Ontario Tax Sale Property Forum
Tax Sale Forum => General => Topic started by: uloo on November 23, 2007, 02:03:07 AM
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Did anybody see the Hamilton tax sale properties?
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Did Some
Forget barton st, both rotted out knock downs which will cost twice what they can sell for when you replace them.. not worth $1 let alone min , has that flint michigan, mixed with love canal feeling in that part of the city
Rays st...forget that, reno that went south a few years ago, really only good to the attached semi to use as a living room or bulldoze and use for sidelot , house is maybe 400 SQ ft. Not worth min , except to attached neighbour maybe
Wellington..absolutely stunning ..but redeemed DAMN ...
townhouse in stoney creek , not too bad..redeemmed
Simcoe st, North of barton, block from the prison , no parking front or back, spot out front is actually neighbours, house is tiny but doesnt look too bad, didnt look inside , ..but that part of city is nasty ( as is most of Hamilton) Taxes are nasty there too.. Check tax and you will find it will take almost third of your rent on that one
Windemere// on beach strip . 2 doors from qew.. downwind from stelco. didnt get good look , beach strip is a sh*t hole area, good if you dont mind dying from cancer from Stelco smoke. or the high tension lines
As you can tell Im not a fan of Hamilton..half of city needs to be nuked and the other half bulldozed into the resulting bonfire
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As you can tell Im not a fan of Hamilton..half of city needs to be nuked and the other half bulldozed into the resulting bonfire
I can see from your comments that you not a fan of the Hammer. To be fair, there are many very nice areas in Hamilton, and the City has a lot going for it, taxes are not one of them. Unfortunately, as in most cases, tax sale properties are rarely cream of the crop - that is generally why they are up for sale.
By the way, the one on the beach strip is actually three doors from the qew. Apparently this is a tenant situation as well, so that may add some difficulty into the mix for whomever gets it. I suspect it will be redeemed at the last minute anyways. 8)
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Actually I lived at Aberdeen and Locke for awhile 20 years ago , very very nice area , great houses walk to hess etc, Then lived for a few years in Ancaster in the village , which was great, well till Hamilton took it over.
But most of the city is damn nasty...And I have been hearing for 30 years how its going to get better..It doesn't and probably never will with the amount of corruption in city hall.. What was the latest scam? ..the lister building lease... The one thing that is consistant with Hamilton, No developer from Toronto will ever get an approval for anything.. Only the local clan with the standard kick back..oh excuse me "consultant fee" or board position
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Actually I lived at Aberdeen and Locke for awhile 20 years ago , very very nice area , great houses walk to hess etc, Then lived for a few years in Ancaster in the village , which was great, well till Hamilton took it over.
But most of the city is damn nasty...And I have been hearing for 30 years how its going to get better..It doesn't and probably never will with the amount of corruption in city hall.. What was the latest scam? ..the lister building lease... The one thing that is consistant with Hamilton, No developer from Toronto will ever get an approval for anything.. Only the local clan with the standard kick back..oh excuse me "consultant fee" or board position
You lived in a couple of the nicer areas which I alluded to. Being an older industrial City, Hamilton has it's less desirable areas. but to just say nuke the whole thing is unwarranted. As for the corruption you mentioned at City Hall, I can only surmise that you have been reading the Hamilton Spectator far too much and you believe every word that is printed. I have spent a good deal of my life there and quite frankly didn't see it - and no, I'm not blind. Hamilton needs the Lister block restored, and has tried to make that happen.
Quite a number of developers from across the province have been successful in Hamilton, and, as an example, Mattamy homes has purchased a large tract of land and getting set to develop it shortly - there is no exclusive club as you indicate nor any kick back mechanism in place (and I am in the development industry in Hamilton).
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Actually I lived at Aberdeen and Locke for awhile 20 years ago , very very nice area , great houses walk to hess etc, Then lived for a few years in Ancaster in the village , which was great, well till Hamilton took it over.
p.s. spoken like a true de-amalgamationist. None of us wanted it, but it has happened, and it would now be impossible to undo. Now is the time to get on with it, and make it work for the whole of Hamilton. I'm sure that the Hamilton Tourism people would love to talk to you, and buy you a ticket out of town. ;D
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By the way, the one on the beach strip is actually three doors from the qew. Apparently this is a tenant situation as well, so that may add some difficulty into the mix for whomever gets it. I suspect it will be redeemed at the last minute anyways.
