Ontario Tax Sale Property Forum
Tax Sale Forum => Announcements => Topic started by: Dave2 on April 11, 2008, 08:52:48 PM
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According to treasurer these are interim results:
8 bidders total
Top 4 bids:
$12,800
$11,900
$10,900
$10,100
looks like a pro got this one. Frank was it yours who won?
Dave2
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looks like a pro got this one. Frank was it yours who won?
Nope, my face wasn't in the crowd.
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Does anyone have the info for this property that was sold? Was it waterfront? did it have road access or building restrictions?
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Somewhat unusual situation because I am not sure if people realized what they were bidding on unless they checked it out on-site. Looks like only two people did a physical check.
Basic info: Interior lot, with no water access; (by a year round ???) gravel road. Big issue was that there was a deep ravine by roadside so entranceway construction costs would be high. Rear of lot looked buildable but you would need a lot of fill and a culvert to construct entranceway. (Probably at least equivalent to highest bid price.) No chances of subdividing.
Problem was that municipality confused this lot with one next door when I talked to them. Lot next door to this once had a burned out former residence (only foundation was left) but as a result had entranceway and possibly some services already constructed (well and sceptic (useable???). With snow depth impossible to check.
As a result I believe at least part of the bidders believed they were bidding on property next door which was much better value. The property for the tax sale had sold previously for $10,000 in 2002. Some neighbouring properties had sold for $16,000 two years ago.
Certainly not one you could get rich quick on at highest bid price but not a total dog. It will really depend on what ground is like on rear of property. If it is solid granite may make sceptic bed construction and well drilling interesting.
Interesting though municipality has delayed release of the results because they had to turn it over to their lawyer which is the first time I have run into this. Frank or Rob is this common or does it mean there maybe some serious questions related to the correctness of the highest bid(s) on this one.