Ontario Tax Sale Property Forum
Tax Sale Forum => General => Topic started by: Pmc on July 08, 2008, 03:46:23 AM
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hi guys, this is a great site.
I have just one question. I have not bid on a property yet and I'm a little concerned about hidden problems, ie environmental issues, etc.. Now, I know about doing my homework, title search & execution search. Even driving by the property will not hurt, but after reading about HorseCrazy in Need Advice, I kind of got the impression that you should be incorporated before bidding on a property, to protect yourself from any surprises. Do you guys usually bid as yourself or do you bid as an Inc. ?
After all, I'd hate to owe someone a bottle of good scotch.
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Well you certainly are greedy..you should love to buy me a bottle ;D
There is no need to incorporate prior to bidding as the deed can be registered under any name you want after you win. So don't waste your money on the incorporation until you win. At that time its up to you to decide. If you are sure there is no problems, there is no need to incorporate.If you even get the slightest bad feeling..better safe then sorry.
In regards to the horse crazy situation, although they missed the problem initially, ( which can happen as I myself have bid semi blind before and been prepared to lose my deposit ) she did do more research prior to finalizing the deal. No matter how much research you do prior to bidding always triple check afterwards and re-walk the land etc prior to final payment.
You can gain substantially more info after winning the bid as now the city will actually talk to you about zoning amendments etc as you are no longer just a time waster.
What surprises (disappoints ) me is that of the thousands of users of this site, No one posted on here that the land was an ex chemical factory. Obviously several of the people who suck up the free info without posting must have known but couldn't be bothered.
If you are going to make use of the info on this site, you have to contribute too. You don't need to tell us about the gold mine but sure as hell tell us about the chemical factories. Anyone who knew about this and didn't post prior to the bid closure , I hope you get absolutely screwed on a deal in the future and lose your shirt and your house...
It is very important for people to share the "bad news" to prevent any of us getting caught up in a similar situation. Mike A , ( The first bidder) if you are a user here you should have piped up immediately and told her why you walked. !!!!!!
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Thanks Pfm, that WAS worth a bottle of something. Keep this up and you'll have an entire bar. :)
I'm heading up to North Bruce sometime this week to check out the 2 lots. Have not heard much discussed about those properties. Anyone familiar with the area? Possible gold mine? I'll need it to help pay for the gas.
Once again, this is a good site to help all. And a good read.
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Hi, PMC
How was your visit to Northern Bruce?
Larry
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Hi, PMC
How was your visit to Northern Bruce?
Larry
properties of NorBruce are along Maple Drive off of hwy 6 although not sure if they are waterfront - they are close to Miller Lake but don't think they are waterfront - can someone confirm???
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They are not waterfront
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Have been too busy this week, going up this weekend for sure. It will be a long drive from Burlington :-\. Looks like these properties are almost across the street from each other. Unfortunately Pfm is right and they're not on water.
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they are zoned as recreational residential - buildable lots - would think some of the adjoining resorts and B&B's already on Miller Lake would want them, but the land might be a km from the lake - so i guess they are forest land right now.
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The lots are "Inland lakes development" allowing to build. I was curious how they look like.
Larry
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carpool for the 4-5 hour drive from T.O?
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if it's zoned resort recreational or if the land is slated for inland lake development does that mean that the owner then has to build recreational facilities on the land rather than a personal cottage to satisfy the zoning?
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From by-law you can build a cottage dwelling and have to have minimum frontage of 114 feet if there is no municipal water or sewer. If there is water or sewer the frontage can be 98 feet.
Larry
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There are no municipal water and sewer services on Maple Dr. I also read the by-law, properties are zoned R2 and will require 114 feet frontage.
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A little good advice that I got from a municipality where I bid on a property and the sale was subsequently cancelled (the one with the mining rights). When I went to the town to ask about the property, I was told that the township also had lots for sale (surplus land). The tax sale property had a home on it and I was advised that if I was looking for lots, I should also look at the prices of the surplus land that the town is selling, a few of the lots are waterfront. Apparently, it is common for townships to have surplus land in remote communities (you won't see this in the Toronto area, no surplus land). If bidding on a lot in a community away from a large urban centre, check with the township to see prices of surplus land (if any) and decide your bidding on the tax sale property accordingly (don't pay more for a tax sale property than what you could get from township). As for crown land, until a few years ago the MNR advertised crown land for sale, many waterfront, they have stopped and now lease the land to persons. Their accountants realized that there is much more money to be made leasing the land out rather than selling it at bargain basement prices. Now the MNR advertises revenues received from leased land on their website. A few of the townships will tell you if the property is waterfront, others will tell you to figure it out yourself and will just give the parcel, lot info.
Anyone mind telling how to use 'google earth' or other website to figure out if property is waterfront and other info?
Sasha
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Thanks for the advise. Just this week I noticed the town of Ingersoll was going to sell a lot that was surplus. It's on the towns website. Doubt it's on water.
If you know the property address, why not try google maps. Just type in the address and it will take you there, usually. I'm not sure about google earth.
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There are no municipal water and sewer services on Maple Dr. I also read the by-law, properties are zoned R2 and will require 114 feet frontage.
Have you seen the property then?- Is it forest tract land or has there been some development it? why would the current owner give up on it and not pay the taxes
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Hey, went up to the two lots on Friday. (North Bruce)
The larger lot has a realtors sign on it. I couldn't find it on MLS, however, if I tried harder I'm sure I could find out how much it is/was going for. That lot has a mix of trees and open areas. It does not have a driveway into the property. There is also a dirt lane beside it (west side) and a trailer park behind it. This lot is close to HWY #6.