Frank, How do you find out if it is a tenant situation? Looks like the house is asking major work. Wonder if the tenant is not leaving ???
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Frank, How do you find out if it is a tenant situation? Looks like the house is asking major work. Wonder if the tenant is not leaving ???
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I have my ways.
Looks like this one and one of the ones on Barton will be redeemed before the sale on Friday. stay tuned. 8)
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So far the ones that will be on the friday sale are #1-68 Ray, #6- 5 Windermere, #9- 774 Barton and #12 721 1/2 Barton. All others have been redeemed. Talking with K. Beattie he has recieved calls from 5 Windwermere and 774 Barton to settle up before Nov. 30.
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As was expected, all properties except 68 Ray and 721 1/2 Barton st. have been redeemed. As per updated info on Hamiltons web site.
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Thanks for sharing the info on the Hamilton tax sale situation everyone. Being new at this I find going back over some of your conversations very informative...but still trying to get the hang of posting messages etc..
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Another sale completed, and aother sale experienced. For those who didn't attend, these are the results of Fridays Hamilton tender opening.There were only two properties that were not redeemed, 68 Ray st. and 721 1/2 Barton st.. There had to of been approximently 30 people in attendance, some had not checked the Hamilton site and were a little disappointed that the properties they had come for had been redeemed. The first property sold was 721 1/2 Barton, there were 4 bids submitted; $30,000, $25,610, $20,500 and $19,000. There were 10 bids submitted for 68 Ray st; $76,000, $71,000, $67,001, $61,107.03, $54,500, $50,005, $50,000, $49,000, $48,500 and $47,901. Although I was not among the winning bids, without submitting a tender I would have no chance of winning.
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anybody see the Hamilton Spectator today??? i think it was front page .....pictures of one of the properties that was just bid on.....the place looks stripped down to the walls ...at least the winner doesnt have to worry about demolition....its already done
cheers
steve
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Hi all, I`m new to this and looking a buying a cheap fixerupper home or business in Hamilton. Ive seen a couple of real run down and fire damaged properties in the city`s east end and I`m concerned that if i were to buy one, the city would force me the new owner to either bring the building up to code or have it immediately demolished for public safety . Does the city provide knowledge of structural soundness or list if a building has been condemned?
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Caveat emptor.....Buyer beware.. The city tells you nothing.. If there is a toxic waste problem you could fight them as the have a duty to disclose such nasty stuff, but thats about it. ( if you can prove they knew) Always best to incorporate if you win a bid just in case there is barrel of toxic waste in the basement. At least if you use a corp you can fold it without losing anything but your investment. Less then a thousand to incorporate is the best insurance you can buy. If the house is vacant, you cant buy insurance and if anyone gets hurt...you are personally liable , and therefore bankrupt , unless you used a corporation to make the buy.
In regards to vacant or damaged, The minute you take over, they may hit you with a property standards order if the site is not safe. So unless you can immediately fix the fire damage...There is a bulldozer in your future...At least if you bulldoze, your tax will go down. If its just burned out..They will hit you with full property tax. Market value assessment isnt affected by the tax sale price as it isnt considered a market value sale.
Always presume the house is a gut job when you bid, These are tax sales and the owner has decided it isn't worth the taxes ..he has been inside.
The problem with east end is that there is a very good chance repair /replacement costs will exceed value it can sell for when its done. And East hamilton isnt exactly having a boom in real estate value...
In regards to commercial buildings, Watch the property tax in Hamilton as the tax rate in hamilton is very very high, and commercial rents are dirt cheap, doesnt leave alot, if any, profit for the landllord.
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Just wanted to add something about incorporating.
Although corporation may provide certain protection, in the case of environmental pollution, directors may be held liable. The corporate veil could be removed and there would be no protection.
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Very true if you are the corp that did the polluting ... However that would only apply if you were the polluting party and they can prove the director had , or should have had, knowledge . If you purchased the land and it was already dirty, They cant hold the director responsible as you had no part in creating the problem.
Im not saying , create a corp..then bury barrels of PCB's .. Just saying its damn good insurance.
In addition if you plan on playing this game, There is huge tax incentives in incorporating as you can right off actual expenses and losses on certain properties against profits on others. Means nothing if you plan on just buying one piece, but buy a few over the years and there is a serious tax incentive to incorp.