a new strategy I have not heard of for tax sale properties called averaging elevations. Combine a cliff and a wetland and you get a reasonable average property elevation. ???
Boss told me when we looked at them that she did not want to have to handle them as part of my estate after she finished with me if I dared bid on them.
Bid details to come.
One of those cases where the stock market strategy applies," Sell in May and go away"
If people are bidding this aggressively for this type of property I shudder to think what a halfway decent one comes to market like Brock last week on Lake Simcoe (it redeemed) would go for.
To add further insult my car mechanic warned me I will have to replace some of my rear suspension on my car if I keep travelling the high class access roads to these propeties. LOL
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hahaha you can always count on dave for a good laugh. that mountain goat is what it feels like in this game sometimes. but did you actually hear what the results were? I put in 3 bids but hate having to wait till monday to find out how I should feel? did anybody go?
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hahaha you can always count on dave for a good laugh. that mountain goat is what it feels like in this game sometimes. but did you actually hear what the results were? I put in 3 bids but hate having to wait till monday to find out how I should feel? did anybody go?
Bids took for ever to process. Still going on at 5:30 pm but did not stay for number 10. 60 people in attendance.
1. First - 14,356
Second - 12,400
2. First - 13,333
Second -7,250
3. First -12,000
Second -8,600
5 19 bids First - 92,000 Second -85,450 next couple in the 70,000's
6. First - 18,295 Second - 18,126
9. 23 bids First - 81,000 Second - 45,233 Third - low $40,000
10. did not stay for that one.
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I am Mountainman.
Johnathon of the orb,
Thou shall have no reward,
Thou did not win,
Again, you lost to my kin,
To Dave the knave,
The winner was quite brave,
The figure ninety-two,
May have filled your pants with poo,
But one thing I shall must say,
A day will come with much pay,
The land may reach to heaven,
But the abode shall fetch digits seven,
So if you think I am the fool,
A wager of your lager to fill my pool,
If I win it shall be twice,
And my day it will be nice,
Now I go and my time is up,
Or else my spouse shall kick my butt.
For I am Mountainman.
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Thou shall have no reward,
Thou did not win,
Just a friendly reminder that even with the winning bid you do not own the property UNTIL THE DEED IS REGISTERED. There is a real risk in this business of post deed redemption although in this case I wonder if the owner found a great way to sell a tough piece of property to sell for a tremendous price. ;)
Me I don't have to worry. My latest tax sale deed came in the day
of the Minden sale. (I knew it was registered before the paperwork arrived.)
In this business you have to know when to hold them and when to fold them. That is why I bring the boss along. The only problem sometimes is that property owners who don't pay property taxes also don't pay the types of taxes that Revenue Canada requires. Unfortunately that was the case for what I thought was the better waterfront property last week up by Kaladar. :'(
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Dave2's summary is accurate at the time of his departure.
I have the following updates to add:
There were 3 bids on property #10 $30,000.00, $30,100.00, and $30,560.00.
There were 4 courier envelopes that were opened at the end which they weren't sure which property they were for until opened.
These courier envelopes may or may not have contained a properly identified envelope. I wasn't sitting close enough to hear the discussion about the contents, only which properties and the bids were announced. None of these bids were high enough to be in the top two bids. 2 for property 5 for a total 21 bids, 1 for property 6 for a total of 15 bids, and 1 for property 9 for a total of 24 bids.
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Looks like property #9 was redeemed after the tax sale.
There were also some bids in the top 2 that were rejected.
#2 only 1 accepted bid at $13,333.00
#3 rejected bid of $12,000.00 1st is $8,600.00 2nd is $6,025.00
#6 rejected bid of $18,126.00 1st is $18,295.00 2nd is $15,888.88
Minden Hills finally posted the results on their web site
http://mindenhills.ca/tenders/