The smaller lot was harder to find/define because of the density of trees and no distinct fences or property boundaries. I think the lot has a small open area surrounded by trees. The lot appears to be a bit below street level and it also does not have a driveway into it. This lot would be a little farther from HWY #6.
I did not walk any of the properties, so this is what I saw from the road. It appears that none of the 2 lots have ever had a structure on them. About a mile east is Miller Lake, there are some nice cottages there and a couple of camping/cottage resorts.
Hope that helps all who are interested.
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That was great. Thank you.
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Hey, went up to the two lots on Friday. (North Bruce)
The larger lot has a realtors sign on it. I couldn't find it on MLS, however, if I tried harder I'm sure I could find out how much it is/was going for. That lot has a mix of trees and open areas. It does not have a driveway into the property. There is also a dirt lane beside it (west side) and a trailer park behind it. This lot is close to HWY #6.
The smaller lot was harder to find/define because of the density of trees and no distinct fences or property boundaries. I think the lot has a small open area surrounded by trees. The lot appears to be a bit below street level and it also does not have a driveway into it. This lot would be a little farther from HWY #6.
I did not walk any of the properties, so this is what I saw from the road. It appears that none of the 2 lots have ever had a structure on them. About a mile east is Miller Lake, there are some nice cottages there and a couple of camping/cottage resorts.
Hope that helps all who are interested.
Good info - thanks - worth a blind bid on this??? i doubt the land is contaminated or anything like that, maybe the last owner wanted to get rid of the land because he didn't have funds to build on it, or maybe he doesn't have access to the lake, dunno - Timbr mart nearby - great info though - thanks
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Hi all, For anyone interested in properties in Bruce County, the county website maintains a pretty good GIS map. It's worth a look and gives fairly detailed description of the ground cover etc. You can zoom in on these two properties by search the tax roll numbers or Maple Drive.
http://brucecounty.on.ca:615/website/start.asp
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Hi all, For anyone interested in properties in Bruce County, the county website maintains a pretty good GIS map. It's worth a look and gives fairly detailed description of the ground cover etc. You can zoom in on these two properties by search the tax roll numbers or Maple Drive.
http://brucecounty.on.ca:615/website/start.asp
what do you think these lots will go for?
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I can't say with any certainty; however, the two properties were assessed at 12,000 and 9,400 respectively for taxes. That info is available from the county website.
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I know the area and unless you are close to Miller Lake (walking distance) they won't fetch much. Plus too close to HWY #6. Lots in this area take years to sell. As someone stated there are many more interesting lots on MLS for reasonable prices. I love the area but I don't see much value here even at assessment price.
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I know the area and unless you are close to Miller Lake (walking distance) they won't fetch much. Plus too close to HWY #6. Lots in this area take years to sell. As someone stated there are many more interesting lots on MLS for reasonable prices. I love the area but I don't see much value here even at assessment price.
From the Bruce county website map that Ian provided and from PMC's description it loses it's appeal. Like you said it is close to Hwy 6 for the larger lot (and not waterfront) but from that map there's a campground behind it (or trailer park like PMC said) so might not be that private. As for the smaller lot, it seems the county website map says the frontage is 100 ft, so it looks like it doesn't have the necessary frontage to get sewer/hydro services; that is unless the municpality brings it to Maple Drive in the future.
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As for the smaller lot, it seems the county website map says the frontage is 100 ft, so it looks like it doesn't have the necessary frontage to get sewer/hydro services; that is unless the municpality brings it to Maple Drive in the future.
If you notice 9 Maple Dr., the 2nd lot to the west, with the same lot size, has a single family dwelling on it, you know you should be able to get same services for this lot.
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Here's some more info for all interested in the Maple Dr. properties. I have heard that the 114' road frontage needed for a septic and building permit only pertains to new building lots and lots being severed. Not lots that are already severed/established. These lots have been around for quite a few years. Apparently the 2 lots should have no problem getting permits. There are currently 3 lots on that street that have buildings under construction.
Remember: do your homework, do appropriate searches and ask questions. A great place for info is ontariotaxsales.ca
Also, this site is great for information, but we could all be bidding on the same properties. We are competing against each other. I will not be bidding on those 2 lots, otherwise I probably would not have given this much info. Good luck to all that do bid.
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Lucky, half the homework has been done: one lot close to highway, behind it there is a trailer park (by the way, how far behind?), the other lot is small; lots are not waterfront, so on, so forth. There is a lot for sale right on Maple Dr. on MLS. I think it is $14,000.
We shall see. There is the other half of the homework to be done, though.
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That's what's so interesting about this site. It helps with our investigating, or at least sometimes points out potential problems. $14,000.00 eh? It is a nice part of the province, with less the traffic than the Muskoka bound cottagers.
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Well, how did it go? Anyone here bid on the North Bruce properties? I haven't heard the results yet, any info?
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Lost this one. The bigger lot was really nice, I did not understand the "For sale'' sign on it. The campground was not quite at the back of the lot. Before that was another parcel and a dirt road. I called the real estate and they said the lot was for sale for $24,000. I did not ask any other questions, but it is questionable. I should have told the treasurer about this issue, as I put in my tender in person. The first bid was for mid 13,000 if I remember correctly, and the second around 11,000.
The smaller lot sold for around mid 8,000. Cannot remember the exact figures.
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Thanks Larry.